Accounts Payable

Use the Accounts Payable application to perform payables-related processing and reporting.

• Enter and post accounts payable vouchers.
• Process payments.
• Produce accounts payable payments.
• Make vendor payments by electronic funds transfer (EFT).
• Create text (.txt) files that contain 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 payments 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.

The Accounts Payable application includes:

• Transaction Entry and Posting: Use the Transaction Center to create, edit, and post accounts payable voucher and accounts payable disbursement files.
• Vendor Review: UseAccounts Payable Vendor Review to view and confirm vendor address and discount information and voucher details. You can also confirm that a payment was issued and see the payment date and 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, DPS records the voucher as being paid.
• Electronic Funds Transfer: When you process accounts payable payments, you can create electronic funds transfer (EFT) payments. 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 AP Payment Processing, 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 payment information that is processed by a third-party software application. Use this feature if you must import payment information into banking software. Specify the file format in Settings > Accounting > Banks.
• Create Voucher From Purchase Order: You can create a voucher from a purchase order, if you use the DPS Purchasing application.
• Form 1099 Processing: You must provide a 1099 form at year-end to the consultants who work for you. The 1099 form shows the amount paid by your enterprise to the consultant. Use Form 1099 Processing to review and modify 1099 data and generate 1099 forms.