TRAFXS Systems - Accounts Payable
TRAFXS Accounts Payable Solution
TRAFXS features a complete, flexible Accounts Payable system which is completely integrated with its General Ledger package. This system was designed to encompass all the features found in the most common A/P packages now in use.
Both invoices and credit memos are easily posted, along with their general ledger distributions. Intercompany transactions automatically generate offsetting entries to retain the G/L balance in each company.
Payment processing has been designed for flexibility. Invoices may be selected for payment individually, by vendor, by vendor type, by due date, or by discount date.
Checks can, of course, be printed by the system. However, wire transfers, as well as handwritten check processing, are also supported. The A/P system also permits definition of multiple checking accounts, an invaluable feature in a comprehensive, multi-company package.
The Accounts Payable system also contains a Check Reconciliation package, which is used in conjunction with a bank statement to determine actual cash-on-hand. The package includes an inquiry program which lists outstanding checks for a specific vendor.
Multiple remittance addresses for each vendor. A single check is issued for all invoices being paid to each unique vendor/address.
Daily invoice entry reports, listing all invoices posted since the last daily update. Daily reports are produced by invoice, or by general ledger account number (in both detail and summary format).
A cash requirements report, which forecasts anticipated payable obligations based on a combination of invoice due dates and check processing dates.
An Accounts Payable Aging report, which uses flexible, user-defined aging buckets to classify payable obligations by invoice date.
Complete void check processing, including reinstatement of all invoices (and credit memos) covered by the check, as well as reversal of the cash-A/P transaction in the general ledger. Checks issued in prior periods may also be voided.
Standard year-end processing, including production of 1099 forms for all qualifying vendors.