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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