Accounts Payable in detail

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Payables invoicing

FinancialForce Accounting can handle payable invoices received in any format - whether by paper, email, electronically or via Microsoft Excel. Invoices received electronically, or via Microsoft Excel, can be brought into FinancialForce Accounting automatically, without any rekeying - saving time and ensuring accuracy. The system generates a unique identifier for each invoice, to allow traceability throughout the system.

Payables credit notes

A payable credit note is your record of the sales credit note issued by a vendor to show evidence of a refund or discount. You can enter the information provided on your vendor's credit note including the products, quantities and prices paid for goods or services that have been returned or retrospectively discounted.

Vendor management

FinancialForce Accounting adds a whole new dimension to the information at the fingertips of your vendor-facing staff, by giving them a real-time view of a vendor's account, including recent invoices and payments, payments outstanding and accurate credit limits and terms. They can see how much money you owe your vendors, which ones are owed the most, how soon your balances will be due, and how long some of these balances have been outstanding. The standard salesforce.com account object has been extended to allow you to store the additional vendor details, such as bank details and credit terms, required to support vendor payments, either by check or electronically.

Payment processing

The latest release of FinancialForce Accounting introduces a quicker, more streamlined way to pay your vendors or collect from your customers. If you specify a reusable payment template, the whole process from account selection to payment and matching takes place within just a few clicks. Settlement discounts, if any, are automatically calculated based on the payment date and the credit terms in force when the documents that generated each transaction were posted.

Check printing

FinancialForce Accounting supports both electronic vendor payments and payments by check. You can customize the format of your printed checks by using the FinancialForce Print Formatter application. Checks numbers are automatically allocated by the application and a record is kept of spoiled or void check numbers in the active check number range.