Payment and Accounts Payable - Page 1

The designer of Conti's Web Applications Suite recognizes that, in construction business, the most voluminous transactions involve payments.

That is so because construction companies pay for so many things such as numerous kinds of materials, down payments to suppliers and sub-contractors, sub-contractors' materials and services, office equipment, computer equipment, numerous tools and equipment, transportation equipment, communication equipment, workers' protective equipment, workers' uniforms, more than 30 kinds of project and head office overhead expenses, advances to officers and employees, petty cash/revolving cash, consumables, office supplies, and medical supplies.

Thus, the Payment System in the Conti's Web Applications Suite was designed to be very efficient.

The highly efficient and very user-friendly Payment System has the following functions and features:

1. Automatic and efficient search of account code
    after keying in the first few characters of the
    account name

2. Based on the payment gross amount, the
    system automatically calculates the following:

    a) Cost of material, labor, sub-contract,
        or overhead amount (debit)

    b) Input tax amount (debit)

    c) Withholding tax expanded amount (credit)

    d) Check amount (credit cash in bank).

3. Allows payment of single purchase order or
    multiple purchase orders for single project or
    multiple projects in one payment voucher

4. Allows other payments that do not involve
    purchase order

5. Handles backdated payment transactions

6. Displays/prints payment voucher

7. Displays edit list of payment for review before
    posting it to accounting journal and general
    ledger

8. Posts payment transactions to appropriate
    accounts in the accounting journal and general
    ledger.

9. Displays/prints Payment Report that shows the
    details of the payments; This Payment Report
    may be exported to Excel.

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