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ACCOUNTS PAYABLE FUNCTIONAL FEATURES:
The primary objective of the Accounts Payable System from Legler Systems is to process accounts payable information in an online environment so that specific procedures are performed in seconds rather than the hours required by traditional batch methods of computer processing. This system performs the basic accounts payable functions by providing a complete and accurate record of all transactions affecting each vendor or supplier.
Specific functional features of this online Accounts Payable System are highlighted below:
1. Maintain Vendor Invoice Records on the dollar amounts owed to and
paid to various vendors, as well as the associated general ledger
account distribution information for expenses.
2. Automatically assign voucher numbers to each input transaction for
positive control and audit trail purposes.
3. Automatically code expense accounts to an invoice based upon
standard expense codes setup for the vendor to reduce clerical
coding errors.
4. Print accounting reports, such as Vendor Invoice Report, Cash
Requirements Report and Accounts Payable Register, to provide an
audit trail of data entered into the system and maintain adequate
control over company liabilities and expense distributions.
5. Print vendor checks with stubs for those invoices due for payment.
These same multi-purpose check forms can be used by the Payroll
System. For selected vendors, the invoice description can be
printed on the check under the signature line. Miscellaneous
vendor checks are also printed by procedure AP06.
6. Automatically update Vendor Invoice Records with payment
information as checks are printed by procedure AP06 so they will
not be paid again.
7. Automatic calculation of payment due date and discount amounts
based upon invoice date and gross amount and other information
stored in the Vendor Master Record.
8. Maintain Vendor Master Records for each vendor or supplier
receiving computer-printed checks. Information in the Vendor
Master Record includes name, address, vendor discount terms and
expense distribution account codes. For new vendors, the system
can automatically assign the vendor number.
9. Handle one-time or miscellaneous vendors who do business with the
company on an occasional basis, where mailing name and address is
entered with the invoice.
10. Automatically test for duplicate invoices at the time of entry of
new vendor invoices to avoid duplicate payment of the same invoice.
This option is set by System-Option-25.
11. Automatically create vouchers for recurring (periodic) payments,
such as rent and lease payments, to minimize data entry operations.
12. Handle multiple locations through the use of a separate Location
Code defined by Code Definition Records.
13. Automatically update the Vendor Master Record with invoices paid
for the latest two years with automatic rollover from one year to
the next so special year-end clerical procedures are avoided.
14. Handle any fiscal year for accounting purposes, even one different
from the calendar year, through the use of a separate accounting
period number (YRMO).
15. Print annual IRS-1099 forms and totals for IRS-1096 transmittal
form for selected vendors.
16. Provide auxiliary input capability for initial file creation and
processing input created by other computerized systems, including
separate data entry operations.
17. Provide source document control over input transactions to the
computer by establishing batch numbers.
18. Provide online inquiry capability to identify all invoices
associated with a specific vendor and to summarize payments by
month for the last five years.
19. Provide online query capability of a specific vendor by number or
initials and of a specific invoice by invoice or voucher number.
20. Define an Active-Flag to prohibit the current entry of invoice
data for a vendor yet reference that vendor number for historical
reporting purposes.
21. Provide the capability to create custom AP reports where the user
defines the data fields to be selected and printed (DB12). This
procedure is a general purpose custom report writer.
22. Provide automatic update of the Check Reconciliation System for
the entry of manual check information by procedure AP02 and check
payments by procedure AP06.
23. Allow the user to specify the sequence of records in a report by
entering a primary (vendor) and secondary (invoice) sort option.
24. Automatically display a detail record (Vendor Master Record or
Vendor Invoice Record) when function key F7 is pressed when in
data entry procedure AP02 and in inquiry procedures AP10 and AP15.
25. Print separate checks for each invoice from a vendor when the
Check-Flag in the Vendor Master Record is set to "S".
26. Handle multiple bank accounts, however the check numbers must be
unique within each Bank-ID.
27. Verify the state code and ZIP code (first 3 digits) associated with
a vendor address. The Canadian province code is validated when the
ZIP code is not numeric.
28. Automatic vendor number assignment whenever the vendor name
initials are entered as the vendor number. Vendor name initials
are manually or automatically set in the Vendor Master Record.
29. Automatically post voucher information to specific ledger accounts
to eliminate clerical posting errors by interfacing directly with
the General Ledger System (AP09). Either the cash or accrual
accounting method is supported.
30. Provide system options in the Company Control Record to handle
6-digit or 8-digit dates for Y2K compliance.
31. Provide the capability to search the invoice description or the
miscellaneous vendor fields for any text and display the matching
invoices on the screen.
The Accounts Payable System keeps track of unpaid vendor invoices and
of when they are due to be paid. The Cash Requirements Report (AP05) can be
printed at any time to identify all unpaid vendor invoices for a particular
vendor or for all vendors with a specific payment due date. If management
decides not to pay an invoice that is due, then the appropriate Vendor
Invoice Record is modified with a future payment date. Four dates are
associated with each invoice:
1. Invoice date refers to the date of the vendor invoice.
2. Due date refers to the last date on which an invoice can be paid
and still be eligible for any available vendor discount.
3. Payment date refers to the date when the invoice is scheduled to be
paid. Normally, this date is automatically set to the due date.
When a payment is to be delayed beyond its due date, then the
payment date alone is changed. The due date remains unchanged.
When the invoice is actually paid, the system will not take a
vendor discount when the payment date is beyond the due date.
4. Check date refers to the date the check is printed.
The Pay-Code associated with each vendor invoice is used to identify
special conditions associated with the invoice, such as "M" for prepaid
manual invoices and "P" for periodic payments. Most vendor invoices have a
Pay-Code of "R" for regular invoice.
MORE INFORMATION:
To receive additional information on this online accounting software, please e-mail Bill Legler or go to the Accounts Payable System page.