Compu-Clearing's financial systems are divided into the following subsystems:

• Disbursement Reconciliation
• Debtors
• Creditors
• General Ledger
• Cash book

DISBURSEMENT RECONCILIATION SYSTEM

This is a system in which all items classified as disbursements in the invoices generated through the Compu-Clearing systems, are credited using posting codes and shipment numbers. These credits are either transferred to the creditors system or paid out directly out of the disbursement reconciliation system.
In either of these instances, additional revenues can be generated if the amount paid, or transferred to creditors, is not the same one as was originally credited. Extensive inquiry and report facilities are available.

DEBTORS SYSTEM

Compu-Clearing's debtors system is both a balance forward, and an open item system. Apart from the regular open item method of working, there is a mixed statement available, in which the left part of the statement is balance forward, and the right hand part is open item, but it remains open item in the computer.
Each debtor can have a different method and, therefore, complete satisfaction for each debtors can be achieved. The system is fully integrated to the invoicing and the entry system. Therefore, if the customer has exceeded his credit limit, the bill of entry will not be produced.
The system works across branches. Invoices in Durban or Port Elizabeth, for example, can be automatically posted in Johannesburg; and credit limits in Port Elizabeth can be checked against those that are centrally set. Statements can be produced on a laser or a matrix printer.

CREDITORS

The creditors system is a multiple currency system in which each creditor's records are maintained in South African Rand and then relevant foreign currency. The system is designed to cater for both disbursement creditors as well as regular trade creditors. Remittance Advises are produced. The creditors system caters for VAT, whereby items can be entered inclusive of VAT, or exclusive with the VAT being entered separately, etc.

GENERAL LEDGER SYSTEM

The General Ledger System is a full and comprehensive multi-year general ledger system. Transactions can be keyed into the current financial year, without closing off the previous financial year. Transactions are accumulated for the entire financial year. So when a yearly ledger is printed for a specific account, it prints continuously for the entire year, and auditors do not have to be given 12 sets of books at the end of the financial year.
When printing the ledger, there is an option to print the other side of the accounting transaction against each line, thus creating an easy audit trail.
The general ledger system is fully integrated with all other systems, and there is no need for the re-keying in of information whatsoever.

CASH BOOK

The cash book system - really a subsidiary of the general ledger - retrieves cash transactions from all other accounting systems and puts them into one or more banking accounts. Reconciliation facilities are available and it is full integrated with debtors, creditors, and the disbursement reconciliation systems.