Accounts Payable (A/P) Functions & Features

The Accounts Payable (A/P) Functions & Features comprise the following elements:

• A/P Ledger Posting

  Major modules below include Detail or summary G/L posting review;Account codes can be overridden or inputted;All transactions are posted daily to the A/P ledger and are automatically posted to the G/L;Reports to the G/L account the total value of all transactions that occurred in a specified period;G/L distribution report;Projects total inventory dollars during a user-specified period;. A/P Ledger Posting, Accounts Payable (A/P) Functions & Features

• A/P Transactions and Controls

  Main modules below cover Online entry for all A/P transactions, including EDI entry;All A/P transactions updated in real time;Selected transactions on deferred batch;Checks online batch total or voucher balances;Validates vendor invoices to avoid duplication;Deletes inactive vendor after a user-defined period;. A/P Transactions and Controls, Accounts Payable (A/P) Functions & Features

• Control of Payments

  Functionality below covers Verification to prevent a vendor with an open PO or unpaid invoice from being deleted;Verification to prevent a vendor active in current year from being deleted;Negative amount can be added to an invoice (negative invoice line) to indicate, for example, trade discounts;Places holds on all vendor invoices for a given vendor;Release payment at vendor level, invoice level, or line item;Supports selective payment by vendor type;. Control of Payments, Accounts Payable (A/P) Functions & Features

• Policies and Procedures

  Main modules covered Multiple companies, divisions, and cost centers;Data associated with business units according to organizational hierarchy;Different business segment views for supplier and payables information;Company, division, or cost center accounts;Sets up A/P system with distinct processing cycles for each company or account code;Approved vendor list for all business entities;. Policies and Procedures, Accounts Payable (A/P) Functions & Features

• Reporting

  Feature and functions covered Reports on payment hold details, including who placed the hold and when; and when the payment is to be released;Employee expense reports include details on meals, transportation, lodging, etc.;Employee expense reports (month-to-day and year-to-date);Expense reports contain summarized lists divided by category;Creates report of expenses by cost center or division;Reports on open travel advances and associated data;. Reporting, Accounts Payable (A/P) Functions & Features

• Supplier Master Data

  Features and functions below include Creates separate records for vendors not used on a regular basis;1099 or W2 vendor designation (US tax forms);Postal code field (including US zip code format);Vendor name;Vendor number;Vendor type;. Supplier Master Data, Accounts Payable (A/P) Functions & Features

• Journal Invoice Process

  Functionality below covers Prepays vouchers or makes payment with manual checks;Online entry and processing of vouchers, with views for purchase order information, receiving document information, and credit memo information;Three-way matching for invoice, order, and receipt information (automatic and accommodates tolerances);Multiple vouchers for a receiver or creditor;Uses classification codes to group transactions;Multiple vendor sites can be used on a voucher, including different addresses for shipping and remitting;. Journal Invoice Process, Accounts Payable (A/P) Functions & Features

• Processing of Checks

  Major modules below include Funds can be drawn from more than one bank;Checks can be written from more than one bank;User-selected check formats include printed check and EFT formats;Suppliers can opt to receive a single check per invoice;Users can select criteria such as supplier number, voucher number, due date, and discount date, to determine check sequence;Check run can be recovered and initialized if there are printing problems;. Processing of Checks, Accounts Payable (A/P) Functions & Features

• Invoice Process and Aging

  Feature and functions include Creates miscellaneous distribution lines to record charges and invoices for items that do not have POs;Validates vendor invoice numbers, with only valid invoices posted to the accounts payable ledger being scheduled for payment;Option to pay invoices immediately;An invoice that was entered in the system as a system check can be redesignated as a manual check;No new vendors added at invoice entry (security);A/P aging report on outstanding items;. Invoice Process and Aging, Accounts Payable (A/P) Functions & Features

• Processing of Payments

  Main modules below cover Queries online accounts' voucher histories and analyses of payment histories, late payments, and cash discounts;All transactions pertaining to a particular vendor are assigned to a user-specified account;Users can specify complex payment discounts for a payment period by using term codes, such as "step down";Cancels or suspends standard vendor terms;Assigns dates and standard number of days to credit or discount terms;Automatically calculates discounts based on vouchers and terms of credit;. Processing of Payments, Accounts Payable (A/P) Functions & Features