Invoice Process and Aging Features and Functions

• Creates miscellaneous distribution lines to record charges and invoices for items that do not have POs


• Validates vendor invoice numbers, with only valid invoices posted to the accounts payable ledger being scheduled for payment


• Option to pay invoices immediately


• An invoice that was entered in the system as a system check can be redesignated as a manual check


• No new vendors added at invoice entry (security)


• A/P aging report on outstanding items


• A/P due-date aging


• A/P invoice date aging


• A/P class code aging


• Inserts invoices for future periods


• Distributes invoices to different accounts within separate companies or locations


• "On hold" designation may be attributed to invoices in system


• Allocates cost to projects


• A/P system performs maintenance of all invoice information fields


• Currency and exchange rate defaults by vendor


• Paperless matching--match and pay without invoice


• Increases or accumulates, over time, vouchers and receivers that are not invoiced or are not recorded as a transaction


• Scanned invoice images available online


• Scans accounts payable invoices into system with option to drill down to view invoice


• Flexible invoice processing (e.g. one check from multiple invoices or multiple checks from a single invoice)


• Recognizes credit notes or cost adjustments made by user


• Links cost adjustment back to original invoice and ensures adjustment is tied to check or payment of the original invoice


• Handles a batch filing system--each invoice requires a cross reference number in the system as well as a vendor code


• Maintains at least four years of invoice details (current year and three prior years)


• Suspends, puts on hold for an individual vendor, individual invoice, and individual line


• Audit report for any changes to the vendor master file--should show the information before the change, indicate what was changed, who changed it, and what the new information is


• Sends or routes invoices to various departments for approval and on request produces a report by department that ages the invoices either by invoice date or date sent to department (i.e., tracks the status of a document and to whom it has been sent)


• Flags outstanding items


• Two-way invoicing or PO options by invoice, PO--on hold until received


• Three-way invoicing or PO options by invoice, PO, and receiving document match


• Invoice batch edits for checking data input prior to update


• Invoice inquiry supports search by dollar amount, invoice number, vendor number, vendor name, or alpha key


• Edits exist to ensure that sales and use tax is entered into the system


• Overrides sales and use tax at vendor level


• Currency and exchange rate overrides by invoice