Gearix is a powerful enterprise solution for handling all functions associated with vendor invoice and payment processing. Standard, advance, credit memo, employee and withholding tax invoices are supported. You can view outstanding liabilities for different vendors and identify vendors with whom you do most business. The system automatically avails cash discounts by selecting invoices for payment processing on scheduled payment discount dates.
Payment and tax amounts for invoices are automatically calculated. Payment system prints cheques and payment advices and reconciles checking accounts. System generates an invoice for the collected withholding tax against which funds are automatically released to the relevant tax authority. Vendor payment aging function segregates open invoices with outstanding balances according to user-defined criteria.