teqcontrol handles an unlimited number of foreign and home currencies allowing you to set up exchange rates per transaction type and record exchange rate fluctuations automatically.
The nominal ledger is easily posted to by all other teqcontrol modules using flexible integration rules, by batch update or real time transfer. This ensures you always have an accurate and real time financial position of your business. Setting up recurring journals with a specified frequency can save a huge amount of time having to re-key the same journals each week, month or quarter.
teqcontrol allows you to email or print customer Statements, Invoices and Copy Invoices. They can also be automated with a scheduled task. The customer enquiry allows you to see all of the information you need in one place. Invoices and Credit Notes can be printed at a click of a button. You can drill down to the original sales order to view vital information from order through to despatch. All critical information is available while you are on the phone to a customer with a query, allowing you to provide them with instant answers. The Aged Debt report can be run at any time giving you a true position of customers who may need chasing for overdue invoices.
teqcontrol allows you to manage all supplier transactions ensuring your cash flow is automated and improved. With a fully integrated purchase invoice register you can ensure that purchase invoices and credits can be posted as soon as you receive them.They will remain unpaid until they have been authorised and matched against system generated Goods Received Notes. The teqcontrol Payment Proposal routine allows you to have any number of different payment proposals open at any one time. These can be for different pay methods and currencies enabling you to see exactly which suppliers and invoices are due to be paid. Customised BACS files can be created and when updated, purchase cash is automatically posted to the creditors ledger and allocated against the invoices/credits to be paid.
Credit Control can be easily tailored to be as strict or relaxed as you wish. You can merely set it to warn users that a customer is over their credit limit or has been placed on stop and allow them to use their own judgement whether to raise the order. Alternatively you can allow the order to be entered on to the system and placed automatically on a credit held list for your credit control department to review and release. Scheduled tasks can be set up to run overnight to credit hold outstanding orders if the customer has overdue items, and orders can be automatically released if a payment is received which reduces their credit limit enough to allow the order to be despatched.
Fixed Asset Manager
The teqcontrol Asset Manager allows you to keep track of your assets and their depreciation rates ensuring you maintain the correct net value for them throughout their lifecycle. It caters for all types of assets and depreciation types and offers comprehensive reports and enquiries.
Enquiries and End of Period Reporting
Enquiries and End of Period Reporting come as standard providing instant access to vast amounts of data stored within the Financial module. There are comprehensive Personal Ledger enquiries which allow you to drill down on the individual customer or supplier account to view original sales or purchase order detail and to the Product Enquiry. Standard reports include Trial Balance, Profit & Loss, External Customer Statements, Aged Debt & Credit, Customer Turnover, Intrastats and Commission Statements. All financial data can be exported to a csv file or directly to your chosen spreadsheet program.
If you are trading within the EU you have to comply with complex VAT rules, you can define and maintain the information within teqcontrol which allows you to easily produce EC sales Lists and Supplementary Declarations. These include Country Codes, modes of transport, terms of delivery, commodity codes, and nature of transaction codes for Intrastat purposes.
Timely Revenue Collection, Improved Cash Flow
Some companies take up to 90 days to collect on customer invoices. The teqcontrol System can automatically generate a list of late paying customers, send notifications as needed, and "red flag" customers whose credit should be put on hold before more products are manufactured and/or shipped.