Lennox Computer Enterprise Automation Software
Unit 8, 14 Ashtan Place, BANYO 4014
Brisbane, Australia
Phone: 07 3267 7880
http://www.lennox.com.au
Business Accounting Software
Innovation, Installation, & Support
Lennox Computer Home Page
eMail: info@lennox.com.au
Est. 1980
eCommerce
LILAC Creditors Ledger
Creditors (or Accounts Payable) is an accounting ledger with the role of keeping track of money owed by the business to suppliers of goods & services on credit accounts, and who receive payments from time to time according to an agreed aging of the debts.

The LILAC Creditors Ledger is an integrated part of the whole LILAC package, and generally many of the credits are created by the operation of other parts of the package such as Purchasing and Stock. The Creditors Posting document is used to capture items (invoices from suppliers) for expenditure not processed through the Purchasing module.

The LILAC Creditors Ledger could be operated in a purely stand-alone mode, but nowadays most businesses would expect to exploit the benefits of integrated accounting operations.

LILAC Creditors are implemented as an "open-item" regimen rather than a "balance forward" style. This means that the software keeps track of the details of any unpaid or partly paid items (usually invoices), until such time as they are fully paid for. 

The debit entires balancing the credits to the Creditors Ledger may be directed and dissected into any part of the LILAC balancing suite of Ledgers
Names & Addresses & Mailing Lists
The LILAC Creditors Ledger utilises a standard, general approach to the handling of names & addresses within the LILAC data base. That is to say that the name & address used for the creditor has a separate existence in the data base and may be utilised in other modules such as mailing, debtors, delivery location etc. Also a prospective supplier present as a mailing name & address can have a Creditors Account opened without the need to re-enter the name & address and associated data.
Cheques, Remittances, and Electronic Funds
Payment selection can be fully automated using the "Suggest" function in the Creditor Payment document. This selects invoices for payment based on their age in relation to the payment terms negotiated with the supplier.

Cheques may be printed by the software on pre-printed cheque stationery, or remittance advices may be printed to accompany hand prepared cheques.
Suppliers who provide banking details may be paid electronically via an efficient interface to the Australian banks ABA Electronic Funds Transfer system.
The LILAC Creditors Ledger is a comprehensive, fast easy-to-use supplier accounting and administration tool.
Lennox Computer - 07 3267 7880
info@lennox.com.au
Brisbane, QLD, Australia.
Download a Trial Version of LILAC
Return to top of page.