Accounts Payable Menu Accounts Payable Menu
There are six main Accounts Payable options available. They are accessed on the Accounts Payable Main Menu.
Invoices
Payments
Void Invoices
Check Voiding
Reports
Vendors
Trade Invoices, Subcontractor, and Retention Payment Invoices are entered and edited through this menu option. Credit Entries are also entered through this option.
A. Trade Invoice amounts may be divided and charged to as many cost codes or other accounts desired. If payments have been made manually before the invoice was entered, they are entered through this menu option and specified as having been prepaid Paid.
B. Subcontract Invoices are entered and edited through this menu option. Billing and Payment history are displayed at the time of entry. Discounts, retainage, Backcharges, and amounts due can all be entered on each invoice.
C. Retention Payment Invoices creates a live payable invoice from retainage amounts withheld on prior subcontractor invoices.
D. Credit Entries in the accounting system is a simple, intuitive process. Credit entries can be made in the Accounts Payable Invoice program.
Invoices are selected for payment and posting through this menu option.
•Select Invoices for payment
This menu option allows the selection of invoices that are to be paid and discounts that are to be taken. Invoices that have been paid by a hand-written check may be marked as paid. Partial payments or retainage payments may also be made. Final retainage payments may be made when a subcontract is completed.
•Print Checks
This program prints checks for all invoices that have been selected for payment. Checks may be printed for a single vendor or for all vendors. Every invoice included in the payment will be printed on the check stub. If more invoices are being paid than will fit on one stub, multiple stubs will be printed with the final check for the total of all stubs. A separate check is written for each subcontract.
•Print Check Register
This program prints a listing of the checks that have been printed. A summary of the paid invoices is also printed.
•Email Payment Notifications
Once checks have been printed, emails can be sent to the vendors for whom checks were printed, notifying them that the check has been written and is on its way.
•Print Lien Waivers
The Lien Waiver program prints lien release forms, allowing the vendor or subcontractor to certify that payment was received thereby releasing the lien on the property.
•Export Account Reconciliation File
This program allows the user to select one or more A/P Check Runs and generate an Account Reconciliation File to send to the bank.
This menu option is used to void Invoices by creating reversing Invoices for selected A/P Invoices and marking both the reversing and original Invoices as fully paid.
Using this option, automatically voids any A/P check printed by the accounting system or marked as Paid by Handcheck or Credit Card. In some cases, it is possible to void just the check or both the check and the supporting invoice(s)
•Posted Invoice Analysis
This program produces a listing of all invoices whether paid (closed) or unpaid (open) for a single vendor or subcontractor or for all vendors and subcontractors. A Payables Aging Analysis is included for each vendor. This report may be used to facilitate invoice payment selection or to print a Payables History Listing which is used mainly for reference and archival purposes. Following any complete listing of all vendor accounts, a Cash Requirements Analysis can be printed if desired. This report shows how much money will be required to pay bills over the next 120 days using each of four different payment strategies.
•Subcontract Report
This option is used to produce a listing that is the equivalent of the Invoice History Listing for subcontractors. The Subcontract Report contains information about subcontractors on a job. This information includes past payments, backcharges, retention, check numbers, and dates. This report may be used to determine a payment schedule for subcontracts.
A detailed listing of every voucher and change order that has been entered into the system for each subcontract is printed. All entries are totaled to give the current payment status. A summary listing prints a one line summary of the current payment status.
•Subcontract On-Screen Review
This program displays an on screen review of the payment status of any subcontract.
•Vendor Lists
The Vendor Listings program is used to obtain any one of four vendor listings. The listing forms include alphabetic, numeric, address and detail listings.
•1099 Forms
This option allows 1099 forms to be printed for all vendors or for a single vendor. The information to be held on the 1099 form may also be edited through this option.
•Sales Tax Report by State
This option prints a report showing Sales Tax totals for a given range of dates for a given state. This report can be helpful in reporting to the state taxation authority how much sales tax was paid on all invoices incurred during the selected time frame.
The Vendors program is used to enter, edit or delete vendor or subcontractor information.