The Encompix Accounts Payable (AP) module provides accounting professionals with the financial capabilities to compare vouchers against checks written for payment, monitor open items, adjust vouchers as necessary and maintain detailed vendor information. By closely tracking all payables activity with Encompix’s comprehensive features, the company’s financial position can easily be analyzed. While posting vouchers and payments, transactions are created and maintained in the applicable journals, i.e., Purchase Expense Journal and Cash Disbursements Journal. These transactions may be posted to the General Ledger at any time during the month.
Select payment of open invoices for a specified due date, vendor and/or invoice. Manual checks may also be updated in the regular check processing. Efficiently perform check reconciliation against the bank statement. Provide 1099 form information for year-end processing. When a vendor calls to review an invoice, have instant access to the information. Encompix also retains unlimited history based on company standards and requirements.
The Accounts Payable module is always current with how much is owed and when it's due. Cash management improves with the Cash Requirements Report, which reflects cash needed to cover open invoices and provides a cumulative balance by due date.
Check reconciliation with verification of AP payments with actual bank statements
Automatic or manual payment selection for AP checks
Individual selection of automatic payments from an open voucher list, by vendor, and/or by due date or range of due dates
The Unposted Payment listing by vendor prior to check printing
Linkage between AP and Purchasing for processing vendor invoices (vouchers)
Interface to Inventory for vendor ranking with quantity price breaks and last quoted price
User-defined aging buckets with on-line inquiry or reporting
Time-Phased list of expenditures
Cash requirements projections 30, 60, 90 days forward
Interface to Job-Costing for actual costing capabilities