Text Box: Accounts Payable

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Text Box: Application Overview
The INTERAC Accounts Payable System is an efficient, comprehensive product that allows entering, tracking, and paying invoices.  
Special features include:
· Handles invoices to be paid through Accounts Payable as well as invoices paid by direct (manual) checks.
· User-defined accounting period length.
· System can be run on a cash or accrual basis.
· Invoice retainage can be entered and tracked through to final payment.
· Partial payments can be made on invoices using either AP or manual checks.
· Simple single button Void Check process.
· Discounts can be automatically calculated by vendor or entered during invoice posting.
· Regular pay date can be set-up for each vendor, based on day of the month or number of days from invoice date.
· Vendor payments can be made electronically via direct deposit.
· Optional distribution code (D-Code) can be used to define invoices for reporting purposes.
· User-defined history files containing system transactions.
· Open Item file containing all unpaid invoices.
· Design and print Lien Waivers to be sent with checks.
· On-screen inquiry into open item or any history files.
· Prints five types of 1099 forms and can create magnetic media file for IRS reporting.
· Cash Analysis Report assists in analyzing cash requirements.
· Interfaces with INTERAC Document Management for scanning, storing, and retrieval of invoice documents             and checks, or any other document pertinent to AP processing.
· Interfaces with Cash Manager to provide up-to-date detail disbursement information for a complete analysis of cash.
· Allows all reports to be displayed on screen for immediate inquiry or stored in a file for later use.
· Accesses all features through convenient menus.
· Interfaces with INTERAC Inventory, Purchase Order, Job Cost, Equipment Cost, Subcontractor Control, Bank 
Reconciliation, General Ledger, Document Management System, Cash Manager.

 
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