Creditors Basics
The Tourplan program Creditors is our second important software that we use in accounts payable. Creditors is a database for all suppliers that we use, as well as the system in which we record all payments we are issuing to suppliers. When you open Creditors, this is what it’ll look like:
To open a supplier, you can either search it via the Find option (click the magnifying glass), or simply insert the six-digit supplier code (usually three letters and three numbers) into the supplier code field if you know it.
Once you opened a supplier, it will show you their details. Example below:
After opening a supplier, you can view various details. Here are the most important ones for us:
- Checking transaction type by going to the tab ‘Analysis’. The most common ones are:
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CQ – Cheque. This is a placeholder for any suppliers we don’t have the bank details for. If you see this, and a supplier is due to be paid, we need to check if we received bank details, and request them if we didn’t.
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EF – Electronic Funds Transfer. This means bank transfer and is the most common method of payment.
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DD – Direct Debit. These suppliers are being paid ‘automatically’ once invoices fall due.
- Checking bank details, payment terms, and VAT registration by selecting ‘Currencies’ in the menu on the left. For Ireland and M&K, we use the BIC and IBAN, whereas in the UK, we use Sort Code and Account Number. Click on the currency to find all these details:
- Checking contacts.
To reach the contacts, select Communication Contacts in the left-hand side menu to get the overview:
- The relevant contacts for us are AC – Accounts and RE – Remittances.
- Checking details on processed invoices. See section “Details on Processed Invoices” for details.