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Promissory Payment & Receivable Notes

Notes Payable/Receivable Application (NPRA) monitors the movements of the company's financial activities.

NPRA features:
  • Operate on an integrated basis with the applications of Receivables, Payables & General Ledger, with regard to notes receivable/payable and their payment methods.
  • NPRA can be used independently.
  • Monitor all the movements & operations of notes receivable/payable, including: identifying the note receivable/payable (i.e. cheque – trust receipt – draft), defining the documentation type of notes receivable/payable (i.e. cheque issuance – cheque collection – cheque returning – cheque rescheduling … etc.).
  • Export all movements to the general ledger to record the relevant entries in accordance with system-devised criteria.
  • Produce generic reports covering all notes as well as note-specific reports (reserved – collected – rejected – cancelled).

Examples of NPRA functions include:

  • Creating files & moving notes receivable/payable between files
  • Issuing notes receivable/payable
  • Collecting notes receivable/payable
  • Rejecting notes receivable/payable
  • Rescheduling notes receivable
  • Endorsing notes receivable
  • Cancelling notes receivable collection & cancelling notes receivable/payable.