Accounts Payable Module

Instant Access to Vendor Information
Always have instant access to a vendor’s balance, open debit, available credit, and year-to-date and accumulated-to-date purchase totals while posting an invoice for the vendor.

Enhanced Vendor Maintenance Functions
YTD Purchase
Year-to-Date purchase information is calculated based on your company’s total purchases from a vendor within a user–defined year.

Vendor Ledger Card
Drill down information displays the details of the vendor’s balance, showing the invoices, prepayments, payments and invoice distribution.

One-Time Vendor Invoice Entry
The one-time vendor option provides a quick way to input information when processing an invoice from a one-time vendor without necessarily creating a vendor record.

Vendor Beginning Balance
A new vendor can be entered with a pre-existing balance.

Archive Deleted Vendors
Inactive vendors that have no outstanding balance can be deleted and archived. Archived vendor records can be reactivated at any time, eliminating the need to re-enter data.

Automatic Warning of Duplication of Accounts Payable Invoices
If an Accounts Payable invoice with the same invoice number has already been created for a given vendor, an alert appears preventing the creation of duplicate invoices. Invoice look-up is also available during invoice posting to determine whether the vendor’s invoice is paid or outstanding.

Automated Prepayment Features
With the prepayment invoice entry feature, you can post advance payment transactions even before you receive a vendor’s invoice. AccountMate automatically posts to prepayment accounts and handles the expense posting when the prepayment is applied to vendor invoices.

Recurring Invoices
Recurring AP invoice templates can be easily set up for rent, loan payments and other needs. Recurring invoices can be quickly generated without having to re-enter the data, and can be amended like other invoices.

Purchase Order Lookup
The ability to look up all purchase orders for a selected vendor while posting an invoice aids in matching a purchase order to an invoice.

Nonpaying Invoicing
Pay only a partial amount while entering an invoice, which is especially useful when a portion of an invoice might be paid directly by an employee.

Improved Link with Purchase Order Module
Accounts Payable invoices can be matched to specific purchase order line items, providing you with the ability to monitor which of your received items have been invoiced, and to quickly identify those items that have not yet been invoiced. In addition, this feature provides the ability to enter the actual invoice price for each unit of the item. The system then performs a comparison between the cost upon receipt (taken from the Purchase Order), and the invoiced cost of the goods. Any difference is reflected in a cost variance account. In the same way, non-physical charges (such as freight and service charges) that were recorded when the goods were received can also be matched with the corresponding accounts payable invoice.

1099 Payments
You can set up a default 1099 type for each vendor, and can override the 1099 type when entering invoices. AccountMate tracks 1099 payments and produces the appropriate 1099 forms. You can also specify the minimum cumulative amount of each type of 1099 payment within the year that will require you to issue a Form 1099- Misc for the vendor.

Credit Card Handling
Credit cards are a payment option when posting an Accounts Payable invoice. You can automatically transfer balances to a credit card company and assign transaction numbers to the balance transferred for better control and tracking. Journal entries are generated to reclassify the payable balance from the original vendor to the credit card company. AccountMate generates a voucher for the original vendor, but the check will be payable to the credit card company.

Invoice Payment Urgency Code
A payment urgency code can be created for each invoice, which can be used to prioritize invoice payments and check printing.

Mass Payment Application
Invoices can be run by due date, urgency, discount date, vendor or reference, automatically calculating default discount and payment amounts for each invoice. All the payments can be applied in an instant.

Built-in Multi-Currency Feature
When multi-currency is activated, a currency code can be assigned to each vendor, providing billing in the appropriate currency. Multi-Currency also computes the unrealized gains or losses for these transactions. Foreign currency accounts payable can be revalued to a specific currency revaluation date as currency rates fluctuate.

Record Wire Payments
Record wire payments through the Post Handwritten Check function. No check needs to be issued, and users can generate reports for this kind of payment.

Handwritten Checks
The Post Handwritten Check function is designed for recording checks that need to be issued outside of your regular check-printing cycle.

Check On-Hold Feature
The on-hold feature can print all checks at once, except for checks that have been flagged as not yet released. The total amount of held checks will be shown separately at the end of the aging report.

Record Canceled Checks
Reconcile bank accounts quickly by listing all un-canceled checks for a bank account. Match them against the current bank statement to easily identify which checks have cleared the bank.

Other Features

• Aging periods can be defined
• Finance charges can be recorded in the system
• A variety of reports (e.g., showing discounts, checks, vendors and 1099 payments) can be generated
• Invoices and checks posted prior to a specific date can be purged
• Purchase order numbers can be required when entering invoices