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Accounts Payable

The Info.Net Accounts Payable Module controls all Accounts Payable functions. This listing explains processes covered in this module.

- Vouchering
- Selecting Invoices for Payment
- Creating and applying Debit Memos
- Printing Checks
- Manual Checks
- Employee Expense Checks
- Closing a A/P Period

Whitepapers covering these subjects are listed at the bottom of this page.
Placing your cursor over any of the features listed below, will give you more information about the subject.

Three Way Vendor Invoice / Receiver / P/O MatchingThe entry of accounts payable vouchers can be performed based on matches to available purchasing receipts. Or voucher entries can be made without reference to receipts. If the matching technique is used, all of the relevant data from the purchasing receipt and purchase order will be carried into the potential voucher, although the user will still have the opportunity to make revisions in the receiver data.

Recurring Payment / Interest DefinitionsRecurring payment definitions can be defined with or without interest values. The recurring payment includes the number of payment periods, and the user can enter the period payment or the program can calculate the payment. If an interest bearing payment is defined, a specific beginning and ending payment amount can be entered and the program will compute the payment amount for the balance of the payments based on the user entry of the interest percentage and the total payment amount.

Check PrintingThe accounts payable payment process will select all vouchers available for payment, and if approved for payment, the vouchers will either be paid through the printing of a manual check (tailored to the users specifications) or will be paid through an E-payment process. The type of payment to be made will be found in the remit vendor‘s definition.

Electronic PaymentsBoth remit vendor definitions and employee definitions include banking routing data that will enable electronic payments to be made. There are also two types of bank account definitions that permit the definition of internal bank accounts to be used for internal payments and bank accounts that are available to receive direct electronic deposits.

Debit MemosDebit memos can be created manually or they will be created automatically when material is returned to vendors (RTV) or scrapped for credit. The debit memo will then appear in automatic check runs as a credit against the vendor owed balance and will be used to calculate the final vendor payment values.

Voucher / Payment Edit TrackingVarious fields in accounts payable vouchers and payments can be revised, but if required, these edits will be tracked in an edit table indicating the old data, the new data and a reason code entry that will be used to categorize the edit.

Cash Requirements ForecastingAccounts payable reports are available to be used to review projected cash requirements over a user defined time horizon. These reports show all vouchers that are open or on temporary payment hold.

You also have the option to include all vouchers or place them on an indefinite hold. The report shows all vouchers due by a specified date. A summary report will show the total dollars required by day. A detailed report will show the total dollars by day, and break out the dollars by voucher.


Automatic and Manual ChecksAlthough checks will normally be created through the automatic check process, the user also has the ability to create manual checks. The automatic check process consists of a routine that collects those vouchers due for payment, then permitting the user to edit this collection and to run cash requirement forecasts before actually printing the checks.

The manual check process permits checks to be created for previously defined remit vendors, or to define payments to individuals or companies not found in the vendor database, without reference to specific preexisting vouchers.


Payment AuthorizationsIf required, all accounts payable payments over a user specified amount will require an authorization by an employee with an approval level high enough to approve the specific payment. This authorization requirement also applies to expense account payments.

Banking ControlTo provide control over available cash, the user may elect to also make banking control available in the accounts receivable functions. If both payables and receivables are using banking control, bank balances will be maintained by the system.

There are two types of banks and bank accounts that can be defined; the first will be used for internal functions, accounts payable and accounts receivable procedures – and the second type of bank account will be used for external procedures, as in employee or vendor electronic direct deposits.


Vendor and Vendor Class AnalysisAn analysis of individual vendors or vendor classes is available in both a data format and in a graphic format bracketed by user specified dates. The analysis includes historical purchasing values, purchasing variances, purchases by purchased item class, on-time receipt history, accounts payable history and payment history. Additional purchasing and accounts payable analysis based on purchase order classes, purchased item classes and buyer code are also available.

Automatic Vendor Warranty PaymentsIf a vendor is supplying one or more warranties for an inventory item, the available warranties can be defined as a part of the item’s vendor approval record. If a separate payment is required to maintain the warranty, the A/P payment vouchers can be automatically created.

Vendor CapacityIf vendor subcontracting is in use in a production environment, the vendors will be seen as production departments (or work centers) in the user’s production definition. As the production routings will define vendor operations with the same parameters as used in the internal routing operation definitions, the vendors capacity can be seen with the same level of clarity as will be seen for the internal operations.

If finite planning is being used, a definition of the vendor’s production assets will be required, including the number of available production workers and the capacity of the available tools and machines


Individualized Proactive Status Reporting / MessagingThe alert feature is a proactive tool that allows individual users to set predefined limits and/or goals to proactively manage all facets of your business operations. It operates by notifying specific users when a predefined limit has been reached. Any user, given valid security, can establish any number of alerts to be checked against values extracted from the various system tables.

The INFO.NET system includes a series of predefined alerts, which may be assigned to individual users for their own specified limits. In addition to the basic deliverable defined limits, custom alert calculation routines may be created through an arrangement with the user’s INFO.NET representative.


Business Process ControlA controlled business process is a defined series of steps required to complete a (typically manual) task, such as the approval of a purchase order or an engineering change. Each process step must refer to a previously defined department but can additionally specify any number of employee or equipment resource classes required in the process, and can reference specific employees and employee supervisors for notification of a process sequence’s initiation.

During normal use, a business process will be automatically generated by the INFO.NET system based on the definition of a type of, for example, a sales order, an accounts payable voucher or an engineering change. But business processes may also be manually created without reference to any INFO.NET data element.


User Defined Data / ScreensIn several hundred of the system data tables, the user has the ability to use the system data dictionary to define up to sixteen additional data fields (four integers, four decimals, four dates and four alpha entries). The data dictionary permits the user to define edit rules for the new data and descriptive labels for use in queries, reports and data edit screens.

 
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