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2/5/2012

PROMPT Business System

#PJLCP::

Accounts Payable

TIGHTER CONTROL OVER CASH FLOW

The Accounts Payable System is designed to give you flexibility in distribution of cost, while providing extensive management information.

The system allows you to enter invoices for last month while also entering and paying invoices for this month. When you close last month, you get a subsidiary report showing all open payables, as of the close of the month, to support the general ledger.

The integration with inventory and purchasing provides for automatic reconciliation of invoices and receiving reports.

The Accounts Payable System design gives you the information and flexibility you need in managing cash flow along with these benefits:

Each invoice can be distributed to multiple general ledger accounts.

Prevents entry of duplicate invoice numbers for a vendor and checks for existing invoice on credit and debit memos and manual checks.

Daily audit trail report to support data entry.
Cash requirements report shows items scheduled for payment and funds needed. An open payables report shows each invoice.
Invoice to be paid can be selected for payment by date, vendor or voucher with optional precheck register.
Prepares accounts payable checks, one per vendor with check stub identification of invoice(s) being paid.
Includes a 'Quick Pay' feature for online check writing.
Check registers created on demand -- you provide 'from' and 'to' dates.
Subsidiary report for complete picture of changes to AP.
Provides a vendor analysis report showing dollar volume and number of transactions.
Check reconciliation keeps track of manual, quick pay, batch and voided checks.

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