Accounts Payable records purchases via vendor invoices and allows both manual payment and system generated checks. This system integrates with General Ledger, Job Cost, Inventory, Purchasing, and the Check Reconciliation system.

Accounts Payable, Clarion, Source Code, softvelocity

Accounts Payable system features include:

Establish permanent and one-time vendors Quick (demand) check Entry of pre-paid invoices Invoice detail distribution Check previewing and control using check candidate processing Check candidate selection by due date or vendor Void check processing Supports partial payments and manually paid checks General ledger posting preview Checks summarized by payee Supports future period processing Invoice distribution to multiple General Ledger Accounts Cash requirement forecast Vendor 1099 support Paid Invoice history sub-system

What is Accounts Payables?

Accounts payable is money owed by a business to its suppliers and shown on its Balance Sheet as a liability. An accounts payable is recorded in the Account Payable sub-ledger at the time an invoice is vouchered 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%,30 Net 31 terms mean that the payor 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. For More Information Please Visit : http://www.clariondevtools.com