Accounts Payable provides the accounting information required for analysis and control of your company's disbursements. Invoice, hand check, and adjustment transactions entered online plus computer-generated checks, along with detail or summary transactions transferred from other applications such as Commission Accounting or Payroll, provide the input to Accounts Payable. All transactions entering the system are controlled and processed against individual vendor accounts. Validation of data, such as vendor, account, and item code, occurs online at entry time and does not allow invalid data to post to master files. Journals provide additional error checking and prevent posting if any errors are found. Accounts Payable can transfer information to the General Ledger, Inventory Control, and General Subsidiary applications.
Accounts Payable can support either twelve or thirteen financial periods per fiscal year. The fiscal year may be synchronized with or independent of the calendar year. Other applications may coincide with the Accounts Payable accounting period, or may be ahead of or behind that used by Accounts Payable. Transaction entry functions allow the user to specify the month and year to which a transaction is posted.
The Close Month function within Accounts Payable deletes historical data older than the number of months of history you choose to keep and prepares the files for the next accounting month.
Other application features include:
- Vendor Type
- Check Processing
- Cash Flow
- Historical Data
- 1099 Information
- Freight Options