Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make, then create payments for the invoices you want to pay. The system can generate payments for all invoices due, those for a particular supplier or only for specific invoices. If a supplier calls you to discuss an invoice, you will have complete information at your fingertips and that history can be kept indefinitely.

Accounts Payable allows you to update both purchase orders in Purchase Management as well as actual job and Project costs. Adjustments are created if the purchase price does not match the invoiced price. With Accounts Payable, you will know how much you owe and when it is due.

Invoices, Debit Memos, Payments - Record and post all payables instruments easily, including supplier or vendor vouchers and invoices, debit memos, automated check runs, and manual payments.

Recurring Entries - Create standard accounts payable invoices that recur on set dates

Payment Instruments - Track the different types of credit instruments such as Promissory Notes and post-dated checks and their corresponding status, from initial generation or receipt through to clearance/settlement. Track the movements of the payment instruments and generate status change updates within the Accounts Payable and Receivable applications, these changes can be reflected in the General Ledger to properly record to the financial status of the asset or liability. You can track how your customer credit is maintained through the life of the payment instrument reflecting the available credit based on the status and final settlement of the payment instrument.

By using this functionality, you can be assured that complex, settlement-related taxes are correctly handled when payment is made via payment instruments.

AP Terms and Conditions - Epicor supports all of the most common business practice terms and conditions within Accounts Payable and Receivable. This feature also affords great flexibility for the definition of creative receipt and payments terms within countries where this functionality is not necessarily demanded but may offer a competitive advantage.

Voided Numbers - You can track or reuse voided or unused numbers or transactions that are not committed to a database. You are then accountable for all numbers and have no sequence gaps.

Checks - Print checks for select payments, or create manual checks.

Online Cost Updates - Update jobs created in Job Management directly by material and subcontract costs entered through Accounts Payable.

Exchange Rate at Payment Entry - Purchases may be made in any currency and goods received in any currency with support for the entry of an exchange rate at the point of payment entry.

History - Keep accounts payable transactions and supplier history files indefinitely.

Supplier Tracker - Show online inquiries for open invoices, outstanding balances, and payment detail.

General Ledger Interface - Automatically create and post general ledger entries from accounts payable transactions.

Cash Management Interface - All payments are automatically available for bank statement reconciliation once posted.

Purchasing Variance - View variances between planned and actual purchase price to allow cost adjustments and analysis.

Three-Way Match - Match invoice, receipt, and purchase order online.

Electronic Funds Transfer (EFT) - Configure payment files for electronic submission to banks.