M1 Accounts Payable allows you to enter vendor invoices for purchases that you make and then create cheques and electronic payments for the invoices you want to pay. You may allow the system to generate payments for all invoices due, those for a specific vendor, or only for specific invoices. Invoice lines can be brought through from the Purchase Order, saving time and eliminating errors.
If a vendor calls you to discuss an invoice, you will have complete information at your fingertips, and you may keep that history for as long as you would like. Accounts Payable allows you to update Purchase Orders in the M1 Purchasing Control module, as well as actual job costs. Adjustments are created if the purchase price does not match the invoiced price. With M1 Accounts Payable, you will always know how much you owe and when it is due.
Improves cash management through the automatic handling and reporting of discounts available, payment due dates and payment selection methods.
Allows easy entry of all invoices, credits and payments.
Checks may be printed for payments selected. Manual cheques may also be created.
EFT payments can be created for use with banking software.
Jobs created in the M1 Job Management module may be updated directly by material and subcontract costs entered through Accounts Payable.
Accounts Payable transaction and vendor history may be kept indefinitely.
General Ledger entries are automatically created and posted from Accounts Payable transactions.
Allow creation of recurring Accounts Payable invoices.
M1 Accounts Payable is fully integrated with the M1 Job Management, Inventory Management, Purchasing Management and General Ledger modules.