Accounts Payable
The
Accounts Payable module processes vendor invoices, payments,
and other transactions. It prints invoice, expense and aging
reports, and prints checks or creates files for electronic payment.
It is fully integrated with General Ledger, Job Cost and Purchasing.
Special features include:
- Sophisticated
interface with job cost accounting. Your accounting procedures
are embedded in the software to minimize keystrokes and maximize
automatic calculation of data. For example:
-
General ledger accounts may be assigned semi-automatically
or automatically, based on the vendor and the job/cost
category charged
- Overhead
and billing markups are calculated automatically
- For
subcontractors/consultants who are billed like employees,
user may enter hours and the system will determine the
hourly cost rate, the burdened cost rate, and the appropriate
billing rate
- Validation
checks keep you from charging invoices to projects for
which those charges are not allowed
- Employee
expense processing, that tracks the status of cash advances,
expense reports, payments, adjustments, and cash receipts
received from the employee
- Ability
to create invoices semi-automatically from purchase orders
- Automatic
creation of standard invoices for contracts such as real estate
leases and equipment maintenance
- Automatic
creation of intra-company journal entries when one cost center
makes purchases for another
- Automatic
deferred expense recognition for invoices such as annual insurance
premiums
- Automatic
distribution formulas for invoices that must be allocated
among multiple cost centers
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