Link groups of vendors to specific AP accounts in the GL. Default account can be overridden during bill or payment processing. Acumatica automatically offsets the correct account when the payment is applied.
Issue or accept invoices in a foreign currency. Use accounts payable automation to apply the effective currency rate and make the translation without any work for your staff. Currency triangulation and realized gain/loss calculations are automatic. Unrealized gains and losses can be calculated through a balance revaluation process.
Create recurring bills by setting the frequency and time frame for payment. Recurring bills will appear in the recurrent transaction processing screen for review, modification, and release.
Vendor refund documents debit a cash account and debit an AP account. Apply a refund toward a debit adjustment or prepayment.
Customize your AP aging categories and create a full set of aging reports including total outstanding, past due, cash requirements, and vendor performance.
Accumulate 1099 information for any designated vendor. Track 1099 payments and produce the appropriate 1099 reports. Multiple branches can close books (tax periods) independently of one another.
Control access within your accounts payable software by specifying which individuals and roles can view and modify vendor account information and balances. Restrict sensitive vendor information.
Maintain a complete audit trail of all transactions. Documents cannot be deleted or cancelled. Correct mistakes using correcting or reversing entries. Acumatica accounts payable solutions capture the ID of the user who entered the transaction and the user who modified the record. Notes and supporting electronic documents can be attached directly to the transactions.