Accounts Payable

You can track accounts payable by invoice number and relieve by invoice number. Transaction history stays maintained indefinitely.

Ageing

Ageing report has five ageing periods that move with the system date. It generates a statistical payment history you can use to quantify average payment time for each vendor and all vendors. Each vendor lists the last payment date and amount, and there is a “hanging debit” recap that shows vendors with unusual activity.

There are options to report open or all invoices, detail, summarized, balance, and zero. There is also a modified vendor master option for fraud detection. It shows activity for any vendor with a change made to the vendor sub master for any given time period.

Statements

You can send Statements to slow-paying customers, either printed or via email, since the statement writer can print or email supporting invoices. In addition, you can customize statements using Excel. Plus & Minus calculates finance charges using various formula options.

accounts payable

Invoice Item Offset

Invoice Item Offset lets you clear hanging debits into an income statement account or offset it against other customers or vendors.

Reverser

Use Reverser to delete or reverse check transactions. It also has the option to delete or reverse purchase transactions.

Year-End – Form 1099

At year-end, you can print or transmit magnetic files to the IRS. Supported forms include: 1099 Miscellaneous, 1099 Dividends, 1099 Interest, and 1098. Formats are updated yearly.

Recurring

The Recurring worksheet sets up future purchases for payment. They display in the check writer window when the transaction date is older than the cut-off date.

Quick Check Writer

Quick Check generates purchase and disbursement transactions for each check and has the same print/EFT features as the Check Writer. It can be used to generate spot checks or after-the-fact hand-written checks.

Check Writer

Check Writer presets payables to you in a worksheet, where you can click or drag invoices for payment. Groups of invoices can be selected based on age. It supports: preprinted, MICR, and EFT checks and allows you to review supporting PDF files and purchase orders before writing a check.