Accounts Payable

Manage liabilities and payments for goods and services. Track money owed, available discounts, due dates, and cash requirements. Access reports anytime, anywhere using a web browser. Manage vendor invoices, automate payment processing, predict cash requirements, track vendor balances, optimize available discounts, and deliver vendor reports.

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Vendor Prepayments – Enter prepayment requests, issue prepayments, and apply prepayments to invoices as they are received. Prepayment balance is kept separate from the regular payable account.
Use, VAT, and Withholding Tax Support – Automatically calculate Use and VAT taxes and prepare tax filing reports. Assign a default tax zone to each vendor. This default can be overridden during invoice entry. Tax calculation can include multiple tax items per document line, deduction of tax amount from the price, and tax on tax calculation. Acumatica also supports Withholding tax calculations.
Prepaid Expense Recognition – Assign a deferred expense schedule by AP line item. Automatically split payments between the prepaid account and expense accounts.
Payment Approval Process – Automatically approve for payments or follow an approval process to prioritize or delay payment, choose an account to pay from, or select a payment method.

Additional Features:

Multiple Accounts in General Ledger

Link groups of Vendors to specific payable accounts in the General Ledger. Default accounts can be overridden during Bill or Payment processing. Acumatica automatically offsets the correct account when the payment is applied.

Multiple Currencies Support

Issue or accept invoices in a foreign currency. The system will automatically apply the effective currency rate and make the translation. Currency triangulation and realized gain/loss calculations are automatic. Unrealized gains and losses can be calculated through a balance revaluation process.

Recurrent Account Payable Documents

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 Refunds

Vendor Refund documents debit a cash account and debit a Payable Account. Apply a refund toward a Debit Adjustment or Prepayment.

Accounts Payable Aging Reports

Customize your Accounts Payable aging categories and create a full set of aging reports including total outstanding, past due, cash requirements, and vendor performance.

1099 Reporting

Accumulate 1099 information for any designated vendor. Track 1099 payments and produce the appropriate 1099 reports.

Vendor Account Security

Control access by specifying which individuals and roles can view and modify vendor account information and balances, restrict sensitive vendor information.

Audit Trail

Maintain a complete audit trail of all transactions. Documents cannot delete or canceled. Correct mistakes using correcting or reversing entries. Acumatica captures 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.

Cloud Accounting

Access your account and process accounts payable from any web browser.

Dynamic Approval Process

Allow certain accounts and users to automatically get approval, while setting others to require approval.

Acumatica does deliver – The Connected Business, Rapid Integrations, Remote Collaboration, Business Resilience, and all Delivered on a Future Proof platform.

Accounts Payable