Sapo POS is a sales and account payables / receivables management software trusted by more than 100,000 businesses and shop owners. All payables and receivables of suppliers, shipping partners, and customer debts are accurately managed on the software.
In the following article, let's learn about Sapo POS software and how to manage account payables / receivables automatically, effectively and promptly, in order to minimize losses and errors.
Acccount payable / receivable management software Sapo POS
1. Why should you use software to manage account payables/ receivables?
If you are still calculating manually using notes or excel, forget about it. What will happen when your notes are lost? What guarantees your data will be intact after 1 year? How to calculate liabilities with suppliers without error? How to know the total amount of receivables you have to pay now?
Using software to manage account payables/ receivables is the first thing you should do to manage your debts more effectively
1.1. Saves 80% of time and effort
Instead of having to take notes manually, rather than filling in an excel file for debt management, Sapo POS will automatically record debts when importing, selling or shipping activities incur. You will not have to spend time tracking and calculating debts anymore.
1.2. Record details, minimize errors
Purchase and sales orders are recorded in detail, not only the receivable/payable amount but also detailed information on the quantity and amount of each product. Especially when you have online sales on Facebook and ship orders, Sapo POS software will help you track your delivery orders right on Sapo as well as calculate shipping and COD amount to help you easily check your debt at the end of the period...
Managing payables/receivables using software helps minimize errors
1.3. Automatic syncronization
With cloud technology, all data stored on the software will be fully synchronized automatically. You no longer have to worry about data loss like when calculating manually
You can use a computer or phone, and even when you change to a new device, all data about payables/receivables from your customers , suppliers, and shipping partners will be automatically synced to your device without having to take any action
Reading this far, you must have realized the great benefits of using Sapo POS software to manage debt, right? So what are you waiting for not register to try the software? Sapo POS gives you 7 days free trial with full features. Use it and enjoy it.
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2. How to effectively manage payables/receivables with Sapo POS
The tool is already here, now how to use and make the most of the efficiency of the software to manage debt for the store?
2.1. Manage payables to suppliers
When a purchase order is placed with a supplier, payables will be recorded after you create a purchase order for each supplier. In Sapo administration, go to Reports > Financial statements > Accounts payable report. All payables will be summarized here
Debt management software Sapo POS
The report will record the details of the purchase order, order creator, date and time, etc. Just by clicking on the purchase order code, you can already view the details of each product, quantity, amount, ... of that order. For example, if you return some products in a purchase order, the payable amount is also deducted accordingly.
The store owner can fully understand the status of store's payables/receivables, which one needs to be paid first, which one can be paid later, which supplier allows Buy now, Pay later, etc., through which, you can plan how to manage cash outflow reasonably, paying for debts that need to be prioritized first.
2.2. Manage customers' receivables
Similar to payable management with suppliers, the customer receivable report will help you summarize receivables of each customer. In Sapo administration, go to Reports > Financial statements > Receivables report.
Manage debts with Sapo POS
Receivables report will help you quickly oversee the debt situation for each customer. If you want to see the details of the debts of a specific customer, click on the corresponding customer code.
Receivables management software Sapo POS
Here, you can see the details of the orders, receipts, date, time, amount, etc. When the customer comes to pay, you just need to collect the current receivables amount and then click the Create receipt / payment button to finish. If necessary, you can click on the order number to see each product that the customer has purchased at that time
Customer receivables report will help shop owners conveniently manage and quickly find all information when needed. You can easily check the transaction history, debt level, debt term, date, product, etc. of each customer.
If using chain management software, managers can also easily manage reports for each separate store in that chain. In addition, the software also supports exporting the debt report file as an excel file when the manager wants to print it
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2.3. Manage debts by assigning roles to employees
Role assigning function is one of the features of Sapo POS. With this feature the debt management problem will be resolved effectively and accurately.
The management of receivables and payables is a very complex job and requires close monitoring. However, this job is often not handled directly by the shop owner because of the busy nature of the job, and the sales staff does not have enough authority to solve it.
Therefore, based on the employee assigning roles function, the store owner can assign an accountant or the person in charge of handling to access the receivables/ payables data.
From there, whenever the software is opened, the debt notification box will automatically appear and remind the authorized person to manage and coordinate debt collection and repayment.
Assigning roles to employees
On Sapo POS, you can add new employees, edit employee roles and configure detailed permissions for each item. For example, accounting staff managing revenue and expenditure, and account receivables/payables will not be authorized to sell or manage employees, but can view reports and view/edit payment or receipts vouchers
Above is a guide on how to effectively and closely manage debt with Sapo POS debt management software. Try it out now for your store and see the result!
If you don't have the software, don't worry, Sapo offers you a free 7-day trial to comfortably experience and use the debt management feature as well as all other features available on Sapo.
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