StreamV Accounts Payable is an on-line, real-time system that is fully integrated with the General Ledger, Purchasing, Receiving, and Return to Vendor systems.
The Accounts Payable programs automatically feed the General Ledger with the subsidiary information needed to provide a current and complete financial picture of your company. The AP System allows for efficient management of cash, and effective control of expenses, and reduces the manpower required to process accounts payable transactions.
The Accounts Payable system includes streamlined data entry programs that support both automated and manual invoice entry and payment processing. The AP system also includes multiple lookups and reports that provide detailed and accurate information about current liabilities and all accounts payable transactions.
The primary business processes that can be performed using the Accounts Payable System include:
• Vendor Invoice Processing The AP System allows you to process vendor invoices in an efficient and highly automated manner. The system allows you to process vendor invoices for inventory purchases and invoices for other costs and expenses.
• Image and Comment Management StreamV Accounts Payable includes extensive imaging and text note management features. Accounts payable invoices and other information can be scanned into the system and automatically attached to the appropriate invoices. Documents, images and other files, and text notes can also be attached to vendors or invoices. Security options allow the information to be managed and restricted based on company policies.
• 3 Way Matching of Vendor Inventory Invoices The Accounts Payable system allows you to keep a tight control on purchases by supporting 3 Way matching of inventory receipts to the associated purchase order and invoice records, and by automatically distributing invoices to the appropriate GL accounts. Invoices for inventory purchases are processed by tagging the appropriate receiving records, and quantity, price or other variances and recorded when the invoice is saved.
• Scheduling Open Invoices for Payment Accounts Payable options allow you to easily manage the scheduled payment dates of the open vendor invoices in your system. The Paydate field in each invoice, and the vendor and invoice types associated with each document can be used (along with other selections) to automatically schedule payments of your open invoices. The paydate for each invoice is defaulted during entry based on a system wide or vendor specific policy, and the paydates for open invoices can be modified as required using the Paydate Management program.
• Processing Payments The AP System allows you to quickly process manual (handwritten, or single vendor payments), and computer generated payments against open vendor invoices.
• Applying Open Vendor Invoices and Credit Memos The AP system allows you to apply open positive and negative invoice amounts against each other. This action can be completed when a payment is being created for the vendor, or the invoice balances can be offset against each other using an Apply Credit Memo option in the Vendor Invoice Lookup
• Reviewing Vendor Invoice and Payment Activity The StreamV AP System, and other parts of the StreamV system allow you to quickly review accounts payable invoice, payment and other related information. The vendor company, journal entry detail, inventory transaction activity, images, comments and other information associated with each AP invoice in the system are readily accessible from the several of the Lookup and Entry programs in the system.
• Producing Accounts Payable Reports The Accounts Payable System allows you to generate accounts payable reports using standard report programs or dedicated AP and Vendor SQL Query programs. Reports can be run to display, to file, or printed. Report output can also be automatically exported to excel.
• Standard reports include reports of open vendor invoices such as the Open and Aged Accounts Payable reports, reports that are used for payment processing like the Cash Requirements and Proposed Disbursements reports, AP and Cash Disbursements Journal reports, and reports that are used to analyze accounts payable activity such as the AP Transaction History by Vendor. The AP and Vendor Query programs allow you to run the standard queries that are delivered with the application or create custom reports to meet your needs.