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The Accounts Payable module does the following:
Information is stored for vendors and vendor ship-from locations. Files are kept for vendor types, payment terms, vendor purchase and payment notes, shipping instructions and cheque history.
Contact name, payment terms, payment notes, year-to-date purchases, last purchase date, last payment date and a default G/L account are all kept by vendor.
Invoice entry lets you enter invoices, credit memos and manual cheques, which can then be disbursed to multiple G/L accounts, multiple jobs and multiple assets (if applicable). The system calculates due dates and payment discounts as well as holdbacks (if required) and handles temporary vendors and multiple currencies.
Unpaid invoices can be selected for payment by due date or by invoice number. The system accommodates partial payments and lets you put an invoice on hold so that it cannot be selected for payment.
You can print cheques along with a cheque register. All payment information is recorded for you to access through inquiries and reports. The bank reconciliation feature lets you reconcile a range of outstanding cheques to generate an outstanding cheque list, which is then used to balance cash. You can also void a cheque reinstating the invoices and reversing the payment journal entry.
A Vendor Inquiry shows all outstanding transactions for a vendor and lets you update any invoices due date and payment status. The Vendor Cheque Inquiry lets you drill down into the invoices paid by a particular cheque and then into invoice details.
Management reports include an Aged Payables Report (which shows your position on a vendor’s aged receivables). This report lets you backdate, so you don’t have to close off one month before starting the next. A Vendor Payment History shows all paid invoices over a particular date range and shows the amount paid, cheque number and days taken to pay.
This module integrates with Purchasing, General Ledger, Job Costing and Fixed Assets.
"Accounts Payable" is part of the AIMS (Accounting Information and Management System) line of products, developed by Western Canadian Software.