Alio financial management

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
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