Account Payable (AP) module records company debts and liabilities that have been accrued but not paid and this debt gets listed as a current liability in the balance sheet.

 
 
AP module has four main purposes:
 
» Provide up-to-date creditors data to management.
» Ensure efficient and effective management of disbursements.
» Minimize unnecessary or premature expenditures.
» Review of supplier's history and its current transactions status.
 

The AP module controls and manages supplier accounts in an efficient and accurate manner to control cash disbursement promptly and in user defined payment schedule. AP shows the whole payables situation in up to the minute and in precise details as to whom and what is owed. You can pay suppliers at any time, in any currency. Appropriate transactions entered elsewhere in the system automatically update supplier accounts.

User could post credit invoices manually to a supplier's account or update from the Purchase Order module. Pay as many as invoices as you like with one cheque. In a user defined format generate aging, forecasting reports detailing the amounts owed.

Purchase Orders can create invoices in AP for received goods; Job Cost can apply payables data to specific work orders and functions; General Ledger can be updated with either detailed or summarized invoice or cheque data; and Bank Reconciliation can gather cheque from AP.

AP aging report is a good cash management tool that should be prepared periodically as it helps you plan the timing and amount of your cash requirement.

In essence, AP module provides complete, convenient payables management, resulting in more control of your business.

 
Key Features :
 
» Allows Partial Payments.
» Allows user selection of specific bills to be paid during cheque generation.
» Cheques can be voided after printing.
» Maintains detailed cheque register of both unprinted and printed cheques
» Credit invoices can be applied against future balances
» Full detail Supplier Account History and Unpaid Items report.
» Handles manual cheques
» Handles multiple cash accounts
» Individual bills can be expensed to any number of expense accounts
» Informs user when to pay bill based on supplier terms.
» Integration with job cost and purchase order modules allow automatic and efficient aggregation of payable expense transactions to the source documents
» Invoices can be flagged as on hold or for automatic disbursement
» Keeps track of recurring charges
» No limitations on creating account type, account classes or vendors.
» Pays invoices automatically on a user-defined basis
» Processes cheques on an individual or batch basis
» Provides an on-screen aging to help you plan future cash needs
» Provides great flexibility in managing payments for diverse customer situations and expense management requirements.
» Provides great flexibility in recording payables management activities.
» The amount of data you retain is limited only by the size of your hard drive
» Tracks which cheques were applied to which bills.
» Updates either detailed or summarized entries to General Ledger
 
FINANCIAL BUDGETING

ACCOUNTS RECEIVABLES

ACCOUNTS PAYBLE

ORDER MANAGEMENT

SALES MANAGEMENT

PURCHASE MANAGEMENT

INVENTORY MANAGEMENT

MRP

CRM

HRM

PAYROLL

FIXED ASSETS

POINT OF SALES

MRPII

 

 

 
Manage
» The AP module controls and manages supplier accounts in an efficient and accurate manner to control cash disbursement promptly and in user defined payment schedule.
 
Features
» Allows Partial Payments.
» Allows user selection of specific bills to be paid during cheque generation.
» Individual bills can be expensed to any number of expense accounts
» Full detail Supplier Account History and Unpaid Items report.
» No limitations on creating account type, account classes or vendors.
 
 
© PACT - Business Management Solution. 2008