Accounts Payable is a flexible and complete financial system that enables you to obtain up-to-date information about cash flow requirements and vendor payments. The system handles everything from the time invoices arrive, through the writing and reconciling of returned checks or processing EFT’s, to General Ledger posting.

The Accounts Payable System goes beyond simply keying in an invoice and making a payment. The system helps control your cash flow, maximizes vendor discounting and provides complete audit trails to the General Ledger.

Comprehensive vendor information provides for efficient voucher entry and easy 1099 year-end processing. Vendor default information such as expense accounts, payment terms and payment codes streamline voucher entry. Currency conversions allow for processing of foreign currency invoices and optional tax fields handle amounts for“use” or other tax type. “One-
time” vendors can be processed and cleared without adding to the permanent database.

At Voucher Entry time, you are given multiple processing options including: Distributed Vouchers, Standard/Template Vouchers, Split or Recurring or Encumbered Vouchers. Import of vouchers through the Remote Voucher File handles electronic invoice submissions.

You can force discounts, review lost discount reports at a key stroke and even use the Discount Date as the Check date. An expense can be allocated to up to 100 GL accounts by percentage or amount. Process using either “standard accrual” or “cash basis” accounting to maintain the company’s books according to your expense-tracking needs.

Any vendor can be paid by computer check, manual check or electronic fund transfer (EFT). A Positive Pay File for submission to the bank enables “fraud prevention”.

The Cash Requirements and Aged Invoice Reports, standard parts of the system, allow you to set up user-defined periods and list the vouchers and amounts due for each period. The Paid Vouchers and Check History reports provide answers to how and when payments were made.

Para Research’s exclusive AP Reconciliation Report helps you reconcile your accounts payable to general ledger. This comprehensive history report includes all open vouchers in the period and the total balance in Accounts Payable.

Features Include:

• Electronic Fund Transfer (EFT) capability
• Fraud prevention via Positive Pay File
• Currency conversions compute foreign invoices
• Automatic import from Remote Voucher File
• Complete 1099 Reporting – miscellaneous, interest, retirement
• Distributed vouchers by multiple GL accounts
• Voucher templates by vendor or set of universal defaults
• Encumbered vouchers for GL budget comparison/authorization
• Checks/1099s to primary or secondary address
• General Ledger reconciliation report
• Flexible discounting capabilities
• Voucher and vendor query
• Ability to post to any period
• Optional monthly close