Accounts Payable
Included in the Core System
WHAT IT DOES FOR YOU
The AccuFund Accounts Payable component
provides vendor invoice management and check
writing functions. The module supports multiple
checking accounts, 1099 information, and user
definable laser check stock including full check
production. Invoices payable are tracked for each
checking account, allowing the user to forecast cash
requirements.
The Accounts Payable component's use of standard
Windows®- functionality and a single screen interface
make it easy for the users to accomplish their tasks.
The component may be set up to post the Accounts
Payable offset in each fund, and will automatically
create the Due To/Due From transactions.
A variety of invoice reports are available for managing your payables, each of which may be customized for an organization's specific needs through the Reports/Forms Designer. A vendor's history may be viewed from the vendor record in the organization file and an entire history of payments, voids, etc. are tracked for each invoice.
HOW IT WORKS
Invoices may be entered as received, with the system
tracking due dates for cash management and check
processing. All AccuFund components provide direct
look up of required fields including vendors and
account numbers. With proper security a user may
add vendors and GL account numbers on the fly.
Each invoice may be distributed to multiple accounts. Invoices or parts of invoices may be distributed to accounts using stored percentage distribution tables. The system will check for duplicate invoice numbers and warn of their existence.
OTHER FEATURES
AccuFund includes a number of features to make the
Accounts Payable Clerk's life easier.
• Duplicate invoice entry is checked at time of entry
and a warning message displayed if possible duplicate.
• 1099 information is tracked for each invoice
including how much of the invoice is to be included
on the 1099.
• A vendor may be set to automatically pay each invoice on a separate check, or just an individual invoice
may be marked to pay separately.
• It is easy to do a partial payment on an invoice, just
mark it for payment and indicate how much of it is to be
paid. The invoice continues to be visible in the open
invoices window but with a "P" to indicate that it has been
partially paid
• The Organization file can track multiple addresses for a
vendor. For the Accounts Payable component, it tracks a
primary address and a "Pay To" address for vendors that
want payments to go to a corporate office or bank lock box.
• Recurring invoices may be stored and selected for
processing based on reference and type fields, giving the
user options when selecting for processing
• It is easy to record manual checks or print
"Quick Checks" through the Check Register
component
COMPONENT INTEGRATION
The Accounts Payable component is integrated
with the following AccuFund components:
• General Ledger - All postings made
immediately to the General Ledger, no waiting
for reporting.
• Purchasing - The Billing system is directly linked to
the Purchasing system. Only enter accounting information
once. As items are received, the "bills" are created for the
user.
• Check Register - All information about a checking
account is stored in the register. Posting Accounts Payable
check batches automatically updates the Check Register.
• Report/Forms Designer - all of the Accounts
Payable reports may be modified for an organization's
specific requirements.
COMPONENT AVAILABILITY
The Accounts Payable component is only available as part
of the AccuFund Accounting Suite. A related product, the
Custodial Checking system for responsible trustee
management is available as a stand-alone system.
STANDARD TEMPLATES PROVIDED
AccuFund provides a set of default reports with the
Accounts Payable component. These reports and
forms may be modified or added to through the
Reports/Forms Designer. The default reports
include:
• Laser check with two stubs
• Preliminary check register
• Check register short
• Check register detail
• Check history
• Invoice status
• Invoice aging (user definable periods)
• Vendor summary
• Vendor invoice history
