Accounts Payable

This module is also sometimes known as the Purchase Ledger. By designing this system to use a fully normalized database and interactive updating of account balance records we have made it immediate, real-time, up-to-date and effective.

This module supports invoices, credits and journals. Both standard products and uncoded items are allowed. Invoices and payments may be transferred electronically (EDI or BACS). Credit notes can be raised from invoices.

The invoice entry program has been optimized for speed of entry and automatic invoice approval. When the invoice value is expected - it matches an outstanding receipt - there is no need to key in invoice lines. Limits for controlling the matching process can be set: The system is data-driven. Small differences in prices (and freight charges, handling changes etc) will be prorated back to receipt lines when using actual or average costing. For standard costing these differences will remain as variance postings.

Approval for payment can be automatic - and can be controlled by vendor. Exception reports and review screens will identify unapproved invoices.

There are flexible definitions of the payment and payment schedules which can be defined by company (as a default), by vendor, or by invoice. Payment can be set to try to take advantage of early-settlement discounts (if you want to) and to avoid late-payment penalties: and payment scheduling can be manual or automatic. If you need to make manual payments you can record them. The payments processing subsystem is comprehensive and flexible.

Invoices from a variety of vendors are possible - including invoicing cooperatives, separate freight invoices and "head office" invoices. This flexibility will not slow up your normal processing, because the default situation is where the vendor supplies the goods and the invoice.

Account balances are maintained by period and by vendor. "Drill down" facilities will allow you to investigate a vendor's account to find the transactions which affected the balance, and get back to the originating transactions involved including purchase orders and receipts in the Purchase Order Processing module.

There are controllable interfaces to the General Ledger allowing you to post transactions immediately or in deferred or batch modes.