ACCOUNT PAYABLE MODULE

Accounts payable is money owed by a business to its suppliers shown as a liability on a company's balance sheet.

Is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents.

An accounts payable is recorded in the Account Payable sub-ledger at the time an invoice is vouched for payment. Vouchered, or vouched, means that an invoice is approved for payment and has been recorded in the General Ledger or AP subledger as an outstanding, or open, liability because it has not been paid. Payables are often categorized as Trade Payables, payables for the purchase of physical goods that are recorded in Inventory, and Expense Payables, payables for the purchase of goods or services that are expensed. Common examples of Expense Payables are advertising, travel, entertainment, office supplies and utilities. A/P is a form of credit that suppliers offer to their customers by allowing them to pay for a product or service after it has already been received. Suppliers offer various payment terms for an invoice. Payment terms may include the offer of a cash discount for paying an invoice within a defined number of days. For example, 2%, Net 30 terms mean that the payer will deduct 2% from the invoice if payment is made within 30 days. If the payment is made on Day 31 then the full amount is paid.

Features Overview

Some of the Features that are gonna blow your mind off

ITEMS SPECIFACATION

Vendor Profile

Vendor Profile.

Group Payables Accounts by type

Group Payables Accounts by type.

Import receiving data

Import receiving data.

Import expense vouchers from other modules

Import expense vouchers from other modules.

Batch entry of supplier bills

Batch entry of supplier bills.

Purchase Journal Vouchers

Purchase Journal Vouchers.

Direct entry

Direct entry.

Wizard based for imported transactions

Wizard based for imported transactions.

Post adjustments

Post adjustments.

Reverse liability

Reverse liability.

Transfer transaction to other account

Transfer transaction to other account.

Cross ledger posting to Receivables

Cross ledger posting to Receivables.

Expenses analysis

Expenses analysis.

User defined ageing periods

User defined ageing periods.

Part/full payments

Part/full payments.

Manual cheques entry or Cheque printing

Manual cheques entry or Cheque printing.

Release payment & print voucher

Release payment & print voucher.

Reverse payment / Transaction

Reverse payment / Transaction.

Cancel cheque

Cancel cheque.

Vendor master link with materials

Vendor master link with materials.

Settle/Undo transactions

Settle/Undo transactions.

Dispute transactions / resolve disputes

Dispute transactions / resolve disputes.

Deductions

Deductions.

Tax deduction at source

Tax deduction at source.

Track VAT paid

Track VAT paid.

Automatic General Ledger journal

Automatic General Ledger journal.

Post foreign exchange gain/loss transaction

Post foreign exchange gain/loss transaction.

SYSTEM REPORTS

Transaction Journal

Transaction Journal.

Payment Voucher

Payment Voucher.

Payment Authorization Voucher

Payment Authorization Voucher.

Cheques printing with payment stub / counterfoil

Cheques printing with payment stub / counterfoil.

Statement of Accounts / Invoices

Statement of Accounts / Invoices.

Ageing Summary / Detail

Ageing Summary / Detail.

Creditors Ledger

Creditors Ledger.

Prepaid / Advanced Ledger

Prepaid / Advanced Ledger.

Tax Deductions at Source

Tax Deductions at Source.

VAT Ledger

VAT Ledger.

Tax Deductions at Source

Tax Deductions at Source.

Summary / Detailed Expense schedule by period per vendor account

Summary / Detailed Expense schedule by period per vendor account.

Daily expenses report / Cash out-flow analysis

Daily expenses report / Cash out-flow analysis.

Bank reconciliation

Import cheques from Receivables, Payables & General Ledger

Import cheques from Receivables, Payables & General Ledger.

Reconcile cheques issued/received

Reconcile cheques issued/received.

Reconcile transfers

Reconcile transfers.

Post other bank charges & credits

Post other bank charges & credits.

Journal to General Ledger

Journal to General Ledger.

SYSTEM REPORTS

Transaction Journal

Transaction Journal.

Cheque Register with status

Cheque Register with status.

Reconciliation Statement

Reconciliation Statement.

General Ledger Transfer Journal

General Ledger Transfer Journal.

General Cashiering

Cash drop from outlets & front office

Cash drop from outlets & front office.

Cashier overage/shortage

Cashier overage/shortage.

Petty cash payments / receipts

Petty cash payments / receipts.

Cash payment to vendors

Cash payment to vendors.

Cash receipt from debtors

Cash receipt from debtors.

Banking

Banking.

Journal to General Ledger

Journal to General Ledger.

Interface with Receivables & Payables

Interface with Receivables & Payables.

SYSTEM REPORTS

Cashier’s Transaction Scroll

Cashier’s Transaction Scroll.

Cashier’s daily transaction book

Cashier’s daily transaction book.

General Ledger Interface Postings

General Ledger Interface Postings.

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