The Accounts Payable application makes certain that all your transactions are accurately distributed to general ledger accounts, job cost, subcontract, check reconciliation, and vendor history files. You can easily view current amounts due and future amounts owed at any time. Eliminates duplicate and over-payments to vendors Improves cash flow Enhances clerical productivity Entries and Distributions Data can be entered into Accounts Payable from vendor invoices, credit memos, and purchase orders. Entered invoices may be fully or partially paid. All entered data is accurately distributed to the appropriate accounts.
Entry is selected as real-time posting, or batch control with batch update.
To enhance the control of subcontractor payments, the subcontract invoice entry prevents entering billings in excess of contract balance and automatically distributes costs to the correct job and general ledger accounts. This form can be completed by the subcontractor and returned instead of an invoice. The Payment Advise Form produced with the subcontractors check indicates the amount being paid and the amount being retained against each distribution of their contract. It can act as a Lien Waiver to be signed and returned by the subcontractor. The Accounts Payable System maintains a history of all subcontract transactions.