alio Accounts Payable
The Accounts Payable application is used to maintain vendors, enter invoices, debit or credit memos and generate payments.
The Financial Accounting System (FAS) accepts partial and final payments against purchase orders. As payments are applied to an encumbrance, the "open amount" is reduced. A final payment removes any remaining encumbrance from open status. Unexpended amounts are returned to the available balance when payments are processed or encumbrances are liquidated.
A complete vendor file is included in FAS. It is maintained through on-line access even while transactions are being processed.
Accounts payable transactions access the vendor and purchase order data directly, eliminating redundant data entry. The payment amount is the only field that must be entered when making payments against purchase orders. All other fields of information will pre-load from the order. Invoice numbers can be system generated. Direct payments to a vendor without a purchase order are also supported. Recurring invoices can be defined to reduce redundant data entry on bills such as utilities and phone, where each month only the amounts differ.
Invoices may be entered when they are received to provide accurate accounts payable data. FAS prepares checks only when authorized, based on your district’s matching and business rules. Manual, computer-generated and ACH payments are all supported. Users may designate whether a vendor is to be issued one check or multiple checks within a check run. Invoice, purchase order and credit memo data are listed on the check stub for vendor reconciliation.
The system also includes the following bank reconciliation features:
- Automated check reconciliation processing using electronic media from banking institution
- Human Resource System interface
- Financial Management System interface
- Manual processing for checks drawn against financial institutions unable to supply information on electronic media
Highlights
- Create one-time vendors
- Multiple addresses per vendor, including order from locations
- District employees tied to vendor address book to keep address information in sync
- Combine duplicate vendor records using a utility program
- Un-post invoice batches for error corrections
- Categorize and track vendor groups and commodity codes
- Track vendor standard items and negotiated pricing
- Fully compliant for 1099 tracking and reporting
- Attach scanned documents associated with vendor including contracts, price lists, etc.
- Create recurring invoice batches
- Pay electronically using ACH standards
- Three-way matching among the purchase order, receipt and invoice
