Accounts Payable

The PSO Solution has a fully integrated Accounts Payable (A/P) module.

The module is preconfigured, but you typically make relevant changes to this configuration during the implementation, for example, to set up correct payment terms, vendor groups, currencies, countries, and so forth.

In the A/P module, the Finance Department can handle the following processes:

• Set up template vendors to be used when creating vendors.
• Set up approval hierarchies for new vendors and changes to vendor data.
• Handle requisitions and purchase orders as described in the Improving Project Management section.
• Set up approval hierarchies for vendor invoices to comply with company purchase policies.
• Enter and post vendor invoices including pre-entered invoices.
• Reallocate vendor invoices.
• Reconcile vendor invoices against manual payments.
• Print standard reports for balance and aging lists, as well as open vendor entry statements.
• Look up vendor entries.