Your Accounts Payable personnel do more than just pay the bills. They are involved in building a relationship with your vendor by making sure all payments and contractual conditions are fulfilled. They also add to the bottom line when taking advantage of vendor discounts offered by paying invoices in a timely manner. Managing your suppliers needs while managing your cash flow requires a flexible and adaptable Accounts Payable system.
The Fitrix Accounts Payable module provides a comprehensive solution for managing your cash expenditures. It records transactions and obligations to vendors, offers flexible cash disbursement capabilities, and takes advantage of discounts offered for invoices paid by the discount due date. The financial reports available include a payables aging report and a future cash requirements report which provide valuable business insight for cash management decisions.
- Modular Integration – Direct integration with the Purchasing and General Ledger modules
- Online Access To Vendor Activity and History – the vendor activity program provides a listing of all invoices entered in the database for the vendor with flexible sort and query logic plus drilldown to payment history capabilities
- Automatic Payment Selection – Select invoices for automatic payment based upon the due date, discount due date or vendor. Select individual invoices for full or partial payment
- Vendor Hold – ability to flag a vendor as “On Hold” so that automatic payment selection will not pay the vendor
- Remittance Address – supports multiple Pay-To addresses
1099 Form – automatic creation of year end 1099 forms
- Recurring Invoice Capabilities – Automatically creates recurring invoices such as a monthly lease payment without repetitive data entry
- Remittance Advice Report – prompted after each check run to print a remittance advices for all checks where the number of invoices paid do not fit on the standard check stub
- Bank Reconciliation – ability to electronically import banking activity from your financial institution and then reconcile your bank statement balance to your General Ledger balance.
- Use Tax – multilevel taxing capabilities for multiple localities such as state, county, and city. Canadian tax handling (GST/HST) is also supported
- Account Groups – the ability to set up a group of general ledger accounts by an account group code that is stored with the vendor code. This code is then used in when entering vendor invoices so that you do not have to remember the GL distribution for the invoice thereby streamlining data entry
Reports available include:
- Vendor Aging
- Vendor Ledger
- Vendor Open Item Report
- Cash Requirements Report
- Check Register
- Outstanding Checks Report
- Check Reconciliation Report
- GL Activity By Account Number for AP Transactions Only
- Vendor Labels
- Vendor 1099s