Real Vendor Invoice Dates Feature
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Overview |
A feature has been added to the Accounts Payable System to enable you to transform estimated expenses into actual expenses. Upon receipt of your vendor’s invoice, you can now · Enter the actual invoice date, · Recalculate the due date based on the vendor’s terms, and · Enter the actual amount owed to the vendor. · In addition, authorized users are able to flag invoices as “approved” for payment to the vendor. (Note: authorized users are established on Page 2 of User Class Maintenance). This feature provides authorized operational staff with the ability to review and authorize payments for accounting. This feature works in conjunction with the A/P aging reports, inquiries, and check scheduling processes. The aging reports and inquiries will age by the actual vendor invoice date, if one has been entered, and the actual vendor invoice amount will become the balance due. Approved items will be denoted by an “A” printed or displayed after the payment date. The Cash Requirements Report can then be run for “approved” items only. The Check Scheduling by Vendor/Date program can be run for only “approved” items, as well. When checks are scheduled, the actual amount will be used to create a final payment on the item and the appropriate G/L offsets will be automatically created. A secondary vendor invoice number has also been added for additional reference. This invoice number can be selected and reported in the inquiry and will print on the Cash Requirements Report. Additionally, the A/R inquiry has been enhanced to display
and print the customer’s check total when an Inquiry by Check is done
including “zero” items. The inquiry will now also display the customer’s FAX
number in the inquiry. The A/P inquiry will display and print the check total
when an inquiry by check is done including “zero” items. It will also display
and print the paid statement total when an Inquiry by Statement Number is
done. Both inquiries will now provide immediate access to the aging totals
and the total balance due. |
Vendor Invoice Approval screen:
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Overview |
The Vendor Invoice Approval program allows you to flag invoices as “approved” for payment to the vendor. This feature provides authorized operational staff with the ability to review and authorize payments for accounting. Note: Only authorized users are able to
approve invoices for payment. However, the program can still be used to
change billing dates, payment dates, and the actual amounts. (Users are
authorized to approve payments on Page 2 of User
Class Maintenance). Note: An item will not display on the screen if a check has already been applied to it. The following table describes the fields that can be
modified on this screen. |
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Field Name |
Data Entry |
Comment |
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Vendor Number |
This field allows you to select a specific vendor associated with the invoices you would like to approve. |
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Vendor Reference |
If you enter a vendor invoice number, only A/P records matching this vendor invoice number will be retrieved. Use this feature to quickly approve and verify an invoice. |
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File Number |
If you enter a file number, only A/P records matching this file number will be retrieved. Use this feature to quickly approve and verify an invoice. |
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Approved Control |
This is the total amount that you will approve. This control total will be checked against the approved totals. You will receive a warning message if the approved total exceeds this control total. |
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Vref |
This is the original vendor reference number entered at
the time of billing. |
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Vend Inv |
Enter a secondary vendor invoice number. |
This is a secondary vendor invoice number that can be used
in the inquiry and prints on the cash requirements report. |
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Invce Date |
This is the actual vendor’s invoice date. If you enter a new invoice date, the pay date (see below) will be adjusted based on the vendor terms. The invoice date is used to age open items. |
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Pay Date |
Enter a pay date or press ENTER to accept the calculated pay date. |
You may accept the default value to use the calculated pay
date or override the date. |
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Real |
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Amount |
This is the actual amount owed the vendor for this item. This amount will be used in inquiries and agings as well as check scheduling and entry. |
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Approved |
Only authorized users may approve items for payment. The Cash Requirements Report can be configured to print only approved items. This can also be used in the Check Scheduling by Vendor/Date process to schedule only approved items. |
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Note |
If an actual amount is entered or changed, the A/P file is
marked with who did the change on what date. If the item is approved, the A/P
file is marked with who did the approval and the date of the approval. |
A/P Inqury screen:
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A/P Inquiry |
2ndary Vend Inv field -- The secondary vendor invoice number can be used
to qualify the data retrieved by the A/P inquiry. This option is available if
an inquiry by vendor in date order or by invoice number is selected. Items
that have been approved through Vendor Invoice Approval are highlighted on
the Detail screen (see sample AP Inquiry Detail screen
below). |
A/P Inquiry Detail screen:
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A/P Inquiry Detail Screen |
Note
items number 13, 14, and 15: “A” displays between the Pay Date and
the Status columns for items that have been Approved for payment. |
Check Scheduling by
Vendor/Date screen:
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Check Scheduling by
Vendor/Date |
Check
scheduling of statements and by Vendor/Date provides the user with the
ability to schedule only “approved” items. |
A/P Report Parameters
screen for Cash Requirements Report (CRQ):
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AP Report Parameters
Maintenance - CRQ |
The cash requirements report can be configured to print
only approved items by entering Y in the field #05 Approved
Items Only on the Additional Criteria screen. |
