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Accounting module

Accounts Payable

A complete system for recording liabilities, managing vendor obligations, preparing payments, and planning future cash requirements with confidence.

At a glance

Practical control over vendor liabilities and cash commitments.

The Accounts Payable system provides an efficient procedure for verifying and recording liabilities, paying obligations on time, and keeping current information available for management analysis and cash planning.

  • Vendor and open-item information is accessible at any time for reporting, inquiry, and updating.
  • Liabilities are automatically aged for clearer visibility into payment timing.
  • Cash requirements are projected and available discounts are identified.
  • Invoices can be paid selectively based on vendor, due date, or current priorities.
  • Cheques are prepared automatically to support efficient disbursement processing.
  • Timely reports support management review, planning, and control.

Key advantages

What the payables system gives you day to day.

Three areas where an organized payables process pays back the effort — visibility into what is owed, control over when it is paid, and reporting that keeps management informed.

  1. Vendor visibility

    Maintain vendor records, open items, and payment details in a form that is easy to review, update, and monitor.

  2. Cash planning

    Project cash requirements, identify discounts, and manage payment timing more effectively.

  3. Management reporting

    Generate timely reports that support financial analysis, operational review, and planning.

Features

Core capabilities of the Accounts Payable system.

Built to help organizations verify liabilities, manage vendor obligations, prepare payments efficiently, and keep decision-makers informed.

Vendor records & file maintenance

  • Maintains vendor name and address, contact information, phone number, vendor number, payment terms, and due-day settings.
  • Tracks discount percentages and year-to-date purchases in the vendor file.
  • Supports creation and maintenance of vendors limited only by available disk space.

Liability processing & allocation

  • Verifies and records liabilities with current open-item information available for inquiry, reporting, and updating.
  • Automatically ages liabilities for clearer visibility into due dates and payment priorities.
  • Supports both cash and accrual accounting methods.
  • Allows expenditures to be allocated to specific profit centres and jobs.

Payments & discount control

  • Pays invoices selectively based on vendor, due date, or other current priorities.
  • Calculates and applies discounts automatically, with override options by selected vendor or selected invoice.
  • Prepares cheques automatically and supports MICR cheque printing.
  • Operates with one chequing account.

Reporting & cash planning

  • Projects cash requirements and identifies available discounts.
  • Produces open item reports for all accounts payable or for a specific vendor.
  • Generates aging reports by due date, purchase journals (voucher registers), and vendor lists.
  • Supports timely reporting for management review, planning, and control.

Commonly asked questions

Specifications and answers at a glance.

The questions asked most often about Accounts Payable capacity, controls, and reporting, with the short answers alongside.

Which accounting methods can be used for Accounts Payable?
Cash and accrual.
What is the maximum number of vendors that can be created and maintained?
Limited only by available disk space.
What is the maximum number of open accounts payable items?
Limited only by available disk space.
How many different chequing accounts can be used?
One.
What information is created and maintained in the vendor file?
Name and address, personal contact and phone number, vendor number, terms of payment, due days after invoice date, discount percentage, and year-to-date purchases.
How does the Accounts Payable system assist with cheque preparation?
It supports the preparation of an amount due report, prints the cheque including MICR encoding, and produces a disbursements report.
Can prenumbered cheques be used with the software?
No
Can the software calculate and apply discounts automatically?
Yes
If the system calculates a discount automatically, can that discount be overridden?
Yes
How can the discount be overridden?
By selected vendors or by selected invoices.
Can expenditures be allocated to specific profit centres?
Yes
Can expenditures be allocated to specific jobs?
Yes
What reports can the Accounts Payable system produce?
  • Open item reports for all accounts payable
  • Open item reports for a specific vendor
  • Cash requirements reports
  • Aging reports by due date
  • Purchase journals (voucher registers)
  • Vendor lists
Can a prepayment report comparing different payment schemes be produced before printing cheques?
No

Accounts payable software

Want to discuss vendor management and payment control?

Speak with Polymathic Group about Accounts Payable workflows, reporting requirements, and integrated accounting solutions.

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