Accounts Payable overview summary
- The number of Vendor Accounts you may establish is unlimited as are the number
- Payment terms are user definable on a Vendor level.
- On screen vendor account inquiries include pop-up window selection of vendor accounts
for viewing, editing and entry of payables.
- Vendor Payment and Early Payment Discount Terms may be specified for each Vendor. On entry
of a payable, the Accounts Payable program will calculate the payment due and term
discount due (early payment) dates based on this information. Both Payment Due Date
and Discount Cut-off Date may be overridden at time of entry, or changed, after
posting of the payable. There is no need to access each vendor's invoice to activate
the early discount calculations. When checks are printed with a user specified check
date before or equal the early payment due date,
the program will automatically
deduct any early payment discounts available.
- Term discount calculations
are based on the check date specified when presented
with the print checks menu, and occurs regardless of the actual date the checks
- Accounts Payable Term Discounts may be calculated on amounts before or after taxes.
- Check printing software. Prints checks based on user selectable payable due dates.
Override vendor or payable details as required or place vendor on hold.
- Individual general ledger accounts payable control accounts may be established
for each vendor to handle foreign accounts and multiple bank accounts.
- Payables may be charged to a job (or an unlimited number of jobs) with full control
over where costs are posted in the general ledger.
- Vendor Master File (partial listing):
- Vendor ID of up to 12 alphanumeric characters
- Vendor name or description to 50 characters
- Phone number
- Fax number
- Alternate Fax number
- Cellular number
- Residence number
- General Ledger default payable account
- Accounts Payable Terms
- Early Payment Discount Terms (sometimes called
early settlement discounts)
- Check printing. To print checks, simply specify a payable cut-off date for payment,
a vendor, or vendor range, and all vendor invoices with a payable due date equal
to or earlier than the cut-off date specified will be included in the check run.
A proof list may be printed before printing of the actual checks.
- Based on the specific payment and early payment discount terms specified for each
vendor, the program automatically calculates and deducts early payment discounts
- Payable due dates & discount due dates may be changed after the payables have
been posted. This allows for greater flexibility of selecting invoices to be included
in, or excluded from a check run.
- The Accounts Payable check writing software module allows for Vendors, or vendor
invoices to be placed on hold, which would excluded them from being included in
a check run, regardless of payment due date.
- Various standard off-the-shelf check formats are supported including laser check
- Handles manual and computer generated checks.
- Support distribution to multiple general ledger account numbers.
Accounts Payable Reports
- To provide management with up-to-date information, all reports may be printed
as often as required and are not dependent on month ends or closing of a fiscal
- Detailed or Summary Accounts Payable aged reports may be printed.
- Provides Detailed or Summary Purchase Journals.
- Provides Detailed or Summary Disbursement Journals.
- A Cash Requirement report may be printed indicating in detail each vendor invoice
included in the payment if check(s) were to be printed for the payable due date
- Shows discounts available if early payment discounts are offered by a vendor.
- A history of Accounts Payable transactions, including disbursements, may be tracked
and kept on file for any number of fiscal periods.
Pricing, additional details and ordering