Accounts Payable

The accounts payable application is designed for the interactive entry of vendor invoices. These open payable items may then be listed in several sequences and formats for review.  Open payables invoices may be selected for payment through screen review and cash disbursements journal which verifies selections and payment totals. Upon approval, the system prints checks and updates appropriate  general ledger accounts if the general ledger is installed.

 Prior to entry, all vendors invoices are coded for entry with all necessary information such as vendor number, expenses account numbers and discountable amounts. Voucher  numbers may be pre-assigned or may be assigned by the system. A cash total of all invoices to be entered are used to balance each day's entries before payables and G/L distribution files are updated.

 All entries on which discounts are applicable are written to the open payables file for the gross amount of the invoice. Discounts taken are distributed to the general ledger  accounts when the invoices is selected and approved for payment.

 Vendor invoice entry provided for the entry of prepaid invoices by allowing the operator to enter the check number and date. Prepaid invoice amounts are distributed to  expense accounts with the current balances batch. During the next payment selection cycle, any prepaid invoices are automatically included and appear on the cash disbursement journal.

 When entering vendor invoices, an invoice may be placed on hold status. This invoice may not be selected for payment until the hold condition is changed through the open  payables update procedure.

 The distribution of expense amounts is entered at initial invoice entry. Provision is made for the entry of account numbers and corresponding distribution amounts. The sum of  all distribution amounts per invoice must balance to each gross invoice amount before the invoice will be accepted. General ledger account numbers may be assigned to a vendor and entered into the vendor and entered  into the vendor master file. This default account number will be used if no account number is entered with the expense distribution.

 The accounts payable cycle, both invoice entry and payment selection may be run as often as necessary. The following reports provide a daily audit trail: Daily Vendor  Invoices Entered, Daily Expense Distribution, Daily Cash Distribution, Daily Cash Disbursements Journal. These reports are also available at month- end and contain all transactions for the month.

 The Vendor master file is available for inquiry of dollar totals or total-purchase-to-date, purchase-year-to-date, previous-12-month's purchases, aged current open payables  and vendor credit limit.

 The open payables report contains summary information about each unpaid vendor invoice and manifest. This report may be produced for all payables aged by due date report is  used for cash requirements planning. All open payables reports are available by vendor category.

 Open payable items may be selected for payment by individual vendor, individual invoice or due date. All selections are listed on a preliminary cash disbursements journal  prior to printing checks. Invoices may be added to or deleted from the selection batch and the cash disbursements journal may be reprinted. Upon final approval, the payables checks are printed.

 A recent enhancement to the Accounts Payable package is the refund interface with the DIRECTIONS system. Cash refunds are now made automatically by the system when other  invoices are paid.