Journal Invoice Process Features and Functions

• Prepays vouchers or makes payment with manual checks


• Online entry and processing of vouchers, with views for purchase order information, receiving document information, and credit memo information


• Three-way matching for invoice, order, and receipt information (automatic and accommodates tolerances)


• Multiple vouchers for a receiver or creditor


• Uses classification codes to group transactions


• Multiple vendor sites can be used on a voucher, including different addresses for shipping and remitting


• Calculates purchase price variance by comparing the purchase price per item against standard cost


• Books and reports purchase price variance in instances of discrepancy between projected and actual costs


• Tracks and maintains vouchers that may not be discounted


• Suspends payment for a voucher and records amount due


• Establishes recurring voucher payments


• Tracks payment- and discount-related information


• Uses vouchers to select which items will be paid


• Releases all invoices in a date range as indicated by the voucher record discount pay date


• Pays all invoices on the open item listing, or all invoices up to and including a particular voucher number for a vendor or a range of vendors


• Periodic expenses, which do not have an invoice, or where the invoice covers consecutive periods, can be set up as individual vouchers for each period


• Online view of voucher's dollar value before release


• Debit and credit memos can be specified for an invoice or account


• Automatically accrues vouchers as they are released


• Automatically calculates month-end accruals posted to the journal voucher and reverses transactions that are not invoiced


• Accrual-basis accounting for recognizing revenue


• Validates account code data online


• Provides report of each transaction by voucher


• Reports transaction details of accounts payable invoices posted to the G/L account


• Links invoice number to G/L journal number


• Designates G/L entities on A/P transactions


• Automatically creates an intercompany billing report to show transaction details


• Voucher aging by voucher dates or effectivity dates


• Sorts open invoices by expected payment date to project cash requirements


• Calculates discrepancy between discounts and cost of capital


• Sorts open invoices by expected payment dates when the voucher is processed, and corrects discrepancies


• Automatically calculates accrued amounts of inventory, materials, and equipment liability at month-end


• Multiple open periods--year-end


• Payments can be made from multiple banks


• Multiple companies can be aggregated, with one company designated as the paying company