Accounts Payable

Use Accounts Payable, part of the Accounting application, to perform payables-related processing and reporting.

• Enter and post accounts payable vouchers.

• Process payments.

• Produce accounts payable checks.

• Make vendor payments by electronic funds transfer (EFT).

• Create text (.txt) files that contain check payment information.

• Review accounts payable vendor and voucher data.

• Process 1099 forms.

As you receive vendors' invoices, you enter the invoice data in accounts payable voucher files and post the files. Then you generate checks to pay your vendors. You can process payments for all approved vouchers either as a batch, or by manually selecting the vendors or vouchers to pay. You can print a separate remittance advice to accompany each check.

The Accounts Payable application includes:

• Transaction Entry and Posting — In the Transaction Center, you create, edit, and post accounts payable voucher and accounts payable disbursement files.

• Vendor Review — In Accounts Payable Vendor Review, you view and confirm vendor address and discount information, as well as voucher details. You can also confirm that a payment was issued, and see the payment date and check number.

• Payment Processing — You can process payments either automatically (all vouchers due to be paid are automatically selected for payment) or process them manually (you individually select the vouchers to pay). When you process a payment, Vision records the voucher as being paid.

• Electronic Funds Transfer — When you process Accounts Payable payments, you can create electronic funds transfer (EFT) payments. You specify the file format used by your financial institution. Payments are made directly to your vendors' bank accounts; you do not produce a check for the payment. After you create EFT payments in A/P Payment Processing, you process them in Accounting > Accounts Payable > EFT.

• Export to Text Files — Use the Export to Text feature to create a text (.txt) file that contains check payment information that is processed by a third-party software application. You use this feature if a third party prints checks for your company or if you must import check information into banking software. You specify the file's format in Configuration > Accounting > Bank Codes.

• Create Voucher From Purchase Order — You can create a voucher from a purchase order, if you use the Vision Purchasing application.

• Form 1099 Processing — You must provide a 1099 form at year end to consultants to whom you paid the amount specified by law. The 1099 form shows the amount paid by your firm to the consultant. Use Form 1099 Processing to review and modify 1099 data, and then generate the forms.