Accounts Payable System (APS)

A robust Accounts Payable System (APS) is part of Primac Financials, fully integrated with other procurement components including Purchase Order, Receipts and Job Costing. Like all other Primac systems APS is designed to reduce errors by allowing users to review all entries prior to posting. With a full set of reports it allows companies to efficiently manage their cash-flow. A fully integrated requisition system allows companies to set approval levels for purchase orders - by username and PO type.

Accounts Payable System Features

• Automatically calculates discounts and provides manual override for discount terms; provides for accepting an invoice and a manually prepared check for account distribution and check reconciliation purposes
• Compares vendor invoice to PO and Receipt activity, informing the operator as to what is due
• Provides a check reversal function, to allow check entries and the reversal of account payable entries
• Maintains all 1099 data for yearly tax reporting requirements
• Allows for partial payment of open items
• Allows users to review purchase orders and vouchers for the selected vendor. Provides the option to pay against PO's and receipts and monitor that detail for reporting
• Provides family of vendor and payment history reports and inquiries
• All reports can either be printed, emailed or downloaded to operator's desktop
• Supports the use of unlimited bank accounts and supports the automatic reconciliation of all bank accounts
• Allows restarting during the check processing without having to void and reprint any valid checks already produced