Glossaries

Capturing a Creditor's Invoice involves the process of entering and recording the Invoice details received from the supplier or manufacturer into the system.

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The Cash Register is used to manage the payments made by patients for the services rendered by the practice.

• Benefits of using the Cash Register in the Practice:
  • Processing and Recording of payment transactions in the Practice to enable the tracking of Patient transactions.
  • Speeding up checkout time.
  • Save unnecessary costs of receipt books by using the receipt option of the Cash Register module.
  • Cash Registers can be set up per user so that each user can finish his or her session, complete a cash-up, and have the cash-up properly captured for auditing purposes.
  • End the Cash Register session after collecting all the payments for the day so that the day becomes an auditable unit.
  • At the end of the session, the Cashier / Receptionist counts all payments received for the day for reconciliation with the system.

By Creating a new Creditor/Supplier the user creates an account on the GoodX System. With the account, a user can document goods and services that the Practice receives from the Creditor. An organisation, business, or individual of a legal type who has given a Practice product, service, or financial loan is referred to as a Creditor. Once a Creditor has delivered the goods/service, the payment is expected at an agreed-upon date.

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Each Creditor has an account with all the transactions that have been done on the Creditor's account. The account enquiry is quick access to the overview of a Creditors account with all the transactions. Account Enquiries assist the practice to see what payments have been made to the Creditor, the outstanding payments as well as the current balance on the Creditor's account etc.

A creditor is an entity, a company or a person of a legal nature that has provided goods, services, or a monetary loan to a practice
Creditors refer to the party that has delivered a product or service and is owed money by one or more debtors. 
Once a creditor has delivered the goods/service, the payment is expected at an agreed-upon date. 

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This Creditor Transaction Drilldown Report is used to generate the following monthly reports of the Creditors:

• Ledger report:
  • The Ledger report groups all the transactions into different sections, eg Creditor invoices, Credit Notes, Journals and Cheques.
  • The Ledger report will also have an opening balance from the previous period and a closing balance for the current period.
  • This is only a summary that summarises all the transactions and gives the movement total of all the Creditors for a certain period.

• Audit trail report:
  • The Audit trail shows all the debtor transactions that were done for a certain period. The details will be on invoice level. The report can be used for fault finding and grouping information. The different columns in the report will be the same on all types of transactions but only the information applicable to that transaction will display in the column.

• Audit trail invoice detail report:
  • This Audit trail shows all the creditor transactions that were done for a certain period. The details will be on the item level. The report focuses on the items that were received or services that were rendered to the practice, on all the creditor accounts, with more information applicable to the lines. The report can be used for fault finding and grouping information or filtering on certain codes or certain stock items. The different columns in the report will be the same on all types of transactions but only the information applicable to that transaction will display in the column. 

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A Creditor's Statement is a comprehensive document that provides an overview of the Creditor's account information. The Creditor's Statement facilitates reconciliation between the Creditor and the Practice by presenting a summary of all transactions between the Creditor and the Practice. The Creditor's Statement displays the current balance owed to the Creditor and lists all the invoices, payments and transactions made by the Practice. This document also serves as a check to see if any payments are overdue and give the user a clear understanding of the financial status of the account. A Creditor is a company or person the Practice owes money to for services rendered or goods given. There are three types of Creditors a Practice will encounter a Normal Creditor, an Assistant Creditor or a Manufacturing Creditor.

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