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The Accounts Payable Software
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AccountMate 7 for LAN Instant Access to Vendor Information
Users always have instant access to a vendor’s balance, open debit, available credit, as well as
year-to-date and accumulated-to-date purchase totals while posting an invoice for the vendor.
Year-to-date purchase information is calculated based on the company’s total purchases from
a vendor within a user–defined year.
 AP Invoice Transaction – Information Tab
Enhanced Vendor Maintenance Functions
Vendor Ledger Card—The Vendor Ledger Card provides a snapshot of each vendor’s balance
by displaying detailed invoice and payment information including prepayments, applied payments
and adjustments, and invoice GL Account ID distribution.
Archive Deleted Vendors—Inactive vendors that have no outstanding balance can be deleted and archived. Archived vendor records can be reactivated at any time, eliminating the need to re-enter data. Set up Authorized Referenced Accounts
Set up a list of GL Account IDs that may be used when posting AP invoices for a vendor to minimize
data entry errors and control the transactions that affect GL Account balances.
One-Time Vendor Invoice Entry
The one-time vendor option provides a quick way to input information for a one-time expense without
creating a vendor record.
Warning about Duplicate Invoices
If a payable invoice with the same invoice number has been
recorded for a vendor, an alert appears to help prevent
duplicate recording of invoices. Invoice look-up is also available
during invoice posting to determine whether the invoice is paid
or outstanding.
Automated Prepayment Feature
With the prepayment invoice feature, users can process payments
even before receiving the vendor’s invoice. AccountMate posts
the disbursement to a prepayment GL account and handles the
expense posting when the prepayment is applied to vendor invoices.
Recurring Invoices
Recurring AP invoice templates are easily set up for rent, loan
payments and other recurring disbursements. Invoices can be set
to recur at different intervals with a defined limit to the number of
recurring cycles and/or a recurring end date. Several invoices can
be quickly generated from these templates without having to
re-enter the data, and can be amended like other invoices. Users
can save time and maximize productivity by eliminating duplicate
data entry for recurring transactions.
Purchase Order Lookup
The ability to view all purchase orders for a selected vendor while
posting an invoice aids in matching a purchase order to an invoice.
Nonpayment Invoicing
When recording an invoice, users can designate the amount that
will not be paid. This is especially useful when part of an invoice
is paid directly by a third party, covered by a barter agreement
or offset against a receivable.
Reverse Accrued Liabilities for PO Receipts
With the link between PO and AP, users can accrue liabilities
upon receipt of purchased goods and then reverse the accrual
upon posting of the accounts payable invoice.
1099 Payments
Users can set up a default 1099 type for each vendor and
override the 1099 type when recording invoices. AccountMate
tracks 1099 payments and produces the appropriate 1099
reports. Users can also specify the minimum cumulative amount
of each type of 1099 payment within the year that will require the
issuance of a 1099-Misc Form to the vendor.
Credit Card Handling
When credit card vendors are set up, users can record purchases
against each vendor account and record payment through one or
several credit card companies. This allows the system to maintain
an accurate purchase history for the regular vendor and a clear
payment history for the credit card vendor. Accounting entries are
generated to reclassify the payable balance from the original
vendor to the credit card companies. This feature also comes
with a separate void function to allow recording of reversed credit
card charges.
Invoice Payment Urgency Code
A payment urgency code can be assigned to each invoice to
help prioritize invoice payments and check printing.
Mass Payment Authorization
Several invoices can be authorized for payment based on due
date, urgency, discount date, vendor or reference. The system
automatically calculates early-payment discount and payment
amounts for each invoice. All the payments can be authorized
in an instant.
Built-in Multi-Currency Feature
When multi-currency is activated, a foreign currency code can
be assigned to a vendor, so that invoices and payments can be
recorded in the appropriate currency. The system automatically
computes the realized gains or losses upon payment of foreign
vendor invoices. Outstanding foreign currency invoices can be
revalued based on a user-defined exchange rate as of a selected
revaluation date.
Flexible Check Printing Options
Print checks on either pre-printed or blank check stock.
Customize the order in which the bank routing number, account
number and check number are printed using the Microline font
that comes standard with AccountMate. Print checks upon invoice
recording for petty cash-type disbursements or generate them
using the Print Computer Check function for larger expenses.
Record Wire Payments and Handwritten Checks
Record wire payments using the Post Handwritten Check function.
This function is also designed to record handwritten checks that
were issued outside of the regular check-printing cycle.
Check On-Hold Feature
The on-hold feature allows users to print all checks at once
but flag checks that have not been released. The total amount
of checks held will be shown separately at the end of the
aging report.
Record Cleared Checks
Users can view all outstanding Accounts Payable checks drawn
against a bank account. Reconcile bank accounts quickly by
matching the checks displayed on-screen against the current bank
statement to easily identify which checks have cleared the bank.
Integration with General Ledger and Purchase Order
Integration with the General Ledger module enables users to
easily post accounting entries for accounts payable transactions
to the General Ledger temporarily or permanently using the
Transfer Data to GL or Period-End Closing functions, respectively.
Integration with the Purchase Order module also allows users to
record and track a purchase transaction from order entry, through
receipt and invoicing, to payment; thus allowing users to more
effectively manage their vendor base and inventory. Users can
also accrue liability as soon as a purchased item is received or
postpone recording of liability for when users receive the
vendor’s invoice.
Other Features
AccountMate Software Corporation © AccountMate Software Corporation. All rights reserved. Reproduction in whole or in part without permission is prohibited. The capabilities, Software Requirements and/or compatibility described herein are subject to change without notice. Contact AccountMate or Authorized AccountMate Solution Provider for current information. |
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