Accounts Payable

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Invoice, debit memo, credit memo, and electronic payment processing with unlimited general ledger distributions by fund, with optional default distributions by vendor. The accounts payable and cash accounts are automatically identified by fund
Total of 36 monthly accounting periods for reporting
Check registers printed by bank.
Automatic or manual error-proof check writing from common checking account for multiple funds with automatic signature and log options.
Use the same check form for accounts payable, payroll, RecTrac refunds, and liability remittances.
Automatic recurring open item creation
Built-in automatic distribution total versus invoice total proofing
Complete reversal routine for open items, electronic payments, and checks, all with automatic GL entry creation
Optional vendor invoice terms allow automatic due dates and discount dates
Payment process automatically takes discounts due and makes corresponding GL entries
Complete bank reconciliation procedures and reporting
Multiple standard reports including Invoice History Report, Open Item Report, Vendor Analysis Report, Vendor GL Distribution Report, and Vendor History Report
1099 printing with optional file generation for e-filing
Ability to enter electronic payments
The GL Interface Report creates a GL Batch for automatic GL posting
Each vendor record is linked to all invoices that have been billed by date

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