The value of the Accounts Payable module lies in its ability to accurately reflect and assist in the corporate cash management, including cash flow, cash crunch, cash required, and cash usage. ObviO EMS excels at this task with its up-to-the-minute reporting of the vendor payable, and project status. It quickly and efficiently posts and schedules for processing multi-payment, recurring payment, discount and multi-company expense vouchers. The Accounts Payable module handles the processing and payment of all vendor invoices. The capabilities of the AP module include cash or accrual basis accounting, multiple trade accounts, account current, tax and state or agent fee payables, commission processing, direct deposit processing, bank reconciliation, 1099 processing, and laser check printing.
Other cutting edge A/P features include:
- A/P allows user-defined payment terms for automatic calculation of payment due dates and discount date and amount.
- Global vendor access by name and/or number with partial name searches at any time, allow quick access to any vendor for posting and audit trail reports.
- Handles prepaid vendor invoices, manual checks (with unlimited project distribution) and void checks.
- The Express Checks feature lets users enter and immediately expense a voucher to the General Ledger, updating and cross referencing postings to all affected vendor, purchase order, invoice, subsidiary ledger, and Job Cost records, and printing the check with disbursement offset tracking to the G/L in one step. This feature is a tremendous time saver.
- Vouchers (debit or credit balance) can be distributed to unlimited projects and scheduled for unlimited future payments. Vendor invoice tracking prevents accidental duplicate entries and payments.
- A/P handles disbursements from and reconciliation of multiple company credit card accounts.
- Employee expense entry with customer-defined or government per-diem- defined ceilings on available meals, lodging, and incidental expenses.
- Aged payable Trial Balance can be produced as of any given accounting date, whether current or past.
- System-generated checks can be issued at any time for specified due dates, vendors, and/or vouchers.
- On-demand access (display or print) to vendor summary invoicing and detail transaction history.
- 1099 production is automatically preformed on standard 1099 forms along with optional summary 1099 reports.
- Check registers and Cash Disbursement Journals for any given bank, company, and specified periods of time.
- Both standard and user-defined check-printing formats. ObviO EMS includes a built-in default A/P check format with standard stub information; users can order these standard check forms through standard check suppliers when the default formats are chosen. The product also includes a program generator that allows users to design unique check print formats using an unlimited number of bank codes and check formats.
- Automatic or manual bank reconciliation function tracks checks by both preprinted MICR and system check number. Registers may be produced for any range of dates and selected bank statement dates.
- Automatic interface to the Purchasing Module (including inventory cost variance posting), Subsidiary Ledger(s), and Project Management modules of ObviO EMS with special attention to balancing Job Cost work in process (WIP) accounts.
- Cash Usage Reporting produces a 14-column spread sheet showing cash flow by period for each expense category - you need supply only the report start date and the number of days in the period, i.e. weekly, bi-weekly, monthly, etc. - ObviO EMS does the rest. On-demand access history.