Processing of Payments Features and Functions

• Queries online accounts' voucher histories and analyses of payment histories, late payments, and cash discounts


• All transactions pertaining to a particular vendor are assigned to a user-specified account


• Users can specify complex payment discounts for a payment period by using term codes, such as "step down"


• Cancels or suspends standard vendor terms


• Assigns dates and standard number of days to credit or discount terms


• Automatically calculates discounts based on vouchers and terms of credit


• Automatically calculates discounts


• Automatically calculates net payment, incorporating discounts and discount dates


• Automatically calculates lost discounts resulting from late or unrealized payments


• Overrides discount amounts


• Allocates freight costs at distribution line level to a company or division


• Allocates sales tax at distribution line level for a company or division


• Posts sales tax to user-specified account


• Sets frequency of recurring payments


• Recurring payments can be set on weekly, monthly, quarterly, annual, or semi-annual basis


• Recurring payments can be set at irregular intervals


• Payment holds based on the performance of vendors


• Procedure to pay employee trip advances on a per-trip basis


• Accepts invoices without a PO


• Skeleton voucher containing standard recurring information


• Queries open and closed payables


• Online view of vendors with current unpaid balances


• Processes credit card payments


• EFTs


• Payments may be processed even when an invoice does not exist


• Partial payments


• Prepayments


• Archive program or routine identifies and saves all closed payments and receipts that have not been vouchered


• System security based on organizational and legal entity control


• Automatically generates PO number


• Navigates directly to a specific invoice (for example, by double-clicking on listing)


• Tracks status of document (invoice and PO) and to whom it has been sent


• Provides summary and aged listing of documents or invoices sent to a department (date based on invoice date, date routed, and date sent)


• Alerts users of outstanding action items


• Handles electronic transfer of PO information from any operational area


• Clearly identifies legal entity generating the PO document


• Multiple search criteria, including vendor, invoice number, and dollar amount


• Approves POs online


• Uses real time PO data


• EDI of purchase orders and invoices for select vendors


• Web-enabled activity, such as allowing employees to e-mail expense reports for processing


• Travel and entertainment reporting as well as verification by employees


• Posts invoices to future periods but pays them in the current period instead of holding onto them


• Back-end tax reporting for sales and use tax--a list of invoices processed during the month, which indicates the sales and use tax--input tax credit claimed


• Post only variance or adjustments to PO