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Business Software Features - Financial Portrait Accounts Payable - Part 2

CORRECTION OF CHECK PRINTING ERRORS: Printer failures and forms jams can be handled easily by a special procedure combining ease of use with sound controls. Selected check transactions that were not printed successfully are assigned a new check number and reprinted so that the data base always contains the correct check number.

MANUAL CHECK WRITING:
Manual check writing within the Financial Portrait A/P system puts the full range of vendor and invoice information at the fingertips of the user.  This allows immediate display of the amount due and discount available for any open invoice.  This holds true regardless of whether other transactions are pending (not yet posted) for an invoice.

AUTOMATIC DISPLAY OF OPEN ITEMS DURING MANUAL CHECK ENTRY:
Open invoices may be displayed in voucher or due date sequence during manual check writing.  A range of voucher numbers or due dates can be specified to limit the display.  A variable number of lines per invoice allows entry of multiple transactions for each invoice.

ABILITY TO DEFAULT THE AMOUNT TO BE APPLIED BY INVOICE:
In conjunction with the automatic invoice display options, the transaction amount may be defaulted based on the amount due, the discount available, a percentage of the remaining due, or numerous other criteria.  The clerk or accountant can then review and enter the appropriate exceptions to the pending transactions.

SPECIAL PROCESSING FOR EACH TYPE OF DISPUTED AMOUNT:
Each type of disputed item may be identified within a certain category.  Each category or dispute code contains options that indicate any exception processing during check creation and/or calculation of vendor based statistics.

USER DEFINED HISTORY SUMMARIES BY TRANSACTION TYPE, BUYER, ETC.:
A/P transaction history (including multiple categories of purchases), is available by time frame, vendor, and transaction code.  This summarized history may be accumulated by week in addition to being tracked according to the primary financial calendar.  History records can be consolidated by transaction type.  They can also be broken out by salesman.  Another feature is the ability to consolidate one time vendors.

MULTIPLE CATEGORIES OF ACCOUNTS PAYABLE:
Companies with multiple categories of accounts payable can be handled easily.  This could include one or more A/P trade accounts (for example by vendor type or division), an A/P account for advances, etc.  The accounting user is not affected during check writing because the appropriate G/L account for A/P is always relieved automatically.  When new items are created, the G/L account for A/P can be determined at the transaction code level, vendor level, or system level.

MULTIPLE LOCATION AND PROJECT BASED ACCOUNTS PAYABLE:
Accounts Payable can be segregated by project and/or location independently of the A/P trade category.  Each open item is assigned a project or location code at the time of creation based on the transaction code used.

AUTOMATIC G/L INTERFACE:
G/L transactions can be written automatically based on any transactions posted.  Each transaction code within Accounts Payable determines the G/L Transaction category, the G/L accounts affected, and the level of summarization to be performed.

FIVE WAYS TO SUMMARIZE G/L TRANSACTIONS:
There are five summary levels to choose from when configuring the outbound G/L interface.  Based on company preferences and issues such as transaction volume, the application supervisor configures the A/P transaction codes and JE processing codes accordingly.  Since the summary level can be different for each type of transaction being input, the flexibility is there to get just the right amount of detail flowing to G/L.  For example, the G/L effect of checks written could be consolidated into one transaction per vendor and check; where as the effect of vouchers posted could be broken down by vendor and voucher.  Summary of G/L transactions can be based on the following: transaction date and G/L account; vendor, check number and voucher number.  A full detail option is also available.  The summary level for transactions posting against the subsidiary ledger control account can be specified separately.

G/L REFERENCE NUMBERS:
The vendor number, A/P reference number (check number, purchase order number, etc.), and open item number may optionally be included within each G/L transaction.  The reference numbers provide increased audibility and analysis capabilities within the General Ledger Application.




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