Accounts Payable

Managing cash flow is critical to every Professional Service Firm. Elite's fully integrated Accounts Payable System is designed to closely monitor cash situations, while streamlining the entire payables process. Features such as quick checks, electronic check generation, online bank reconciliation, scheduled payments and online design ensure that all information is current and accurate. Integration with Elite's Professional Billing System and General Ledger provides a seamless update to the operating environment.

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Features

• The Voucher Entry program allows users to input voucher, vendor, general ledger data, billing information and print checks within a single process.
• Full 1099 tracking and statement processing.
• Formal handling of multiple bank accounts ties the next check number to the appropriate bank account.
• Online inquiry by vendor, by period with "drill down" to underlying detail.
• Hotkey from voucher entry to vendor maintenance expedites address changes and new vendor set up.
• Manages partial payments and manual check tracking.
• Check reconciliation can be made by individual check or by a range of check numbers.
• Bank reconciliation allows for electronic reconciliation of your bank account and your system transactions.
• Recurring entries feature eliminates the need for repetitive manual entries.
• Recurring entries may be scheduled for a selected number of payments paid weekly, monthly, quarterly, or annually.
• Cash, accrual or hybrid accounting methods are fully supported.
• Electronic vouchers can be created from ASCII files, including associated client costs.
• Vendors can be paid in currency of choice with proper conversion calculations and reporting.
• Laser checks
• Separate checks per transaction can be set up by vendor to accommodate items such as filing fees. These can be overridden at voucher entry time.
• Different check formats can be defined for each bank account.
• Allocation rule allows a table with specific general ledger accounts and percentages to be called when entering vouchers and is useful to multiple office rent distributions, departmental splits, malpractice insurance, and so on.
• Automatic or user-defined vendor and voucher numbering saves time and ensures accuracy.
• Quick checks can be printed individually or by batch.
• Void function simplifies the process of voiding checks.
• The Elite System holds full detail for multiple years.
• Accounts payable permits separate month-end close from the general ledger.