CLASS Accounts Payable

Effective cash management is critical to a firm's success and growth. Maximum utilization of terms extended by vendors, and discounts offered, is necessary to optimize cash flow.

CLASS Accounts Payable system provides the user with immediate information regarding vendor detail as well as projected details regarding cash requirements.

CLASS supports multiple currencies, bank accounts, and subsystems within the same accounts payable database. It runs as a standalone module or can be fully integrated with the CLASS General Ledger, ProCLASS Distribution Management, and CLASS Bank Reconciliation Systems.

Features

• User definable payment periods permit flexibility for reporting purposes.
• Allows payments to be made for various divisions within a corporate structure utilizing different bank accounts.
• Allows payments to be made in foreign currencies utilizing an exchange rate table that is user defined.
• Multiple discount terms are provided for and are controlled by the user. Calculations of discounts may be made automatically or over-ridden by the users on input.
• Payments can be processed selectively by Period Due or Date Due.
• Cheque printing sequence is controlled by the user. The system allows printing by Vendor Name, Vendor Number, and Ascending cheque amount or descending cheque amount.
• Flexible cheque numbering system - controlled by the user.
• Maximum cheque amount to be issued by the system is provided, and is defined by the user.
• Flexible cheque print formatting allows for stub over cheque, cheque over stub, side by side (cheque right, stub left or stub right, cheque left), for line printer or LASER printer output.
• A re-issue cheque after a cheque run has been completed for the replacement of damaged or destroyed forms.
• Functions under each of the menu headings are interrelated for easy reference by the user. The same functional structure is used throughout the system.
• Can be used as an independent module, or it can be integrated with the CLASS General Ledger, ProCLASS Distribution Management System, and CLASS Bank Reconciliation System.
• Update to the General Ledger can be in detail or in summary form by GL Code - all user defined.
• Stringent Security Measures - Only authorized personnel can access the system and then, only after passing two security checks. The system displays only the menu functions which the user is authorized to access.
• Complete audit trail records all transactions along with date, time and author of each to ensure complete control over your system.
• System documentation provides complete and comprehensive step-by-step instructions to make the learning process as easy as possible.
• Multiple bank account features provide for the reconciliation of cancelled cheques to numerous bank accounts as well as for processing for banks in other centers. Promotes comprehensive audit trails.
• Operates independent of volume. The Accounts Payable system will never impede your growth. As your reporting requirements increase, the system will continue to provide you with the total control you require over your Accounts Payable data.
• System automatically calculates the Date or Period Due and Discounts upon entering invoice information into the system.
• Cash Requirement projections permit you the flexibility of establishing and reporting up to 6 defined future periods of cash requirements.
• Provides payments to various vendors in different currencies with different exchange rates.
• Allows for broker data to be recorded by vendor where applicable.
• Provides for Grace Days whereby the user can preset the number of days allowed past the discount date whereby the system will still allow a discount to be taken.
• Allows for real time on-line data entry or on-line data entry with batch update. There are two methods of input data: (1) by "Transaction Entry" which immediately updates the Vendor's balances or, (2) "Worksheet Entry" updating the files in batch mode, providing for a tighter control over your data input.
• Worksheet concept introduces consolidated entries, reducing keying time.
• Worksheet reclamation provides you with the ability to reclaim and change important fields of information for recurring transactions contained in a worksheet.

Summary

The CLASS Accounts Payable system provides management with the necessary tools to effectively manage its cash requirements.

Information managed by the system allows the user to not only control accounts payable, but to also monitor its departmental performance.

CLASS Accounts Payable addresses many unique requirements that are critical in today's businesses. We would like to review your specifications and work with you to implement the CLASS solution to your Accounts Payable needs.

CLASS Financials Summary | CLASS Accounts Receivable