RATEX Business Solutions, Inc.

The Accounts Payable System is an integrated module of the RATEX software. It was designed to provide maximum flexibility in controlling and monitoring your bookstore's outside financial obligations. With this module, you can take better advantage of credit memos and discounts while having at your fingertips detailed records of invoices, chargebacks and payments. The Accounts Payable Module interfaces with the RATEX modules General Ledger and Physical Inventory as well as other, non-RATEX systems.

EXTENSIVE VENDOR FILE

The vendor record contains essential biographical data, default discount terms, account balances, and detailed transactions in both the current and the historical files. An example of the data includes vendor name, address, city, date, phone number, running balance, balance due, last check number, and date of last check. The vendor file satisfies the needs of your bookstore.

MANAGING ACCOUNTS PAYABLE

The Accounts Payable Module provides for terminal entry and updating of invoices and credit memos in addition to automated transfers of open receiver information from the Receiving Module. Discount terms and due dates are monitored by the system to assure cash flow utilization. You can make payments manually or with the automatic checkwriter. The Accounts Payable Module also handles prepaying of invoices not yet in the payables process, manual payments of existing invoices, and recording of expenditures that do not require an invoice. It also provides you with a ready review of vendor and individual invoices at any time.

Adjustment capabilities include decreasing and increasing payable amounts and processing credit memos and cash refunds from vendors.

In addition to the advantages mentioned above, the Accounts Payable Module will provide you with the capability to:

Batch or not batch transactions into accounts payable.
Ensure that invoices are paid only once.
Correct inaccurately entered vendor invoice numbers and vendor credit memo numbers.
Process partial payments and prepayments on invoices.
Handle one-time vendors.
Distribute approved invoice amounts over several ledger accounts or inventory classes.
Reconcile bank-processed checks as an optional feature.

ACCOUNTS PAYABLE REPORTING

The Accounts Payable Module helps you monitor your bookstore's financial status by generating comprehensive reports designed into the system or by allowing you to design your own reports. The options are almost endless. The following are a few examples of the wide variety of reports that are available to your bookstore:

Vendor Snapshot
Purchase Journal
Cash Disbursements Journal
Financial Overview
Monthly Activity Detail
Debit Balance Notices
Transaction Journal Detail/Summary
Unpaid Transactions
Expense Journal
Cash Requirements Forecaster
Cancelled and Voided Checks
Accrued Payables

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