Features:

Benefits:

·     Maintains an extensive vendor information file including terms, payment history and information for creating 1099’s

·     Vendor information, history and purchasing requirements can be retrieved easily and quickly to speed invoice processing, calculate discounts and generate necessary reports.

·     Multiple Currencies are handled.

·     Removes limitation when dealing with a global economy.

·     Permits multiple general ledger distributions per invoice.

·     Unnecessary journal entries are eliminated.

·     Calculates vendor terms automatically.

·     Allows you to take advantage of vendor prompt payment discounts.

·     Prints checks automatically.

·     Check preparation is fast, accurate and includes detailed information on invoices paid.

·     Generates cash requirements reports and aging of cash requirements.

·     Allow accurate forecasting of cash needs for effective cash management.

·     Allows payment from multiple bank accounts.

·     Permits different types of expenses to be paid from different bank accounts.

·     Recurring payables may be entered once and then posted each period.

·     Increases accuracy and prevents duplicate or missed payments.

·     Allows various on-line open item inquiry and report options.

·     Vendor and open invoice status and reports are available on demand.

·     Automatic bank account reconciliation. Options include listing of checks outstanding, cleared or voided.

·     Improves efficiency and accuracy of bank reconciliation’s.

·     The system handles all accounts payable receipt and invoice payment functions automatically.  If interfaced with eMIS Purchase Order Management System, the distribution will be automatically set up for any invoice that has a “pro forma” record created during receiving.

·     Greatly speeds up invoice entry, and allows for automatic variance reporting between invoiced and received quantities and expected and actual cost.

·     Offers manual, direct and system checks and void check cycles.  The void check cycle automatically sets up invoices for payments.

·     Handles handwritten checks paying invoices which either have or have not been previously set up in accounts payable.

·     Permits and tracks partial payments.

·     Provides flexibility for handling unusual situations.

·     Offers access to multiple fiscal periods.

·     Late or early arriving invoices can be applied to prior or future fiscal periods.

·     Generates all necessary documentation for extensive audit trails.  

·     The cost of outside year-end audits can be substantially reduced.