Prophet 21 Acclaim Preparing Your System for Payables Processing

Transcription

1 AP Suite: course 1 of 3 Prophet 21 Acclaim Preparing Your System for Payables Processing

2 This class is designed for Acclaim users responsible for determining and implementing how accounts payable are to be processed by their company

3 Overview This course will introduce the payables process and discuss how to tailor Acclaim Payables to meet business needs.

4 Objectives Describe Acclaim payables processing Manipulate the User options to process payables to suit your business needs

5 This course will NOT cover Payable entry Material receipt reconciliation Payable release and check printing Credit card payments Management reporting

6 Payables Process Enter vendor s invoice Reconcile material receipts Confirm Direct Shipment Entering a vendor s invoice creates an open payable Reconcile material receipts (if material has been received) If the PO was a direct shipment, the ability to confirm the shipment is also available

7 Payables Process Enter vendor s invoice Print Expense Journal Reconcile material receipts Confirm Direct Shipment The Expense Journal gives a detailed listing of vendor invoices, their dollar amounts, and GL account distribution

8 Payables Process Enter vendor s invoice Print Expense Journal Print Payables Due Report Reconcile material receipts Confirm Direct Shipment The Payables Due Report lists invoices that are due for payment, or those that will become due within a specified time period

9 Payables Process Enter vendor s invoice Print Expense Journal Print Payables Due Report Release Payables Reconcile material receipts Confirm Direct Shipment Unrelease Payables Select invoices which are due and release them for payment Payments can be unreleased if necessary

10 Payables Process Enter vendor s invoice Print Expense Journal Print Payables Due Report Release Payables Print Anticipated Cash Disbursement Report Reconcile material receipts Confirm Direct Shipment Unrelease Payables Release payments with the Anticipated Cash Disbursements Report All released payables (unprinted checks) shown

11 Payables Process Enter vendor s invoice Print Expense Journal Print Payables Due Report Release Payables Print Anticipated Cash Disbursement Report Print Checks & Check Register Reconcile material receipts Confirm Direct Shipment Unrelease Payables Void Checks Print checks for payables that have been released Each check printed is recorded on the Check Register Checks can be voided if necessary

12 Payables Process Enter vendor s invoice Print Expense Journal Print Payables Due Report Release Payables Print Anticipated Cash Disbursement Report Print Checks & Check Register Print Unreconciled Check List & reconcile checks Reconcile material receipts Confirm Direct Shipment Unrelease Payables Void Checks Cancel reconciliation Reconcile your bank statement to checks on the Unreconciled Check List The Unreconciled Check List lists those checks that have not been reconciled Checks can be unreconciled if necessary

13 Payables Process Enter vendor s invoice Print Expense Journal Print Payables Due Report Release Payables Print Anticipated Cash Disbursement Report Print Checks & Check Register Print Unreconciled Check List & reconcile checks Purge committed history Reconcile material receipts Confirm Direct Shipment Unrelease Payables Void Checks Cancel reconciliation History of payable stored in system until purged

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15 When entering a vendor s invoice, which of the following can NOT be performed? 1. Confirm a direct shipment 2. Reconcile material receipts 3. Release payables if due 4. Arrange for a recurring invoice

16 Application Share Getting to the Payables module Payables menu and submenus

17 User Options Tailor Payables to meet your business needs Control how Payables functions Determine defaults if specific data is not entered Eliminate the need to respond to repetitive prompts

18 User Options Vendor/Branch Defaults Vendor Defaults Branch Defaults Group Defaults Company Options

19 User Options

20 Company Options - Group Processing Will payable group processing be used? A branch or combination of branches constitutes a payables group YES: NO: Group processing is used Payables separated by group Payables processing can only be done for your group Company-wide processing is used Payables processing can be done for any branch

21 Direct Bill Do your vendors bill your customers for direct shipments? YES: do not create a customer invoice when a direct ship PO is confirmed NO: create a customer invoice when a direct ship PO is confirmed

22 Unique Entry ID Is a unique Entry ID required when entering payables? Entry IDs are used to identify & group a batch of payables YES: NO: payables must be entered with a non-existing Entry ID payables may be entered with an existing Entry ID

23 Entry ID Specify a default Entry ID to be used company-wide

24 Check Reconciliation Should checks be reconciled? YES: NO: Unreconciled Checks List is provided to reconcile against your bank statement Unreconciled Checks List is not available

25 Check Stub Detail Report Should check details that do not fit on the check stub print on a separate report? YES: NO: print all details, that do not fit on the first check stub, on a separate report, the Check Stub Detail Report print all details, that do not fit on the first check stub, on the next check stub

26 Print Options on Checks Should any of the following print on a payables check? Company Header Check # Memo Address Country

27 Check Format Which check format should be used? A: formatted for a 7 3/4-inch check B: formatted for a 7-inch check

28 Application Share Ensure that Address 3 and Country print on checks

29 Invoice During Receipt Should an invoice be generated when material is received? YES: NO: an invoice will be automatically generated at material receipt time all payables are entered through PAYABLES module

30 Allow Duplicate Invoice #s Are duplicate invoice numbers allowed? YES: NO: informational DUPLICATE message displays Vendor invoice# already in use; please enter a unique invoice#

31 Comment # What is the default comment number? Comment numbers are user-defined and used to classify types of payables.

32 Federal ID What is your Federal ID number? This will be used throughout the system and on 1099 forms.

33 View Material Receipts Should the View Material Receipts option be enabled? This option allows you to see detailed information about items that have been received against a PO. YES: enable this option NO: do not enable this option

34 Material Reconciliation Will you be reconciling material receipts? Reconciling material receipts accounts for any discrepancies between the value of material received against the PO and the value of material billed on the vendor s invoice YES: receipts will be reconciled NO: receipts will not be reconciled

35 Reconcile Amount Which amount, Invoice or Net, should be reconciled? Invoice: Net: Total on vendor s invoice, includes freight and other charges Total of inventory only

36 Invoice, Receiving, & Item Variances What are the acceptable variance limits? Material reconciliation can be done on the invoice, receiving, or item level. For each level, you must specify what variance is acceptable.

37 Release Unreconciled Payables Can an unreconciled payable be released for payment? YES: unreconciled payables may be released for payment NO: unreconciled payables may not be released for payment

38 Auto Reconcile When entering an invoice, should the system automatically reconcile? YES: NO: system will attempt to reconcile, if a variance is found, you must manually complete the reconciliation must reconcile manually, system will however automatically place you in the Reconciliation screen

39 Reconcile Method What do the amounts in the Invoice, Receiving, and Item fields represent? Amount: represent dollar amounts Percent: represent percentages

40 EDI Info Auto EDI Payables: Enable the automatic hands-off payable generation? EDI account direction: Direct the mapped charges into separate default accounts?

41 Zero Cost Var Desc Zero Cost Var Desc: Specify a variance description for zero cost nonstock items

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43 Each branch is responsible for only their own payables processing, including invoice entry, releasing payments, and printing checks. Which type of payables processing should they use? 1. Company-wide 2. Group 3. Individual

44 Company Default GL Accounts Access from the Company Defaults screen by pressing [F6] Default ledger accounts must be set up to process payables

45 Company Default GL Accounts Cash -credited when checks are cut

46 Company Default GL Accounts Inv/Service - Debited when payable is entered, credited when vendor return is entered

47 Company Default GL Accounts Nonstock & DS - Debited when payable is entered

48 Company Default GL Accounts Defaults - Debited/Credited with difference between invoice amount and inventory amount

49 Company Default GL Accounts Discount - Debited when payable is entered/credited when a check is printed that takes a discount.

50 Company Default GL Accounts A/P- Credited when payable is entered Debited when checks are cut or when a Vendor Return is entered

51 Company Default GL Accounts Discrepancy - Debited/Credited when discrepancy is entered

52 User Options Vendor/Branch Defaults Vendor Defaults Branch Defaults Group Defaults Company Options

53 Group Default GL Accounts Must be set up if payables group processing is used Set up exceptions only Company defaults will be used for any accounts not assigned here

54 User Options Vendor/Branch Defaults Vendor Defaults Branch Defaults Group Defaults Company Options

55 Branch Defaults The default Entry ID is used for invoicing during material receipts when Invoice During Receipt is set to Yes

56 Branch Default GL Accounts Set up exceptions only Group or company defaults will be used for any accounts not assigned here

57 Application Share Assign a default cash account for Branch 2

58 User Options Vendor/Branch Defaults Vendor Defaults Branch Defaults Group Defaults Company Options

59 Vendor Options Menu Consists of Vendor defaults, Vendor GL account defaults, and Vendor/Branch GL account defaults Can edit and fast edit all

60 Vendor Defaults Data specified here will override data from Company Options Exceptions to the rule

61 Initial Release Status When payable is entered, what is the status? Ready Auto-Hold Hold Rel Hold Exp Payable ready to expense and release Payable must be edited & manually released (can NOT auto-release the payable) Payable on hold will expense but will NOT release Payable on hold will not expense or release

62 Status After Reconciliation After payable is reconciled, what is the status? Ready Auto-Hold Hold Rel None Payables is ready to be released Only payables that had Hold Rel or Hold Exp can have this status. In order to release this payable, the field has to be manually edited Only payables that had Hold Exp can have this status. It will expense, but it will not release until edited. Same as initial status

63 Comment # Do you want a different comment # for this vendor? This provides another way to group your vendors. This field is available throughout payables as parameters in reports and when releasing payments.

64 Override Company Defaults Should variance limits specified in the Vendor Defaults be used? YES: use variance limits in Vendor Defaults NO: use variance limits in Company Options

65 Reference A user-defined field used to group like vendors together. This can be used to control payables release.

66 1099 Box/Federal ID/1099 Type 1099 Box: indicates in which box information prints on the 1099 form Federal ID: vendor s taxpayer ID 1099 Type: Miscellaneous or Interest

67 Vendor Default GL Accounts Default accounts for a vendor at any branch Set up exceptions only Branch, group, or company defaults will be used for any accounts are not assigned here

68 Vendor/Branch Default GL Accounts Default accounts for a vendor at a branch Set up exceptions only Vendor, branch, group, or company defaults will be used for any accounts are not assigned here

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70 The following default GL accounts are set up: 1. Company A/P account: Branch 2 A/P account: Vendor Jones Pipe A/P account: Branch 2 Vendor Jones Pipe account: If a payable for Jones Pipe is entered in Branch 1, which A/P account will be credited?

71 Application Share Set a vendor s variance limits to: Invoice = 2.00 Receipt = 1.50 Item = 0.50 Access the Vendor Default GL accounts and the Vendor/Branch Default GL accounts

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73 Summary Overview of Acclaim payables processing User options can be tailored to suit your business needs Company Options Group Defaults Branch Defaults Vendor Defaults Vendor/Branch Defaults

74 For More Information Acclaim Help Files Visit Activant on the web: View Educational Services course offerings Browse Documentation Search the Solutions database Submit a Support case Professional Services Sales pss@activant.com

75 What s Next Payables Processing Create and editing payables Confirm direct shipments Process credit card payments Payables Check Processing and Management Reporting Process checks Print, void, and reconcile checks Print and review reports/journals Identify management reporting capabilities