Accounts Payable

The Accounts Payable system tracks vendor invoices and payments.

When setting up vendors you specify the currency, thereby setting the currency for their invoices. The Open Payables Report and AP Invoices Screen allow currency selection, so you can see how much you owe in each currency. You set up at least one bank account for each currency. The Bank Book shows transactions and balances for each bank account. For more info on multi-currency operation see Multi-currency Overview.

The program assigns the (default) due date for each invoice based on the vendor’s terms. Intelligent payment management is facilitated by an option to "AutoCreate" Checks for all invoices due for a selected currency. These may later be modified or deleted. Checks can be computer printed or hand-written. The system allows reconciliation of Checks returned from the bank and tracking of void Checks.

An integrated phone dialer is available by right-clicking on vendors, invoices, or Checks.

Data is passed to the GL system automatically via Journal Vouchers with expenses converted from foreign currency to domestic currency. "You can trade globally in multiple currencies while your books remain in domestic currency". GL accounts for AP, discounts, and gain/loss on foreign exchange are retrieved from the currencies table.

For info on how purchasing and receipts of inventory relate to inventory and general ledger please see Inventory Overview.

Vendors

AP Invoices

AP Checks

Vendor Types

AP Reports