Accounts Payable Module

Each AP line item can be assigned a deferred expense schedule to you can accurately recognize expenses in the proper reporting period. Acumatica will automatically split the expense between the prepaid expense asset and expense accounts and recognize the expense after running the prepaid expense recognition process.

The AP module automatically calculates Use and VAT Taxes and prepares reports for tax filing and reporting. Each vendor can be assigned a default tax zone which includes the list of the applicable taxes and reporting municipalities for the vendor. This default information can be overridden during the bill entry. Tax calculation options include multiple number of tax items per document line, deduction of tax amount from the price, and tax on tax calculation. Acumatica also supports Withholding tax calculations.

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Payment Approval Process

Bills can be automatically approved for payments or go through a payment approval process so you can prioritize or delay the bill payment, select the account the bill should be paid from, and select a method of payment. Once the bill is approved for the payment you can print the check or issue an electronic payment.

Multiple AP Accounts in GL

Acumatica allows you to link different groups of Vendors to different AP accounts in the GL. The default Vendor AP account can be overridden during the Bill or Payment entry process. Acumatica automatically tracks which account was selected and offsets the correct account and amount when the payment is applied.

Multiple Currencies Support

Acumatica allows you to manage vendors who issue invoices or accept invoices in a foreign currency by keeping a separate balance for each foreign currency. The system will automatically look up the effective currency rate and calculate the document amounts in your base currency. Currency triangulation and the realized gain/loss calculation is automatically performed by the system. Unrealized gains and losses can be calculated through the AP foreign currency balances revaluation process.

Recurrent AP Documents

Acumatica allows you to create recurring bills to reduce data entry and reduce potential errors. Set the frequency of the payment as well as the time frame. Once established, recurring bills will appear in the recurrent transaction processing screen so you can modify and release them.

Vendor Refunds

Acumatica allows you to receive vendor refunds. The Vendor Refund document will debit a cash account and debit an AP Account. You can apply a refund towards a Debit Adjustment or Prepayment document.

AP Aging Reports

Acumatica allows you to customize your AP aging categories and provides a full set of aging reports for analyzing your AP obligations. Aging reports provide total outstanding balances as well as past due accounts to help you analyze your AP, cash requirements, and vendors performance.

1099 Reporting

Acumatica will trace 1099 information for each vendor that is designated as a 1099 type. The 1099 box is determined by the system based on the expense account but can be overridden when recording invoices. Acumatica tracks 1099 payments and produces the appropriate 1099 reports. You can specify the minimum amount of each type of 1099 box within the year.

Vendor Account Security

Acumatica allows you to specify which individuals and roles can view and modify vendor account information and balances in order to prevent unauthorized account access and restrict sensitive vendor information.

Audit Trail

The AP module provides a complete audit trail of all customer transactions. After a document is released, you cannot delete or cancel the document - to correct mistakes, you must enter a correcting AP document to reverse the incorrect entry. Acumatica keeps the details of all AP Documents, including the user who entered the transaction and the user who modified the record. The auditing process is simplified by having notes as well as supporting electronic documents attached directly to the transactions.