Skillful cash flow management is critical to your company’s health. The VELOCITY Software Accounts Payable application helps you carry out this function with ease and accuracy.
You’ll be in complete control of payables tracking, accounting, and management of the accounts payable and check writing functions. Reduce expenses and save time with computer-generated checks, manual checks, and reversed checks — regardless of the size of your company.
VELOCITY Accounts Payable offers complete control with ease and flexibility
- You can easily handle invoices with the ability to enter and process them at any time during the month. Data entry is simplified through quick access to information about vendors, terms, and other codes. Vendor’s standard terms and discounts are automatically calculated, but you can override for a single invoice if you wish.
- Check printing is easy and error-free. You’ll be able to line up your checks in the printer by using a test pattern, and voided checks are accounted for on the check register.
- Easily handle handwritten checks, check reversals, and manually voided checks. You can pay new or existing invoices manually and make partial payments on existing invoices.
You’ll appreciate the flexibility you’ll get from multiple bank accounts. You can establish multiple company divisions or departments, and each unit can have its own checks and bank account. Each can operate with common or separate vendors.
- Accounts Payable allows access to multiple accounting periods at the same time; no more month-end “freeze”! Your business will be able to continue as usual during the month-end closing process.
- You’ll have quick, easy reconciliation and balancing when integrated with Bank Reconciliation. You can also interface with VELOCITY Accounts Receivable for cash deposits and with Payroll for payroll check disbursements. This integration helps speed and simplify bank account reconciliation, even when you’re using multiple accounts.
- Save time and effort with complete on-line vendor information. Easily access the current status of purchases, payments, discounts, open invoices, purchase orders, payment detail history, etc.
- You’ll have flexibility with your customer, vendor, and employee IDs as well as your GL account numbers. Alphanumeric entries are supported in all “masked” fields.
- Save time with optional batched entry and processing of invoice entries and manual checks.
- Given an invoice number, you can retrieve a vendor. Vendors may also be looked up by requisition or purchase order number.