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Accounts Payable
Cash flow, cash crunch, cash required, cash usage - the value of an Accounts Payable system is its ability to accurately reflect and assist in the corporate cash management. GAAP excels at this task with its up-to-the-minute reporting of the General Ledger, vendor, and payable status. Multi-payment, recurring payment, discount and multi-company expense vouchers are quickly and efficiently posted and scheduled for processing. The Accounts Payable module handles the processing and payment of all vendor invoices. The capabilities of the AP module include cash or accrual basis accounting, multiple trade accounts, account current, tax and state or agent fee payables,
- User-defined Payment Terms for automatic calculation of payment due dates and discount date and amount.
- Global vendor access by name and/or number with partial name searches at any time, allow quick access to any vendor for posting and audit trail reports.
- Handles prepaid vendor invoices, manual checks (with unlimited G/L account distribution) and void checks.
- Express Checks allow a voucher to be entered and immediately expensed to the Ledger, updating and cross referencing postings to all affected vendor, purchase order, invoice, subsidiary ledger, and Job Cost records, and printing the check with disbursement offset tracking to the G/L . . . in one smooth step . . . an extreme time saver.
- Vouchers (debit or credit balance) may be distributed to unlimited G/L accounts and scheduled for unlimited future payments. Vendor invoice tracking stops accidental duplicate entries and payments.
- Each voucher may be accepted as either a future or immediate expense to the Ledger (Cash or Accrual basis).
- Aged payable Trial Balance may be produced as of any given accounting date, current and past.
- System generated checks may be issued at any time for specified due dates, vendors and/or vouchers.
- On-demand access (display or print) to Vendor summary invoicing and detail transaction history.
- 1099 Production is automatically performed on standard 1099 forms along with optional summary 1099 reports.
- Check registers and Cash Disbursement Journals for any given bank, company, and specified periods of time.
- User-defined check printing formats GAAP comes with a program generator which allows you to design your own unique check print formats - unlimited number of bank codes and check formats. GAAP does come with a built-in default A/P check format with standard stub information. These Standard check forms may be ordered through almost any bank if you choose the default formats.
- Check printing and reprinting is complete with alignment routine and may be restarted at any point in the event of printer jam, wrong forms, etc. - no need to void checks if they just did not print properly.
- Automatic or manual bank reconciliation function tracks checks by both preprinted MICR and system check number. Registers may be produced for any range of dates and selected bank statement dates.
- Automatic interface to the General Ledger Purchase Orders (including inventory cost variance posting), Subsidiary Ledger(s), and Job Cost modules of GAAP with special attention to balancing Job Cost WIP accounts.
- Cash Usage Reporting produces a 14-column spread sheet showing cash flow by period for each expense category - you need supply only the report start date and the number of days in the “period,” i.e. weekly, bi-weekly, monthly, etc. - GAAP does the rest.On-demand access history.
