Accounts Payable

 

Objective

 

To provide timely, accurate and efficient control of processing invoices, paying bills and analyzing expenses and available discounts to improve cash flow, while maintaining close relationships with suppliers.

 

The Value of Accounts Payable

• Forecast current and future cash requirements easily and accurately
• Utilize the invoice registration system to ensure invoices have been authorized for payment
• Complete purchase analysis of suppliers
• Use Goods Received Notes to track Accounts Payable accruals and control price variances
• Provide automation of payment processing
• Take advantage of settlement discounts
• Streamline data processing by approving supplier invoices electronically
• Support recurring expense entries
• Process manual and void checks
• Manage suppliers by branch

Matching Accounts Payable to your business

• Process in multiple currencies (EMU compliant)
• Link suppliers to default ledger codes
• Manage permanent and temporary suppliers
• Contra invoices between supplier and customer
• Manage multiple branches
• Support full TAX/VAT/GST
• Two tier tax system
• Post transactions to current and two prior periods
• Expense invoices over multiple general ledger accounts
• Automate postings of recurring monthly entries for leases and rentals
• Automatically calculate due dates and discount dates with payment alerts and suggestions
• Record invoices for approval prior to liability
• Release payments for multiple local and foreign currency banks
• Process concurrent payment cycles
• Automatic or user selection of invoices for payment
• Provide the ability to place an invoice on hold and restrict payment
• Maintain history of receipts and invoices
• Define check, remittance and label formats
• Electronic trading suppliers
• Capture balance and historical invoices
• Revalue foreign invoices
• Automatic numbering of suppliers

Integration

• Integrates with the following modules:
• Accounts Receivable
• Cash Book
• Electronic Funds Transfer
• General Ledger
• Purchase Orders
• Work in Progress
• Business-to-business Training
• Contact Management

Audit trails and reporting

• Cash requirements reporting to improve cash management
• User-defined selection criteria for flexible reporting
• Free format check and remittance advice
• Manual checks
• Complete audit trails of invoices, payments and master file mendments
• Detailed screen query with history and graphics
• Maintains payment history as required
• Label print programs for mailings
• Grouping by supplier class, branch and bank
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