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The Accounts Payable software gives you the ability to manage invoices and payments for many organizations, with the use of one bank account. Accounting tables defined by you automate many accounting processes, regardless of your preferred balance sheet (consolidated or segmented). This product also automates the entry and coding of all PO-related invoices. Integration with Ormed X B2B gives you real time communication with your vendors, allowing your invoices to be issued and reconciled electronically.

  • Accounts Payable - Manager - The Accounts payable gives you the ability to perform many functions. A summary of features broken into Vendor, Bank, Tax, and Global Setup features can be seen below:
    • Vendor
      • A single point of entry for vendor information used by both Accounts Payable and Materials Management
      • Easy, quick, and accurate vendor data entry and access.
      • Accounts Payable supports an unlimited number of vendors
      • Setup multiple addresses for a single vendor (e.g., order from, pay to, and return to addresses)
      • Identify vendors subject to 1099 reporting and their tax code
      • Produce 1099 reports without closing a financial year
      • “Inactive“ status allows you to specify vendor’s you use on a very infrequent basis.
      • Store vendor reference number for the facility
      • Maintain telephone, fax, and e-mail accounts
      • Enter vendor payment terms (including discounts) once to apply to all invoices
      • Make and access AP notes about the vendor
      • For discrepancies you can use the ”hold payment“ status
      • Override on an invoice basis
    • Bank
      • Enter expense or asset account charged and system will automatically create offsetting entry to AP
      • Payment automatically creates accounting entry to reduce the AP and the bank by the appropriate amounts
      • Unlimited number of account distributions
      • Bank account payment frequency used by system to automatically select invoices due for payment
      • Comprehensive check printing includes printing checks on blank paper
      • Easily setup EDI payment options
    • Tax
      • Have up to two separate tax rates
      • Set up a tax rebate calculation
      • Automatically calculate amount owing for self-assessed taxes
    • Global Setup
      • Enter default information to be used by system unless overridden for a particular transaction or posting
      • Optional update balance files at time of posting
      • Option to always take maximum discount
      • Option to provide 1099 reporting
      • Option to provide FIA reporting
  • Accounts Payable - Invoice Entry and Reconciliation allows you to:
    • Easily enter and automatically reconcile vendor invoices
    • Integrate with the GL using the common Chart of Accounts to eliminate coding errors
    • Process an infinite number of open invoices, open batches of invoices, and users
    • Relax knowing built-in controls ensure invoices are entered correctly and taxes are automatically verified and properly accounted for
    • Easily make adjustments before posting
    • Make manual interventions as necessary
    • Minimize cost of processing purchases
    • Maximize discounts realized
    • Easily generate accurate, up-to-date accounting records
    • Create three-way integration from Receiving to AP to Inventory Control
    • Quickly and easily perform audits
  • Accounts Payable - Payments allows you to:
    • Manage payments for multiple organizations and multiple funds using a single bank account
    • Manage how and when vendors and invoices are paid
    • Choose to maximize vendor discounts or manage cash outflow selectively
    • Maintain consolidated or independent balance sheets without inter-company accounts
    • Easily enter data to process cleared and cancelled cheques
    • Quickly access and, if desired, modify an extensive range of cash management information
    • Print cheques with all information, including signatures on cheques up to predetermined amounts
    • Use EDI for paperless payments
    • Automatically reinstate amounts outstanding when a cheque is cancelled
    • Effortlessly reprint payment postings and individual invoices and payments
    • Maximize discounts taken

Other Applications

The following applications are designed to work hand-in-hand with Accounts Payable:

"Accounts Payable" is part of the ORMED MIS line of products, developed by Ormed Information Systems.

Related Products

The following software product lines are also offered by Ormed Information Systems: