Accounts Payable

Accounts Payable

The Accounts Payable (AP) module is used to track vendor invoices, automate payment processing, predict cash requirements, track vendor balances, manage available discounts, and deliver vendor reports.

View Datasheet

Bill Entry

Bills Approval

Release Checks

Highlighted Features

  • VENDOR PREPAYMENTS: Enter prepayment requests, issue prepayments to vendors, and apply prepayments to vendor invoices once they are received. The vendor prepayments balance is kept separate from the regular AP balance in order to maintain deposits as an asset account.
  • PREPAID EXPENSE RECOGNITION: Each AP line item can be assigned a deferred expense schedule so you can accurately recognize expenses in the proper reporting period. Acumatica will automatically split the expense between the prepaid expense asset and expense accounts and recognize the expense after running the prepaid expense recognition process.
  • PAYMENT APPROVAL PROCESS: Bills can be automatically approved for payments or go through a payment approval process so you can prioritize or delay the bill payment. Once the bill is approved for the payment you can print the check or issue an electronic payment
  • USE, VAT, AND WITHHOLDING TAXES: The AP module automatically calculates Use and VAT Taxes and prepares reports for tax filing and reporting. Acumatica also supports withholding tax calculations.
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Prior to meeting with Advanced Business Software Corp, The City of Garden City was planning to replace Dynamics GP due to a lack of support from the previous VAR and their poor implementation. Once we engaged with Advanced Business Software they were able to reconfigure Dynamics GP to our needs and their staff gave us the training and resources we needed to do a proper implementation. Advanced Business Software has become our consulting and support team and we are extremely pleased with how efficient and prompt they are in handling all of our accounting questions and implementation needs. I would recommend ABS services and support personnel to anybody considering purchasing Dynamics GP.

Clara Rouse Finance Director, City of Garden City

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