Enterprise Systems Inc

Accounts Payable

Accounts Payable
The Accounts Payable System encompasses the entire process of recording vendor invoices, analysis of outstanding invoices, check preparation and printing, and expense history by General Ledger account number and vendor. At the time the invoice is entered, it is fully distributed to the General Ledger and the details are stored for historical reference.

System Features

• Purchases are entered to Accounts Payable and distributed to General Ledger through one simple entry screen.

• The system automatically verifies whether the invoice currently being entered into the system has previously been entered or paid.

• Invoices can be distributed to multiple General Ledger periods in one run.

• General Ledger account numbers are validated at the time of entry to prevent incorrect entries.

• Cash discounts are automatically calculated based on the vendor’s terms and stored with the open invoice for maximum utilization of cash.

• An invoice can be entered as prepaid with its corresponding check number. General Ledger and vendor history reports are updated without producing a check on the system.

• The cash flow report allows the user to enter three dates that can be used to project cash requirements.

• Temporary or one-time vendors can be easily entered into the system at the time of invoice entry.

• Expense distribution history can be kept in detail for the entire year by vendor and General Ledger account number.

• Invoice and check history can be retrieved to the screen.

• Void check routine completely reverses all previous accounting entries.

Key Reports

PURCHASE JOURNAL – Lists all of the transactions entered at a given time either by the order they were entered, General Ledger account number, or vendor number. Each distribution line is printed in detail along with the description typed at the time of entry.

OPEN INVOICES BY DUE DATE – Based on the due date entered by the user, the report lists due date, gross, discount, and net amount due for each invoice by vendor.

CASH FLOW REPORT – Divides all outstanding invoices into four aging categories by due date. The net and discount amounts are printed by invoice within vendor with separate totals for open and held invoices. This report gives the user total flexibility in determining optimum usage of cash funds.

VENDOR ANALYSIS REPORT – Prints a concise format, by vendor, the current balance, purchases month- and year-to date, and total purchases last year.

CHECK REGISTER – Lists and totals any pre-paid checks that have been processed through the system as well as checks actually produced. Each invoice paid is listed in detail, with the gross amount, discount taken, and net amount paid. This report may be produced either for the checks currently being processed, or a month- or year-to-date basis.

HISTORY REPORT – Details all General Ledger distributions by vendor or General Ledger account number. This report allows selected vendors, General Ledger accounts, or invoice dates to be printed.