Application Overview

The Accounts Payable (A/P) application ensures that all your transactions are accurately distributed into general ledger accounts, job cost, subcontract, equipment, check reconciliation, and vendor history files. You can easily view current amounts due, future amounts owed, and history at any time.

Accounts Payable Benefits

Entries and Distributions Tracking
Data can be entered into A/P from vendor invoices, credit memos, and purchase orders. Entered invoices may be either fully or partially paid. All entered data is then accurately distributed to the appropriate accounts and subledgers. A/P data can be entered with real-time posting or with batch control with batch update.

Enhanced Subcontract Accounting
To enhance the control of subcontractor payments, the subcontract invoice entry prevents entering billings in excess of the contract balance and automatically distributes costs to the correct job, job distribution, and general ledger accounts. The system automatically tracks the status of:

• Lien waivers and releases
• Signed contracts
• Insurance certificates
• Performance bonds
• Multiple joint check/payees
• Other user defined documents

Progress billings may be entered from a subcontractor invoice or from the Payment Request/Waiver of Lien Form produced by the system. Instead of an invoice, lien forms can be completed by the subcontractor and returned. The Payment Advise Form, produced with the subcontractors’ check, indicates the amount being paid and the amount being retained against each distribution of their contract. The Payment Advise Form can also act as a lien waiver to be signed and returned by the subcontractor.

The A/P System maintains a history of all subcontract transactions. with both detail and summary subcontract status inquiries and reports available. The Subcontract Status Report provides information to accurately control change orders, billings, back charges, payments, and retention amounts. Actual payments may be based on percentage complete, fixed dollar amount, or billable quantities. Quantity billings can be automatically generated based on approved installed quantities.

Accurate Management Reports
A/P management reports allow users to plan and control vendor payments. These reports list current amounts due as well as amounts due in 30, 60, 90, and 120 or more days. To help ensure that payments are made on time, the system prints the number of days until an invoice is due. Other management reports allow the selection of vendors due to be paid at any given time. Open payable reports may be printed by vendor, due date, or job.

Audits
Purchase Journals and Cash Disbursements Journals account for all invoice and payment activity. These journals also provide an audit trail to help analyze cash accounts and accounts payable control account. Easy-to-use check reconciliation reports can be printed, in addition to electronic check reconciliation.

Payment Management
To provide complete control, the system allows payments to be selected by vendor, job, due date, voucher and invoice. The system can also partially pay an invoice, as well as attach joint payees to an invoice, and a cash requirement report is produced for the items selected. Additional selections or changes can be made before checks are printed for the selected items. Checks can also be written to pay separately, by job, or pay for more than one job per check. A separate check can also be generated for each invoice for a particular vendor. Each item paid is listed on the check stub and when necessary, overflow stubs are printed. An option is even available to print the company name on checks for multiple entities or divisions that use a common check form. Payment controls allow the use of up to 99 halt payment codes, with full descriptions per invoice. Payment can also be linked to A/R payments to automate the "pay when paid" feature.

Tracking and History
To help monitor A/P processing, the system maintains a history of all transactions for each vendor. Historical information may be accessed by on-line inquiry and serves to prevent duplicate entry of invoices. History reports may be printed in journal date, job, vendor, check date, or check number sequence. The journal date sequence provides an open payables list, as of a prior date, for use in auditing general ledger balances.