Streamline the Prepayment Process with Cetec ERP Accounting Software
In response to the recent turbulent supply chain, Cetec ERP has seen a notable increase in the number of purchasing departments purchasing inventory with a credit card, or leveraging prepaid inventory. Vendor prepayments and credit card purchases are a valuable way for a company to control cash flow by reducing expenses and avoiding delay in receiving your materials or services for production.
Dealing with vendor prepayments, whether for prepaid inventory or credit card purchases, can be one of the most tedious tasks for any accounting department. It’s important for SMB manufacturers to have the right tools to manage vendor prepayments quickly, efficiently, and accurately.
Cetec ERP easily handles vendor prepayments with its comprehensive suite of features. Streamline setup and tracking for your vendor prepayments by creating payment types, setting up payment terms, and tracking the progress of each payment. This data shows in real time on your payment tracking reports, giving you more visibility and control while automating complicated accounting tasks.
Automated systems provide greater accuracy, improved cash flow management, compliance support, and cost savings compared to manual processing payments. For the details on how Cetec ERP manages vendor prepayments, check out the How To video here.
Cetec ERP provides an effective way for SMB manufacturers to manage their vendor prepayments quickly, efficiently, and accurately. You can streamline your vendor pre-payment processes, improve your cash flow management, and reduce administrative overhead.