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Accounts Payable

Revision as of 14:39, 28 March 2022 by Gelo (talk | contribs)

Accounts Payable

Allows the user to create a transaction for the amounts due to vendors or suppliers received that have not yet been paid for.

Requirements before using Accounts Payable
Accounts Payable Status
Accounts Payable Record Status
Status Description
UNPAID If there are no payments posted
WITH PARTIAL PAYMENT If there are any partial payments posted.
PAID If the payable is full paid and its Payment Voucher is Posted.
CANCELLED Accounts Payable is cancelled


Accounts Payable Record List
Financials - Accounts Payable - Record List.png


Adding Accounts Payable
  1. Go to Financials then Click Accounts Payable
  2. Under Accounts Payable Screen, Click Add Accounts Payable
  3. Fill out the necessary forms on the Header Section
  4. Fill out the necessary fields in the Account Details then click Save. Note: Fields with * are require fields
Financials - Accounts Payable - Add.png


Adding Import Purchase Order Field Information
Field Description Expected Values
1.Voucher No. •Voucher Reference number generated upon creation •Alphanumeric(Auto-Generated)
2.Supplier •Name of Supplier •Supplier List in the Supplier Maintenance Module
3.Tax Identification Number(TIN) •TIN of the Supplier •Number(Auto-Generated base from Supplier profile)
4.Terms •Number of Days on completing the purchase •Number
5. Address •Address of the Supplier •Alphanumeric(Auto-Generated based from Supplier details)
6.Proforma •Financial statements is to facilitate comparisons of historic data and projections of future performance. •Proforma list provided in the Proforma Maintenance Module
7.Attachment •Attachment as proof or any other remarks with regards to transaction •PDF/JPG/PNG File Type
8.Transaction Date •Date when the Payable Transaction was created •Date
9.Due Date •Due date of Payable Transaction •Date
10.Invoice No •Invoice number reference for the transaction •Alphanumeric
11.Reference No •Reference No for the transaction •Number
12.Currency •Type of Currency used in the transaction •Number
13.Exchange Rate •Currency Conversion Amount •Number
14.Notes •Other Remarks for the Transaction •Alphanumeric
15.Account •Account to be charged for credit and debit amount on the transaction •Account list in the Chart of Accounts Maintenance Module
16.Description •Any remarks or Notes in the Account Line of the transaction •Alphanumeric
17.Debit •Debit Amount for the Transaction •Number
18.Credit •Credit Amount for the Transaction •Number
19.Foreign Amount Currency •The conversion of the current amount into different currency •Number
20.Value Added Tax(VAT) •VAT to be applied in the amount on the accounting details in the transaction •Tick/Untick
21.Tax •Type of Tax to be applied when the VAT is ticked •Tax List provided in the Tax Maintenance Module


Notes:

  • Accounts Payable Transactions are auto-generated when created from Purchase Receipt,
  • Account should be on ACTIVE status when using it upon creating or editing a transaction.
  • Supplier should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Supplier Maintenance Module
  • Proforma should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Proforma Maintenance Module
  • Currency should be on ACTIVE status when using it upon creating or editing a transaction
  • Tax should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Tax Maintenance Module
    • This will be only available in the transaction when the VAT column is checked.
Viewing Accounts Payable
  1. Click Accounts Payable under Financials Menu
  2. Select an Accounts Payable record that needs to view its details. Click the drop-down arrow then click View.
  3. The user has an option to issue payment or to edit the Accounts Payable upon viewing if it is manually created.
Financials - Accounts Payable - View.png


Editing Accounts Payable
  1. Click Accounts Payable under Financials Menu
  2. Select an Accounts Payable that needs to update its details. Click the Drop-down Arrow then click Edit.
  3. Update the necessary fields then click Save.
Financials - Accounts Payable - Edit.png


Adding Import Purchase Order Field Information
Field Description Expected Values
1.Voucher No. •Voucher Reference number generated upon creation •Alphanumeric(Auto-Generated)
2.Supplier •Name of Supplier •Supplier List in the Supplier Maintenance Module
3.Tax Identification Number(TIN) •TIN of the Supplier •Number(Auto-Generated base from Supplier profile)
4.Terms •Number of Days on completing the purchase •Number
5. Address •Address of the Supplier •Alphanumeric(Auto-Generated based from Supplier details)
6.Proforma •Financial statements is to facilitate comparisons of historic data and projections of future performance. •Proforma list provided in the Proforma Maintenance Module
7.Attachment •Attachment as proof or any other remarks with regards to transaction •PDF/JPG/PNG File Type
8.Transaction Date •Date when the Payable Transaction was created •Date
9.Due Date •Due date of Payable Transaction •Date
10.Invoice No •Invoice number reference for the transaction •Alphanumeric
11.Reference No •Reference No for the transaction •Number
12.Currency •Type of Currency used in the transaction •Number
13.Exchange Rate •Currency Conversion Amount •Number
14.Notes •Other Remarks for the Transaction •Alphanumeric
15.Account •Account to be charged for credit and debit amount on the transaction •Account list in the Chart of Accounts Maintenance Module
16.Description •Any remarks or Notes in the Account Line of the transaction •Alphanumeric
17.Debit •Debit Amount for the Transaction •Number
18.Credit •Credit Amount for the Transaction •Number
19.Foreign Amount Currency •The conversion of the current amount into different currency •Number
20.Value Added Tax(VAT) •VAT to be applied in the amount on the accounting details in the transaction •Tick/Untick
21.Tax •Type of Tax to be applied when the VAT is ticked •Tax List provided in the Tax Maintenance Module


Notes:

  • Account should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Chart of Account Maintenance Module.
    • Past Transactions with INACTIVE status prior to its deactivation can still be used.
  • Supplier should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Supplier Maintenance Module
    • Past Transactions with INACTIVE status prior to its deactivation can still be used.
  • Currency should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Currency Maintenance Module
    • The currency maintenance will only be available if the user has Import Purchase Order Module
    • Past Transactions with INACTIVE status prior to its deactivation can still be used.
  • Proforma should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Proforma Maintenance Module
    • Past Transactions with INACTIVE status prior to its deactivation can still be used
  • Tax should be on ACTIVE status when using it upon creating or editing a transaction.
    • This can be seen in Tax Maintenance Module
    • This will be only available in the transaction when the VAT column is checked.
Accounts Payable Record Option
Import Purchase Order Status Action List
Status Available Action Buttons
View Edit Print Issue Payment Cancel
UNPAID
PARTIAL
PAID
CANCELLED


Notes:

  • The user can only edit Manually Created Accounts Payable Transaction and if that transaction is still on UNPAID status.
    • Auto-Generated Accounts Payable cannot be edited or cancelled.
  • The user can only Issue Payment the Accounts Payable if it is in UNPAID status and it has a Purchase Receipt tagged on it.
  • The user can Issue payment while viewing the details of the record.
    • This is only available when the Accounts Payable status is UNPAID.
Printing Accounts Payable
  1. Click Accounts Payable under Financials Menu
  2. Select an Accounts Payable that needs to print its details. Click the Drop-down Arrow then press Print.
Financials - Accounts Payable - Print.png
Issuing Payment in Accounts Payable
  1. Click Accounts Payable under Financials Menu
  2. Select a posted Accounts Payable that needs to issue payment, Click the drop-down arrow then click Issue Payment
  3. Fill out the necessary fields in the header section
  4. Fill out the necessary fields in the accounting details then click Save
  5. Go to Payment Voucher and select the newly created payment voucher, then click Post.
Financials - Accounts Payable - Issue Payment.png


Cancelling Accounts Payable Record

Accounts Payable can be canceled in two ways:

  • Using drop-down arrow of a record can be used in single record cancellation
Financials - Accounts Payable - Cancel1.png


  • Using Cancel Button for cancelling multiple records
Financials - Accounts Payable - Cancel2.png
Importing and Exporting Accounts Payable Record

1. Under Accounts Payable Screen, Click Options

2. Under Options, The user may Export or Import The Record

  • When Exporting the records, the user may also use the filter options such as Date Filter, Search Bar and Supplier filter for precise searching and exporting of records.
Financials - Accounts Payable - Export.png


  • When Importing the records, the user should follow the following steps provided in the Importing Accounts Payable Screen such as
Financials - Accounts Payable - Import.png


Import Data Dictionary of Accounts Payable
Field Description of Data Output Allowed Inputs Input Restrictions Required(Y/N)
Document Set Manual entry of Document Set of Accounts Payable (e.g., 1, 2, 3, A, B, C) *Alphanumeric

*Underscore (_)

*Other special characters not mentioned Y
Transaction Date Manual entry of Transaction Date of Accounts Payable *Numeric

*Dash (-), Backslash (/)

*Other special characters not mentioned Y
Due Date Manual entry of Due Date of Accounts Payable – must be based on Customer’s payment terms *Numeric

*Dash (-), Backslash (/)

*Other special characters not mentioned Y
Supplier Code Manual entry of Supplier code – must be based from Supplier Data maintenance *Numeric

*Customer Code based from Customer maintenance

*Any input not mentioned  in the required inputs Y
Invoice No. Manual entry of Accounts Payable Invoice No. *Alphanumeric

*Underscore (_), Dash (-)

*Other special characters not mentioned N
Reference No. Manual entry of Accounts Payable Reference No. *Alphanumeric

*Underscore (_), Dash (-)

*Other special characters not mentioned N
Notes Manual entry of Accounts Payable Notes *Alphanumeric

*Underscore (_), Dash (-)

*Other special characters not mentioned N
Account Code Manual entry of Account Code – must be based from Chart of Accounts maintenance *Numeric

*Account Code based from Chart of Accounts maintenance

*Any input not mentioned  in the required inputs Y
Description Manual entry of Account Description *Alphanumeric

*Special Characters

*None N
Debit Manual entry of Debit amount *Numeric *Any input excepts numbers Y
Credit Manual entry of Credit amount *Numeric *Any input excepts numbers Y
Categories:
Modules
Financials Financials | Accounts Payable | Payment Voucher | Debit Voucher
Purchase Purchase Order | Import Purchase Order | Purchase Order | Purchase Receipt
Maintenance Supplier | Currency | Exchange Rate | Proforma | Chart of Account
Reports
Purchase Reports Purchase Report
Financial Statements Accounts Payable Aging | AP Detailed Report | AP Transaction Report
Tax Reports Purchase Journal | Purchase Relief