FULLY INTEGRATED ACCOUNTING - AR, AP, GL & BILLING Module

The CargoTrac™ Accounting systems have recently been rewritten to allow companies with various lines of business to take advantage of a single accounting and billing system. This ensures a centralized client data base of all information, continuously up to date and available to all users. We offer a powerful Foreign Currency Accounting module which provides for the receipt, conversion and booking of foreign currency invoices, as well as the flexibility to accommodate International Accounting principles or Receivables and Payables. The CargoTrac™ Accounting systems are state of the art.
CargoTrac™ Accounting Systems are tailored to the needs of the Freight Forwarding and Customs Brokerage industries. Operations enter the receivable information and the costs <sometimes estimated> of vendor services associated with the shipment, together with the vendor and the vendors reference number, if known. The forwarder/broker receives a sales journal and profit/loss estimate at the time the shipment is booked. The information entered by Operations regarding the payable associated with each shipment is used by Accounting to insure that no vendor is paid twice for the same service or that no vendor overcharges for the service.
This Accounting system is specifically designed to provide your company with a bridge between Accounts Receivable and Accounts Payable. Throughout the accounting system, information on both the receivable and estimated payables are displayed to insure reconciliation of the actual payables associated with the shipment is facilitated.
CargoTrac™ compares the actual amount of the vendor invoice with the estimated cost entered by Operations and flags the Accounts Payable staff if there is a discrepancy.
The Accounts Receivable and Payables are created upon billing codes. A distinct advantage of CargoTrac™ is in its ability to accommodate unlimited billing codes and maintain variable length reference numbers. A further advantage of the application is the ability to oversee and control commissions due from airlines, steamship lines and agents.
The Accounts Receivable System maintains great versatility within the billing and cash receipts area. Invoices can be reversed by automatic Credit memo which crosses all areas of operations. This ensures a centralized database of information continuously up to date and available to all users.
There is great versatility within the billing and cash receipts area. Invoices can be reversed by automatic credit memo and differences between open receivables and cash received could be reconciled at the time of cash application.
Invoicing can take place on the day of shipment from the origin, destination, a centralized location or a combination of each. The system can be set up to check which method of payment is agreed, check customer records and optimize the invoicing on the shipment according to your requirements.
Depending upon the degree of control required, the invoice may be issued directly from the branch office closest to the payee, reducing the time it takes the invoice or remittance to transit the mails. This feature provides an increase in cash flow that can fully cost justify the CargoTrac™ system.
CargoTrac™ insures that no customer goes beyond the credit assigned to them. Thus, if a client is beyond their credit, the handling of billing is not feasible unless credit override is exercised. Also, client credit override reports, which can be produced daily, weekly or on demand, will reflect all clients over their limits, date of credit override and the individual who exercised the override.
The Accounts Payable system provides reports for paid/unbilled transaction, billed/unpaid transaction, differences between estimated and actual payables and many other reports which would introduce stringent controls within your Accounts Payable Department.
CargoTrac™ Accounts Receivable and Payable Systems interface for agent accounts precluding payment to agents if accounts receivable exceeds accounts payable.
The system can book payables by direct entry when an obligation occurs by purchase order by advances and directly from billing.
The system provides current and future payment schedules, assist in vendor invoice auditing to insure that vendors do not over charge or double bill.