Accounts Payable

Create and post payable invoices and credit notes into your general ledger, process vendor payments, print or email remittances.

Streamlining the Invoice to Pay process

FinancialForce accounts payable leverages the full power of the FinancialForce accounting engine and the Saleforce.com CRM platform to deliver efficient payment processes, appropriate accounting controls, real time cash management and advanced vendor relationship management.

As part of the FinancialForce single ledger, accounts payable transactions are reflected in real time across the application. Invoices, credit notes, and payments are all reflected immediately in your books and instantly available for analysis. Real time postings are particularly powerful if cash planning and cash conservation is an issue for your company.

The application is also designed to help reduce keying, data entry errors and unnecessary expense reclassifications. In fact, the system allows you to eliminate data entry and paper altogether by using your choice of electronic invoicing formats.

Accounts payable utilizes the major components of the FinancialForce accounting engine which includes advanced functionality for global tax handling, multi-currency, multi-company and financial analysis. And because the FinancialForce vendor record is an extension of a Salesforce CRM account object, the full power and tools available in CRM are available to track conversations, deal with disputes and manage relationships with your vendors.

Finally, accounts payable has full access to the most flexible chart of accounts available in the industry including project tracking, employee expenses, reimbursable expenses, fixed assets purchases etc. FinancialForce Accounting can help speed data entry by automatically generating general ledger postings based on the content of the invoice, your predefined rules and your chart of accounts design. This includes tracking invoice, supplier and account currencies, all simultaneously.

• Set vendor credit limits and credit terms by vendor account
• Record vendor bank details on vendor accounts so that you can pay them electronically
• Pay vendors by check or electronically
• 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
• Automatically calculate due dates and settlement discounts based on vendor terms
• Prevent the duplication of vendor invoice numbers on payable invoices
• Full audit trails of checks issued and those that have been spoiled
• Define a reusable set of default values used to generate a payment proposal
• Refine the payment proposal to exclude items under dispute
• Define your own check print formats

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 Accounts 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.

Read more about FinancialForce Accounting on our products page »