Accounts Payable

Keeping your company in good standing with your vendors is critical in ensuring the continued flow of raw materials, supplies and services into your company. Ensure there are no disruptions to this critical function, while effectively managing your cash flow, with the Macola ES Accounts Payable (A/P) package.

Important advantages of Accounts Payable are:

• Detailed vendor analysis to track vendor performance and pricing
• Reports such as Cash Requirements, Advise List and Aging Analysis
• Adapt to changing payables requirements
• Invoice history inquiry and review
• Print 1099s for vendors
• Advanced payment to vendors
• Optional authorization process in voucher entry
• Authorization process for payments
• Attach scanned documents to transactions
• Track vendor information

Like other Macola ES packages, A/P features an extensive notes system. An unlimited number of notes may be recorded about general A/P information (reference notes, payment information, etc.) and accessed from any vendor record. In addition, allows you to store information on all companies and individuals from whom you purchase materials, supplies and services.

The system also stores unlimited contact and address information as well as federal 1099 information and credit terms. You can also individually code vendors to reflect specific discounts. You can also track prospective vendors you are in the process of evaluating. It shares vendor account information with our Web-based front-office product, e-Synergy. Vendors and prospective vendors can be managed from the front-office (e-Synergy) or back-office (Macola ES).

Flexible vendor invoice tracking

A/P automatically calculates due dates, discount dates and discount amounts for all A/P transactions. And the invoice amount can be distributed to an unlimited number of G/L expense accounts. You also have the opportunity to enter vendor credit memos, cancellations, adjustments and prepaid expenses, giving you total control over your payables. When you need a summary of the new payables, simply print your transactions and edit as necessary. Then, when you’re ready, post the new transactions.

Streamlined recurring payments

In addition to normal payables activity, many companies need the option to add payables which are due on a recurring basis. By using the recurring voucher processing feature of A/P, you can turn these bills into easy-to-maintain business transactions.

Easy check payment and reconciliation

Easily and quickly reconcile your A/P checks against your company’s bank statement. You also have the option to print the A/P Check Reconciliation Report which shows paid and/or unpaid checks through any reconciliation date. You’ll find this feature is a real time-saver.

Select the invoices you wish to pay using defined criteria. Choose those that are due for payment or exclude certain invoices from the selection. The system will also identify invoices you can get discounts on for early payment. The Macola ES A/P module offers you comprehensive functionality for payments. It supports several forms of payment, such as manual checks, computer checks and electronic funds transfer.

Electronic Funds Transfer (EFT) and reconciliation

Using the E-Electronic Banking package, you can easily select the outstanding payables and turn them into electronic payments. Several formats, including the National ACH format used in the United States, are supported. If your bank supports electronic statements, you can use these to reconcile.

Interactive balance list

This functionality allows you to view your payables aging by vendor with full drill down capability to the individual transaction. This includes the ability to view scanned documents (i.e. invoices, POs) attached to the transaction.