Supplier Payment Management ‐ Introduction

Supplier Payment Management - Introduction

Supplier Payment Management

Supplier - supply Pharmaceuticals - Pharmacy Consumables - Stores Lab Consumables - Stores Fixed Assets - Stores

When suppliers give goods Direct Purchase Goods Receive

Other Important consideration Cancellation Return

May be called as distributor

Supplier - Credit / Cash / Cheque / Bank Transfer (Slip) / None / etc

Supplier Payment Completed at for cash/card / Bank Transfer / None at the time of Direct Purchase or GR

For Credit > Later we pay the supplier Usually within an agreed credit Period

When we pay credit > we can pay more than one purchase bill, GRN Or we can pay part or we can pay in full for a few with part from other

For one GRN / DP > we can have single payment or multiple payments One payment can cover multiple GRN/DP or single

Payment settling can use the following payment methods - Cash / Cheque / SLip (Bank Transfer) / Credit Card CAN NOT USE Credit

can configure to approve payment and complete payment (some institutions do that, some don't)

Cheques are collected - During GRN/DP + Payment Settling They may be dated cheques - therefore Have to mark cheques as realized

Above are handled by supplier payment management

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