Epicor’s Account Payable

Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make, then create payments for the invoices you want to pay. The system can generate payments for all invoices due, those for a particular supplier, or only for specific invoices. If a supplier calls you to discuss an invoice, you will have complete information at your fingertips and that history can be kept indefinitely.

Accounts Payable allows you to update both purchase orders in Purchase Management as well as actual job costs. Adjustments are created if the purchase price does not match the invoiced price. With Accounts Payable, you will know how much you owe and when it is due.

Record and post all payables instruments easily, including supplier or vendor vouchers and invoices, debit memos, automated check runs, and manual payments.

Create standard accounts payable invoices that recur on set dates.

Record and track your future-dated payment instruments, including GL movements, and enter their values for credit. Accurately manage payment of invoice due dates and terms and conditions. control purposes. You can also change their status as you need. A final tax transaction moves the tax from accrued to due at the time of final settlement or cash movement.

Through this functionality, you print a future dated payment instrument as part of the invoice, so that you can send it to the customer to sign and return it, or include it as part of the customer statement if the customer pays on a monthly basis.

Epicor supports all of the most common business practice terms and conditions within Accounts Payable and Receivable. This feature also affords great flexibility for the definition of  creative receipt and payments terms within countries where this functionality is not necessarily demanded but may offer a competitive advantage.

You can track or reuse voided or unused numbers or transactions that are not committed to a database. You are then accountable for all numbers and have no sequence gaps.

Print checks for select payments, or create manual checks.

Update jobs created in Job Management directly by material and subcontract costs entered through Accounts Payable.

Purchases may be made in any currency and goods received in any currency with support for the entry of an exchange rate at the point of payment entry.

Keep accounts payable transactions and supplier history files indefinitely.

Show online inquiries for open invoices, outstanding balances, and payment detail.

Automatically create and post general ledger entries from accounts payable transactions.

All payments are automatically available for bank statement reconciliation once posted.

View variances between planned and actual purchase price to allow cost adjustments and analysis.

Match invoice, receipt, and purchase order online.

Configure payment files for electronic submission to banks.