The Accounts Payable module facilitates the payment of invoices, either through the accounts payable process (by creating a Pay Run) or by creating A/P cheques.
The A/P process begins with Payment Possibilities, progresses through Payment Authorization (optional) and Preliminary Run, and ends with the Final Cheque Run. During the process the unpaid invoices are selected and grouped in an authorization for payment (a Pay Run is created); complete prepayment information is generated; cheques and/or EFT payments are created; and related reports are prepared. There are also options to reverse and/or cancel a payment.
Note: Throughout the process, once a payment authorization is created in Payment Possibilities, there is the option to proceed to the next step or to cancel and continue later, using the Pay Run Management sub-module.
The Accounts Payable module also has the capability to print cheques and to apply MICR Encoding.
The Accounts Payable module includes the following sub-modules:
Note: Click on any one of the above links to learn more about that section.