Use the Infor Distribution FACTS Accounts Payable module to maintain accurate file information on vendors, open payables, recurring payables, checks, and electronic payments. You can also create complete audit trails of all transactions and, if set up to do so, automatically post transactions to the General Ledger.
The Accounts Payable module consists of the following menus:
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Document Entry is where you enter AP invoices. This menu also includes the Recurring Document Entry subsystem. Invoices that you enter on a regular basis can be set up in theRecurring Invoices subsystem to cut down on data entry. |
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Payment & Hold Selection is used to select invoices for payment. Invoices that have been entered through Document Entry or Recurring Document Entry must be selected before you can run checks. |
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Checks is where you manage check processing and electronic payments. |
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AP Inquiries provide a quick way to find current and past information on vendors. |
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AP Reports & Prints provides options for printing in cash requirements, payables history, and vendor information as well as the Vendor Balancing Register. |
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End of Period contains programs that you must run to close the module correctly at the end of each period. There is an end-of-period checklist provided later in this section that contains the procedures used to close the AP module. Some programs are optional, such as the Period Check Register, and others are required, such as the Register History Report. The end-of-period menu programs provide you with a complete audit trail of the AP balance. The Vendor 1099 Processing submenu allows you to view and maintain 1099 vendor balances and Taxpayer Identification numbers throughout the year, along with access to check history and audit capabilities. |
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File Maintenances enable you to enter, change and delete data. These programs are used to enter the initial data required to set up the system. You can add, change and delete the records in a file. You will use some file maintenance programs, such as Vendor F/M, during live processing more than others. The system also contains an additional maintenances sub-menu; the programs are Infrequent File Maintenances. These infrequent file maintenances (found on the Infrequent File Maintenances menu) are used mostly during installation. |