Accounts Payable

This module has built in tools to automate cost allocation and to make voucher input easy and fast. Similar to the payroll, the emphasis is to make it easy to accurately charge expenses to the appropriate grant or contract and expedite the allocation of costs for expenses that routinely are cost shared over many grants. It is an accrual system that reflects each voucher as an expense as soon as it is entered but gives fiscal control to actually deciding when to make vendor payments.

Payables can be aged or selectively paid by a range of criteria such as due date, vendor, voucher range, date range, and others for tight fiscal control. The reporting is complete and robust. System security makes it easy to separate tasks in the payables department so that staff only have access to those functions for which they are authorized. The system is linked to the purchasing system so that open purchase orders are updated when vouchers are entered. The system produces checks, registers, and complete historical records. You can also process vouchers in overlapping accounting periods.