Accounts Payable Software
Track money owed, available discounts, due dates, and cash requirements. Access reports anytime, anywhere using a web browser.
How Accounts Payable Software can work for you
Manage vendor invoices, automate payment processing, predict cash requirements, track vendor balances, optimize available discounts, and deliver vendor reports.
Key Benefits of Accounts Payable Software for your Company
Enter prepayment requests, issue prepayments, and apply prepayments to invoices as they are received. Prepayment balance is kept separate from the regular AP account.
Prepaid Expense Recognition
Assign a deferred expense schedule by AP line item. Automatically split payments between the prepaid account and expense accounts.
Use, VAT, and Withholding Tax Support
Automatically calculate Use and VAT taxes and prepare tax filing reports. Assign a default tax zone to each vendor. This default can be overridden during invoice entry. Tax calculation can include multiple tax items per document line, deduction of tax amount from the price, and tax on tax calculation. Acumatica also supports Withholding tax calculations.
AP Invoice Automated Approval and Payment
Set up the process to automatically approve for payment or follow an approval process to prioritize or delay payment, before these documents are processed in the accounting systems and paid. Designate an account to pay from, or select a payment method.
Important Features of Accounts Payable Software
Link groups of Vendors to specific AP accounts in the GL. Default account can be overridden during Bill or Payment processing. Acumatica automatically offsets the correct account when the payment is applied.
Issue or accept invoices in a foreign currency. The system will automatically apply the effective currency rate and make the translation. Currency triangulation and realized gain/loss calculations are automatic. Unrealized gains and losses can be calculated through a balance revaluation process.
Create recurring bills by setting the frequency and time frame for payment. Recurring bills will appear in the recurrent transaction processing screen for review, modification and release.
Vendor Refund documents debit a cash account and debit an AP Account. Apply a refund toward a Debit Adjustment or Prepayment.
Customize your AP aging categories and create a full set of aging reports including total outstanding, past due, cash requirements, and vendor performance.
Accumulate 1099 information for any designated vendor. Track 1099 payments and produce the appropriate 1099 reports.
Control access by specifying which individuals and roles can view and modify vendor account information and balances, restrict sensitive vendor information.
Maintain a complete audit trail of all transactions. Documents cannot delete or cancelled. Correct mistakes using correcting or reversing entries. Acumatica captures the ID of the user who entered the transaction and the user who modified the record. Notes and supporting electronic documents can be attached directly to the transactions.