Effective remittance management

From satisfying priority payments to answering supplier demands, your ledger team has all the tools needed to work smoothly and efficiently. Remittance advice notes, cheques, credit card and BACS payment are all automated enabling confidence in high-volume processing. Advance payments, deposits, partial payments and all cash allocations are handled with ease.

Suggested payments

Plan cheque runs on-screen, working by date or due date and advising on settlement discounts available. In either case, you can specify up to two levels of approval for a pay run, using hard copy suggested payment lists or simple on-screen authorisation. Remittance advice notes, cheques and BACS payments are all automated. Advance payments, deposits, partial payments and all cash allocations are handled with ease. If required, remittance allocations can be reported or reversed in the future.

Payment of credit cards

To save re-keying large volumes of expenses data, credit card statements can be imported electronically and turned into a credit card voucher. This form is then allocated to the appropriate owner who simply needs to classify each entry in terms of expense type and project information if applicable.

Expenses and credit card forms can be entered in either home or foreign currency values with associated exchange rates to cover international use.

Paying your sub-contractors

Sub-contractor remittance payments can be broken down into taxable and non-taxable elements by type. For example, as you enter payment details, each element can be flagged as labour, materials, subsistence, etc. These paytypes enable the system to record the taxable and non-taxable elements.

Payment & deduction statements

Issuing detailed monthly statements to your sub-contractors is simple. Pre-formatted reports show payments made and tax deducted as per HMRC requirements. Duplicate statements of payments/deductions can also be produced for historical purposes.

Applications for payment

Forms can be raised on a cumulative basis as required and take into account discounts and retentions as well as registering certificates received. Upon approval or certification, the system can create an invoice automatically for processing in the normal way. Any retentions held back are calculated automatically for final invoicing at the appropriate time.

Online submissions to HMRC

An easy-to-use CIS300 report can be submitted online, increasing efficiencies and helping to avoid late submission penalties. Such submissions benefit from a confirmation from HMRC stating receipt and processing of the form.

Further information:

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