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Accounts Payable

The Accounts Payable module is designed to process vendor invoices either as received Purchaser Orders from the Purchase Order module or as invoices entered directly into the Accounts Payable module. It is an open item system of invoice maintenance and payment, including complete monthly recurring payment processing. Invoices may be paid and reconciled using either automated cheque writing, or manual cheque writing. Either method then supports a complete cheque reconciliation function. 

There are many reports and/or screen presentations available to the accounting office for cash planning, age analysis, vendor reconciliation and transaction analysis. This module is fully integrated with the General Ledger, Purchasing and Inventory Control modules, and yet is capable of being implemented as a stand alone module. Both stock and non-stock items can be processed, with complete flexibility to override all default costs, extensions and account distribution codes.

System Features:

Capability to enter and process past months transactions as accruals
User entered and automatic distribution of up to 99 different costs to multiple G/L accounts and project codes
Automatic pro-ration of the burden costs of taxes, duty and freight to all invoice line items and item landed average burden cost
Automatic calculation of discounts and due dates based on pre-set vendor terms with optional override at the time of invoice processing
Complete cross foot and batch balancing capability
On-line inquiry to individual invoices, vendors, transaction history or cash planning requirements
Preparation of invoice register, cheque register, purchase and disbursement journals and recurring invoice register for a complete accounting audit trail
Cash requirements reporting showing invoices due in the current period plus the next three periods (based on a user period definition in days) as well as hold back disputed total presentations
Aging analysis by invoice date or net due date, whenever report is required during the month
Reports and inquiries available as either hard copy or terminal output or both
Vendor Purchase and Payment History, by Month-to-Date, Year-to-Date and Last-Year
Optionally by Purchase Branch and Product Class for each of the past 12/13 periods months
Prompt Pay discounts earned or discounts lost calculation 
Provisions for invoice hold back processing and release
Partial payment designation and processing
Processing of multiple vendors to a single cheque
Optional hold of all invoices for one vendor or specific invoices
Prompt pay discount override for late payments
User determined paid invoice retention cycle
Optional operator entry of transactions to cheque reconciliation system to produce a complete bank statement of each bank account
Multiple bank and payable account designations
Cancellation of either manual or automatic cheques will automatically reinstate the invoices and reverse all necessary General Ledger postings
Multiple and independent client processing
User defined chart of accounts structure
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