Accounts Payable with Check Writing

System Overview

The primary purpose of an Accounts Payable system is to track all dollars that are owed to vendors (or suppliers). The printing of checks and vendor 1099s, along with the coordination of current cash flow, is essential. The Infinity POWER Accounts Payable module addresses all of these basic payable needs as well as providing many advanced reporting and tracking capabilities. The check writing options provide the ability to write direct checks, perform EFT processing, make check runs based on currently due ”payables“ and record manually written checks after-the-fact.

Product Features

• 10 Character Vendor Number
(alpha/numeric)
• Unlimited number of Vendors
• Unlimited number Open Items
• Unlimited number of Transactions
• Allows Importing of Vendor Accounts
• Allows Importing of Vendor Transactions
• Handles Cash or Accrual Accounting Methods
• Handles 1099 Magnetic Media Reporting
• Allows Multi-Project and General Ledger Distribution of expenses for a single Vendor's Invoice
• Automatically Calculates and Tracks Vendor Retainage by Project (Job)
• Automatic Calculation of Discounts
• Allows Retainage Only Invoices
• Allows Inventory Receipts and Non-Project Expenses
• On-Line Update of Project Information at time of Data Entry
• Vendor Accessed by Number, Name or Special User-Definable Search Field
• Inventory Integration Provides On-Line Update of Receipts and Detailed Inventory Item Purchase History by Vendor
• Reports Sorted by Vendor Number, Name or Special User-Definable Search Field
• On-Line Vendor Inquiry (Shows Address/Contact Information, Factor and Insurance Information, Open Items and Aging for Both Future Due/Past Due)
• On-Line Inventory Item Inquiry (Shows Pricing, All Quantities, Costs)
• On-Line Add a Vendor, Inventory Item, and General Ledger Account
• Recurring Expense Posting allows Fixed Payments and/or Variable Expenses
• Allows Payment Directly to Vendor or their Factor (Collection Agency)
• Supports Unlimited number of Separate Checking Accounts
• Allows display of “Vendor Comments“ during transaction entry
• Add/Review Notes by Vendor
• Automatic General Ledger Budget Verification
• On-Line Voucher option Allows 50 General Ledger Allocations for each Transaction (Both Cash & Accrual)
• Batch Voucher Option allows 500 Allocations for each Transaction/Job related cost
• Write a Single Check Option
• Automatic Void a Check Option
• Record a Manually Written Check Option
• Pay Criteria allows Specific Due Dates, Batch Coding, Pay Now or Suspense Coding of Disputed Invoices
• Cash Requirements Analysis Reporting based on Outstanding Vendor Accounts
• Each Checking Account may have it's own Unique Check Form for each account
• Checks for Duplicate Invoice both in Voucher Entry and Batch Entry
• Date Sensitive Accounts Payable Aging Report
• Includes Date Paid and Check Number fields in open item file
• AP Aging Report allows Agings as of a Prior System Date to match against General Ledger Balance Sheet
• The option to Remove Paid Open Items can be done for all items as of a user specified date
• AP Aging Report has an option to print Aging with Grand Totals Only
• International Addresses included for all Vendor Files
• Tracks FAX Numbers and E-Mail Addresses by Vendor
• Check Reconciliation automatically updated when checks are written
• At least 5000 Open Items may be viewed in the Vendor Inquiry at a time
• General Ledger Account Inquiry during Accounts Payable processing
• Vendor Insurance Expiration warning during entry
• 5000 Invoices may be paid per check