Accounts Payable

By: Profit Master Canada  09-12-2011
Keywords: Invoices, Operations Management, General Ledger

The Accounts Payable application helps you gain tighter financial control over the cash flow of your business, and assists you in performing the daily tasks necessary for timely remittance to your vendors. Beyond the basic bill paying capabilities, it provides increased control of operations for a comprehensive data flow that gives excellent control over orders, receipts, remittances and cash flow. You will be able to record and keep track of vendor invoices, make payments on these invoices at the optimal time to take advantage of available discounts, and automatically accommodate for vendor terms that have been agreed to.

  • Records and traces vendor invoices and credits.
  • Prints cheques for each vendor and the invoices selected for payment to the selected vendors.
  • Posts expenses to multiple General Ledger accounts from a single invoice.
  • Accounts for invoices and expenses under the cash or accrual method of accounting.
  • Allows you to select the date to pay each invoice and the amount you want to pay through a payment schedule.
  • Maintains a master vendor file for each vendor that integrates with Purchasing and Receiving, eliminating the need to enter the same information twice. Allows a master ‘pay to' vendors for buying group invoices.
  • Allows you to adjust vendor invoices.
  • Integrates with Purchasing and Receiving to automatically set up payments on merchandise received and invoiced from your vendors.
  • Provides for automatic selection of invoices to be paid based on:
    • Due date
    • Applicable discounts
    • Vendor
    • Invoice number
    • Currency
  • Lets you set up check and balance procedures that require different individuals to select invoices that are to be paid.
  • Keeps track of trade and non-trade discounts taken.
  • Integrates with Operations Management's bank reconciliation and GL autopost functions.

Keywords: General Ledger, Invoices, Operations Management

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General Ledger

First, up-to-date information about every phase of the business - Accounts Receivable, Accounts Payable, Inventory, Sales, and Cash Audit - can be found through General Ledger inquiries and reports. Contains a provision for historical entries so you can close your books in the period following the posted closing date, and simultaneously bring prior-period figures up-to-date.


Cash Register Audit

The application allows you to track multiple forms of tender per transaction, assign any workstation as a cash station, keep track of paid-outs, cashed cheques, and integrate credit and debit card transactions based on Payment Application Data Security Standards. Further, it allows for multiple cash drawer inserts, enabling quick and easy shift changes and ensuring more accurate cash-out balances.


Accounts Receivable

Establishes a variety of credit terms and payment conditions using different combinations of interest to be applied; early payment discounts, minimum balances due, and payment dates. ProfitMaster Canada's Accounts Receivable provides detailed and timely account information to help maintain customer records, and secure an effective credit operation.