The Accounts
Payable module is designed to handle all of the processing necessary to manage
invoices, credit memos, check processing and reconciliation, aging and
reporting, and independent contractors. Paid documents are stored in the system
to prevent duplicate invoice and check processing. Period reporting consolidates
all of the expense and disbursement activity each month for management review.
Outside services and materials
purchases can be tied directly to jobs during invoice entry.
Multiple payment selection methods
provide better control over check processing.
Complete audit trails of all
distribution and disbursement activity are provided for general ledger
posting.
User-defined document groups let
you specify report formats and generate 1099s.
Comprehensive Vendor
Maintenance
Establish vendors as permanent for
regular suppliers, or temporary for one-time purchases. Quickly access current
balance, invoice and payment activity, and notes.
Multiple Banks
The system can accommodate 99 bank
accounts. You select which bank will be used to issue checks for each check run.
Term Codes
Define vendor terms codes to
calculate due dates and discounts automatically. Terms may be based on day of
the month, the number of days, or a specific date, and allow for multiple
payments.
Recurring Payables
Establish repetitive, uninvoiced
payables as recurring documents and post them to the specified accounting
periods. Control the expiration by cut-off date, number of payments, or total
amount disbursed.
Purchase History
Store up to two years of current,
year-to-date, and prior year invoice totals, discounts taken, and payment
figures for each vendor.
Check Processing
Pay invoices individually, or specify
a range of discount dates, due dates, or vendors. Documents or vendors on “hold”
will not be processed. Make partial payments and adjustments at any time. Manual
and voided checks are easily recorded and updated in the vendor account.
Cash Requirements
Automatically calculate and report
your cash requirements for maximum flexibility of cash management. You can
designate the number of days in six periods.
Check Reconciliation
Use this time-saver to reconcile bank
statements. The list of outsanding checks will be totaled and printed by the
system.
