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Accounts Payable System Specifications

Invoice Entry is used to enter Invoices that are not automatically passed from the Inventory System: Batch Nos. are automatically assigned. Manual entry of batch total assures that all Invoices were entered. Batches are posted manually after verified on the Invoice Entry Edit Report. Discount and Due Date are automatically calculated based upon Vendor parameters. A maximum of 99 payments can be entered for each Invoice. Each payment has its own Due Date, Gross and Discount entered by the user. General Ledger (G/L) Distribution is automatically calculated from either a single G/L No. per Vendor, or from one or more G/L Distribution Formats per Vendor; the G/L Formats can have multiple G/L Nos. with amounts and/or percentages. G/L Distribution can be changed manually during Invoice Entry.

The Accounts Payable System allows for separation by Invoice Type, which could be Inventory, Expenses, or your choice. This allows separate personnel to handle different types of Vendors. It can be optionally used for Invoice Entry, printing Payment Selection Report, and printing Checks or sending EFT's. Payment Selection Report is printed prior to Printing Checks or Sending EFT's: Selected by Bank Code, Due Date, and by Check or EFT. Vendor Totals. If negative, no checks are printed. Can include only Invoices to be paid, to be paid and Held, or all non paid Invoices.

Payment Changes can be displayed from information on the Payment Selection Report, or selected from a list of Vendor's Invoices. Changes can be: Due Date, Pay Code, Discount, P/O No., Bank Code, Payment Type, 1099 Amount, and payment by Check or EFT. Removal of an Invoice or change to a different Vendor; this will send offsetting and new entries to General Ledger. Adding or changing Multiple Payments.

Checks skipped prior to printing the first Check can be voided and used later for Manual Checks. A parameter allows for a maximum no. of voids without an override to prevent accidentally entering the wrong next Check No. Checks are normally printed on a daily or scheduled run by: One Check per Vendor on Check Date with all Invoices up to a Due Date entered. This is the traditional method of printing Checks. One Check per Vendor per Due Date. Could create multiple Checks per Vendor that can be held and mailed on their respective Due Dates. One Check per Vendor on the earliest Due Date of Invoices for that Vendor. Allows holding of a Check until the first Due Date, but includes all Invoices for the Vendor on one Check.

Manual Checks are those that cannot wait until the next scheduled Check printing. They can: Pay one or more Invoices selected from all the non-paid Invoices for a Vendor. Be written outside the Accounts Payable System and entered later. Manual Check No. can use voided Check Nos. from Check printing run, or be a separate Check No. series. Be printed interactively as a Single Check for a Vendor. This works particularly well for Checks on a non-continuous form for a laser or ink jet printer.

Vendors with Zero Balances for payment can be: Printed on a Voided Check. Marked as Paid on a zero check without assigning a Check No. This can be done as part of a scheduled Check print or a Manual Check. Saved until Vendor has debit balance.

Check Format can be: Check Stub attached; to Check. If more Invoices are paid than fit on a Check Stub, all Checks except last one for a Vendor are voided, or the remaining Invoices are printed on a Remittance Advice. No Check Stub attached. All Invoices are printed on a Remittance Advice.

Check/EFT Register: Can be printed by Bank Code, by From/To Date, and by Check, EFT, or both. Shows each Check/EFT with totals by payment Batch and Check Date. If the Check/EFT Register is printed after a Check is Voided or Canceled, notes the Voided or Canceled Check/EFT. If the Check is canceled on a date other than Check Date, includes the Canceled Check/EFT on the Check/EFT Register for the Canceled Date. Includes totals of Voided or Canceled Check on the original payment Batch No.

The Remittance Advice can be: Printed for all Checks that have more Invoices than can print on a single Check Stub. Remittance Advices would have to be matched to their respective Checks for mailing to the Vendor. Printed for all Checks. The Check would not include a Check Stub. Remittance Advices would have to be matched to their respective Checks for mailing to the Vendor. Printed for all Checks for a file copy; Checks would include the Check Stub and be single part. The Remittance Advice would be the file copy for the Check. Printed for all EFT's. Manually printed or reprinted for any and all Checks and EFT's.

Vendor Inquiry: Displays Invoices paid and not paid including G/L Distribution. Shows the Invoices that were on a Check/EFT. Includes Vendor History with Pay, Discount, Invoice Totals plus no. of Checks and Invoices for each accounting period. Saves history for Invoices, Checks and Vendor for up to 99 months.

Cash Requirements Inquiry: Displays the net amount due on each pay day and the cumulative net amount up to each pay day. Allows selection of particular days of the week as pay days. Displays Invoices due by pay day.

General Ledger Distribution Inquiry: Displays all G/L Transactions by G/L No. Can show G/L Distribution for each Invoice.

Saves history for up to 99 months.

Correction of Invoices can be: Deleting an Invoice in Invoice Entry that has not been posted to Accounts Payable. Removing an Invoice that has been posted to A/P but not paid, even if the Distribution has been transferred to the G/L. Offsetting entries to A/P and G/L Distribution are added even if the Invoice is removed in another period. Changing an Invoice to a different Vendor. Same conditions as Removing Invoices. New entries for A/P and G/L Distribution for the new Vendor are added as well as offsetting entries for the old Vendor.

Voided or Canceled Checks/EFT's: Voids are done if Void Date is the same as Check/EFT Date. Cancels are done if Cancel Date is after Check/EFT Date. This is normally used when Check Date is in a period that is closed. Offsetting entries are added to keep the A/P in balance for both periods. Invoices on Voided or Canceled Checks are ready to be paid immediately.

As an Accounts Payable System option, Invoices can be flagged as not received when entered;. Later, the receipt date can be automatically captured from the Inventory System or manually entered. In this mode, Invoices are not paid until receipt date is entered. Reports are printed by the User from Options Screens that allow selection of report criteria including From/To Dates, Company, Invoice Type, etc.. Reports include: Invoice Entry Edit List and Invoice Post Report insures the accuracy of the Invoices entered and an audit trail for all Invoices entered into the Accounts Payable. Includes the G/L Distribution for each Invoice. G/L Distribution Report shows all G/L Expense Distribution for Invoices by Company and G/L No. Can be printed by from/to G/L No. Removed Invoice Report has all Invoices that were removed. Open Payables Report by Company, by Bank Code, or by Vendor; summary or detail. Cash Requirements Report by Company; by Check, EFT, or both, by Invoice, Vendor, Bank Code, or Company. Select up to 6 dates manually, by no. of days, or days of the week. Paid by Vendor Report by Company; by Invoice, Vendor, Bank Code, or Company. Daily Balance Report includes all batches of Vendor Invoice Reconciliation and Vendor Charges from OLS Inventory System,, and all batches of Invoice Entry and Payments by Transaction Date; all Removed Invoices, Invoices changed to another Vendor, and Voided and Canceled Checks/EFT's, are included with the effective dates. This report ensures that all entries into the Accounts Payable System are balanced and virtually eliminates a manual ledger for balancing. 1099's An Invoice can be completely or partially 1099 reportable. If a Vendor is coded as 1099 reportable, the entire Invoice Amount is considered 1099 reportable unless overridden. 1099 Amount per Invoice can be changed at any time, including Invoices that have been posted and paid. The 1099 Invoice Report can be run for a calendar year to verify that 1099 information is correct before, 1099's are printed.