Accounts Payable

The Accounts Payable application is used to maintain vendors, enter invoices, debit or credit memos and generate payments.

The Financial Accounting System (FAS) accepts partial and final payments against purchase orders. As payments are applied to an encumbrance, the “open amount” is reduced. A final payment removes any remaining encumbrance from open status. Unused amounts are returned to the available balance when payments are processed or encumbrances are liquidated.

A complete vendor file is included in FAS. It is maintained through on-line access even while transactions are being processed.

The system also includes the following bank reconciliation features:

Automated check reconciliation processing using electronic media from banking institution
Human Resource System interface
Financial Accounting System interface
Manual processing for checks drawn against financial institutions unable to supply information on electronic media

Highlights

Create one-time vendors
Multiple addresses per vendor, including order from locations
District employees tied to vendor address book to keep address information in sync
Combine duplicate vendor records using a utility program
Un-post invoice batches for error corrections
Categorize and track vendor groups and commodity codes
Track vendor standard items and negotiated pricing
Fully compliant for 1099 tracking and reporting
Attach scanned documents associated with vendor including contracts, price lists, etc.
Create recurring invoice batches
Pay electronically using ACH standards
Three-way matching among the purchase order, receipt and invoice