![]() Once happy, hit Add transaction and this stick it in the books and covers the two manual steps noted above, ie both making the book entries and ticking off the entries in the bank record. Upload bank statement (This just gives you pages of bank statement entries so, at that stage nothing has been entered in the books).Ĭlick on each line and tell "EXPLAIN" to CBs what it is, which, in your example, is allocating the amount against the one (or many) unpaid sales invoices. In CBs, and other systems which allow the import of bank statement lines every day if you want, the above two processes can take place in one go but in reverse order, ie you are lead from the bank statement. Then, as a second stage, when the bank statement arrived at the end of the month, you would run down it and tick off all the entries on the statement with the entries in your cash book and this process was part of the "Bank Reconciliation". In traditional bookkeeping when a customer paid you, you would make a double entry in your books to add the money in to your cash book (ie your internal bank record) and then to pay off the unpaid invoice in your Sales Ledger (ie the book recording invoices sent out and money to pay them off). ![]() ![]() I would recommend Cred-it for any business, small or large and in any country who wants to increase storage space, save money in lost production, be able to reproduce copies of invoices for the accountant in 10 seconds and have the bosses be able to access the same current and up to date data from anywhere without the need for software.If I set out where these terms originated, I think it will give you a better insight into why CBs does what it does and why there are two procedures open to you depending on how you want to run your books, ie there is no "correct" procedure. ![]() I am in Alexandra, NZ doing all this quickly, efficiently and timely. The biggest bonus is no paper invoices having to be filed and when the accountant rings and requests a copy of an asset, I can get it within 10 seconds.Suppliers are paid on time, no overdue accounts or credit cut off, including the receipt of embarrassing letters.Both directors can go online any time to see what they owe the big wide world.When recalling past invoices paid – voila! click on the image and there it is.It was an accountant’s dream, money, money, money, sorting through things, which should have been a simple bookkeepers job.Ĭred-it has saved many headaches and here are some of the benefits it has given us: As a result, many accounts were paid late and then when it came to the filing of documents, well they were all heaped into a box. In fact, we are now totally paperless and I am managing the administration of this Australian based business office from NZ along with BankLink.īecause of the nature of their business both the company owners spent a lot of time out in the middle of nowhere, working huge hours and were unable to process their snail mail in a timely manner. Thank you for Cred-it it is just amazing for my client in the mining industry. You can even go off on holidays and pay your bills while you are away. The Accounts Online team looks forward to making your accounts even easier and more ‘Stress Free’. Learn how it will benefit your business and how easy it is to use.Ĭontact Us – for the easy to use setup and instruction manuals for CRED-it.Īfter six months if you decide you haven’t saved time, or you do not feel more in control of your cash flow, we will provide you with a no questions, no hassles refund of any money you have paid up till that point. instant access to creditors’ information for easier completion of “accrual accounting”.ĬRED-it is designed to work hand in glove with BankLink to organise and consolidate all your bills in one place.ĬRED-it is a logical, simple and very cost effective upgrade to your existing Accounts Online service.last minute queries with coding or balances owed at year end will disappear.Your accountant gets easy access over the web:.Easy reconciliation of supplier statements: CRED-it will not accept duplicate invoice numbers so no more risk of paying a creditor twice for the same bill!.Online storage: retain scanned copies of invoices within CRED-it for easy retrieval.Easy processing and recording of payments: suppliers will receive an automatically emailed remittance advice once you have selected them for payment.Easy access, anywhere, anytime: no software, all you need is a PC internet connection.Clear reporting: see what you owe even if you need to part pay some of your suppliers.Instant access to supplier invoices: see at a glance what you owe each of them.Welcome to the world of CRED-it – the only online Accounts Payable invoice management software designed to work with generic accounting software, point of sale and invoicing systems.ĬRED-it will benefit your business in many ways to pay bills:
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