Processing of Checks Features and Functions

• Funds can be drawn from more than one bank


• Checks can be written from more than one bank


• User-selected check formats include printed check and EFT formats


• Suppliers can opt to receive a single check per invoice


• Users can select criteria such as supplier number, voucher number, due date, and discount date, to determine check sequence


• Check run can be recovered and initialized if there are printing problems


• Reconciles checks and accounts that are manually input


• Prints sequence of checks by supplier number or supplier number within a specific bank


• Prints sequence of checks by supplier name or supplier name within a specific bank


• Prints sequences of checks by ascending dollar amount


• Voids and replaces checks


• Automatically reverses distribution when a check is voided


• Uses void and replacement check numbers when bank activity is reconciled with account activity


• Invoices are automatically returned to the system if a check is voided


• Prints employee expense payments using a sequence distinct from vendor payments


• Automatically reconciles the bank account with the accounts payable payment history


• Processes cancelled checks


• Creates a report on all issued checks, including manually entered and voided checks


• Reports all the transactions of a vendor during a specified period


• Verifies that checks were written by approved personnel only


• Check number count before new check run


• Flags checks requiring attachments prior to mailing


• Prints checks requiring attachments at the beginning of a check run


• Sorts check runs based on dollar amount of checks


• Supports automated check reconciliation from the bank


• Supports the transfer of data of all cashed checks from banks


• Posts invoices being processed to one accounting period, but posts the check run to another accounting period


• Laser-printed checks


• Multiple banks and currencies


• Monthly check registers by bank


• Reinstates an invoice or cancels a check (still payable by the system)


• Voids an invoice or check (no longer payable by the system); reverses original distributions; and adjusts the outstanding check lists (while leaving a complete audit trail)


• Generates a manual check of an invoice already in the system as an open item waiting to be paid by a computer check--inputs a batch that will transfer the invoice from open item to paid status


• Electronic funds transfers and direct deposit for employees


• Procurement card processing