The fully-integrated VIP Financial System provides you with automation, flexibility, control, and a wealth of financial reporting capability. When you use VIP Financials for accounts payable, general ledger, and to automatically post all beverage transactions, there’s no need to bolt on a separate financial package. The entire VIP Financial System is included with the VIP Beverage System, so everyone using VIP for route accounting has access to all of these features.
The general ledger system offers a host of features to make your accounting easier. Auto-posting is available for sales, discounts, inventory, COGS, A/R, and more, all with greater flexibility, allowing you to post the way you want. You can also create recurring entries, easy accruals and reversals, create and manage budgets, and you have the ultimate flexibility in designing your financial reports, including grouping accounts and defining columns as you want to.
The accounts payable system is fully integrated with both the VIP Beverage System and the general ledger system. It keeps track of the invoices that you receive from vendors, and allows you to post expenses to any general ledger account. In addition to basic accounts payable functions, you can also create automatic recurring invoices, print checks for customers with a credit balance, use multiple checking accounts to pay invoices, reconcile your bank statement with a data file from your bank, print 1099 forms, and more. The integration with the VIP Beverage System also gives the advantage of using the 3-way matching process of matching product purchase orders to supplier invoices.
“Here at Zink Distributing, we’ve seen many benefits from using the fully integrated general ledger and financials package in the VIP system. One of the areas where we’ve eliminated several manual steps is issuing refunds to customers for escrow deposits or credit balances. Prior to using an integrated financials package, we had to check the balance, fill out a form, hope the retailer did not take the credit while the check was being processed, and then we had to make manual A/R entries. With VIP this whole process is simplified, and now we can seamlessly write a credit check directly from the retailer’s A/R balance. But that’s just one example. Since moving to VIP, we’ve shaved two full days off of our month end closing. Huge savings.”
Randall R. Hackworth, CPA
Chief Financial Officer & Director of Administration
Zink Distributing Company
