Plaza-i Account Payable

Real-Time Vendor Summary

When you approve a payable entry voucher, or direct payment voucher, Plaza-i will automatically sum up amounts by payee and by due date （real-time vendor summary）

Furthermore, according to the settings in Bank Charge Master registered per bank, bank charges will be automatically calculated, and also based on the settings of the “bank charges paid by us” status in Payee Master, payment amounts will be calculated.

Automatic division of payments is available for transactions such as “half cash half notes” based on amounts after vendor summary, and due date will be automatically determined according to “cash payment on due date condition” (detail information mentioned later).

Payment Method Change/Due Date Change (Offset is supported)

Once a payable entry is approved, the data such as amount and account code cannot be changed as in the same case with journal approval (securing of internal controls).
You can, however, change the payment method and due date until payment approval is completed.
On the payment method change screen, you can execute:

1) confirmation of entry details corresponding to payment schedule,
2) offset process of amount after vendor summary with account receivable,
3) payment method change including change of “transfer from bank”, or change of proportion for half cash half notes,
4) due date change,
and 5) payment suspension process.

Working with Bank’s FB System

When using request form for bank transfer, you can submit the request form output from Plaza-i to your bank as is.
When using firm banking (FB) through the Internet or telephone line such as Web-Banking, the bank’s system has a menu where external file can be uploaded.
Please load the FB data with “Zenginkyo (Japan Banker’s Association) format” created by Plaza-i Payable.
By doing this, you can omit the process of making entries such as payee, transfer-to, and payment amount in the FB system.

Due Date Payment/Notes Payment

For instance, you can set up payment terms as follows: When the amount to be paid exceeds a certain amount after vendor summary, due date becomes by the end of three months after the billing instead of by the end of the following month of billing.
In case of partial note payment, for instance, you can cut off amount less than 1000 yen.
“That is, payment schedule data will be automatically created based on master settings. For example, under the condition of “bank transfer at the end of the following month when less than 1 million yen. At the end of two months after the billing when more than 1 million yen, 30% note payment, cutoff less than 10,000 yen, and remaining amount bank transfer”, if the summarized amount of several payable entry vouchers for Company A becomes 1,035,000 yen, since the amount is more than 1 million yen, 30 % of the total amount (310,000 yen after the cutoff of the amount less than 10,000 yen) will be paid by note, and the remaining 725,000 yen will be paid by the end of two months after the billing instead of the normal due date (by the end of the following month of billing).
”
You do not have to click any button after vendor summary or divide the payment manually in order to create such payment schedules.

Advanced Payment

Advanced payment process is available. Payment can be processed in advance and then the payment amount will be offset with payable amount recorded later.
Advanced payment amount will be recorded when payment confirmation is executed for the advanced payment voucher. And then when the payment confirmation is executed for the payable voucher of the same payee later, the advanced payment amount will be offset with it.

Foreign Currency

Payable entry and payment can be made in any currencies.
When using Plaza-i Forward Exchange Contract (FEC), you can create direct payment data based on several forward exchange contract transactions that have been allocated.
For the unallocated portion, payment process can be executed by specifying a payment bank account in the payment method change screen.
Foreign currency denominated payable balance will be converted at the end of each month, and a journal will be automatically created to record the difference.