The Settlement Payments or Settlements Processing (SP) module is a payables module. It’s ideal for companies with contractors or employees who are paid based on invoicing or jobs.
SP allows you to:
- Manage employee and non-employee payables
- Automatically or manually take deductions
- Maintain a reserve account
- Automatically calculate payment due over a range of dates or transaction numbers
- Print a settlement statement
- Issue checks to non-employee contractors
- Post payment information to the PR module for employee participants
Settlement information can be entered for participants as you enter transactions in other modules, including Order-, Warehouse-, Freight-, and Service Management. Entering the settlement amount directly against transactions in those modules allows your staff to enter the payable at the point the information is gathered, eliminating a data entry step for many organizations.
The ABECAS Insight Settlements Processing module integrates with a number of other ABECAS Insight Modules.
- With Freight Management – The participant share information transfers into SP for payment.
- With Order Management – The commission information transfers into SP for payment.
- With Payroll – The settlement information for employee participants transfers to payroll where all payroll functionality is brought into play.
- With Accounts Payable – The payment of charges/deductions for various expenses associated with each participant.
- With General Ledger – The accounting information transfers to the GL and records the payment of the settlements and the advance and deduction information.
- With Cost Accounting – The accounting information transfers to CA and records Activity and Job entries.
- With Fund Accounting – The accounting information transfers to FA and records Fund entries.
- With Identities – All participant/salesperson codes are maintained in the ID module.
