Accounts Payable

 

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Accounting Software - Accounts Payable

The S2K  Accounts Payable module will support up to 99 companies. It has been designed to minimize the effort required to enter and distribute invoices to your Accounts Payable and general ledger system. The check payment procedure has been simplified so as to allow selection for payments by various parameters

Default ledger numbers for Accounts Payable, cash discounts, trade discounts and bank account can be entered for each company when installed in the system (they can be changed at any time). This relieves you from the repetitive entry of these numbers when using your system on a daily basis.

Each vendor can be assigned a default Accounts Payable ledger number and a default ledger distribution number (account to debit). This allows for multiple Accounts Payable control accounts in your general ledger if required, and in the majority of cases relieves the data entry clerk of the tedious job of allocating invoice amounts to various ledger accounts.

An operator entering an invoice can use the minimum number of key strokes possible and the system will calculate the invoice dates for discounted or net payment while distributing the accounts to the proper ledger account numbers. The system calculated dates and ledger distributions can be overridden by the operator if necessary during invoice entry. This method reduces the possibility of data entry errors.

Selection of vouchers for payment can be done via company, vendor, discount date, net due date, voucher number or a combination of the above parameters. All selections are made on a full- screen editor which speeds up the payment selection process. Unpaid voucher reports can be produced on the same basis to help facilitate the selection of vouchers to be paid.

Completely integrated, Accounts Payable has facilities for both manual and computer checks. Voucher entry is made simple by referencing the general ledger expense numbers stored in the vendor file. For multi-department expense allocations, our "auto distribution" feature provides unlimited predefined expense codes for automatic voucher distribution. And with flexible closing periods, on-demand purchase journals and cash disbursement journals can be printed or reprinted for any period.

Vendor discounts and due dates are automatically computed based on user-defined terms. Discounts can be accepted during the check writing procedure even if the invoice is past due. Selecting vouchers for check writing can be done by company, vendor, discount date or due date, creating a new level of versatility.

Recurring vouchers, automatic entry reversals, letter of credit processing and 1099 reporting complement this functional application.

Features
  • Multiple Companies Up to 99 companies can be supported by Accounts Payable.
    • Automatic Distribution File Specific general ledger numbers can be utilized to automatically distribute an invoice up to 100 different ledger accounts if desired. The distribution percentages range from 1/100 of one percent to 99 and 99/100 of one percent to any particular account.
    • Automatic Reversals A feature has been provided to automatically reverse any invoices, credit memos, debit memos and checks previously entered into permanent files. These reversals can be done for any accounting period in the current year.
    • Purchase Journal A purchase journal can be printed at any time during the month and can be printed summarized by general ledger number or vendor number.
    • Cash Disbursements Journal The cash disbursements journal can be printed at any time during the month and can be printed by bank, by check number sequence or it can be summarized by vendor.
    • Payment Status The payment status of any particular voucher can be placed on HOLD or all vouchers for any particular vendor can be placed on payment HOLD status.
    • Handwritten Checks The payment program allows the entry of handwritten checks for vouchers that are in open payables and not in open payables.
    • Payment Terms Payment terms allows you to specify the number of days from the invoice date in which the invoice would be payable on a net or discounted basis. The net or discounted date can also be assigned to a particular day of the month.
    • Cash Requirements Report The cash requirements report can be printed after payment selections have been made and vouchers can easily be added to or deleted from the selection.
    • Credit Check The system will prevent the issuance of a check to any vendor who had an overall negative amount due for all vouchers, credit memos, etc.
    • Check Alignment A unique check printing procedure allows for the printing of an unlimited amount of alignment checks before assigning the first check number to be used.
    • Check Reprinting In case of a forms jam, checks can be reprinted with newly assigned check numbers. These features insure the matching of computer check numbers with pre-printed check form numbers without having to void and re-enter check selection batches.
    • Inquiry Screens Inquiry screens are provided by company, vendor and voucher. Month-to-date and year-to-date totals of all pertinent amounts are shown for each company or vendor. Vendor voucher history is available during vendor inquiry.
    • Payment Selection Payment selection of vouchers can be done via company, vendor, discount date, net due date, voucher number or a combination of the above parameters.
    • Search Facilities Window Search facilities are provided throughout the system to speed up daily transaction processing.
    • Detailed History Detailed history of every voucher is available either through inquiry or when selecting vouchers for payment.
    • Entry Batch Totals Batch totals are provided for both invoice entry and cash payment selections on summary displays. Updates can be made to the permanent files with or without the printing of edit proof lists.
    • 1099 Register Vendors may be selected for the production of a register which can be used to assist in the completion of federally required 1099 forms.
    • Inter-Company Payables S2K  allows for the inter-company processing of Accounts Payable vouchers. The inter-company master file automatically generates the correct general ledger distribution account numbers for the companies responsible for payment of the vendor's invoice.
    • One Time Vendors Vendors can be entered as vouchers are being entered, with the minimal amount of information required to issue a check. A vendor code is assigned, and the information is maintained in the vendor master file for conversion to a standard vendor if required.
    • Multi-Currency Vendors can be assigned a currency code for payment of their vouchers. A currency code master file maintains the U.S. dollar equivalents for conversion from the foreign currency.

 

 


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