Acumatica Accounts Payable

17 Jul

Acumatica Accounts Payable

Key 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.
  • Vendor payment processing Avoid overpaying vendors with a new process flow in AP—open debit adjustments are automatically available to be selected during payment processing.
  • Multiple AP accounts in GL Link different groups of vendors to different AP accounts in the GL by specifying a default AP account for each vendor. Acumatica tracks which account was selected and offsets the correct account and amount when the vendor payment is applied.
  • Support multiple currencies Track vendor balances and pay vendors in a foreign currency. Acumatica automatically computes the realized gain/loss. Unrealized gains and losses can be calculated using the AP currency translation account.  
  • Recurring AP documents Reduce data entry and reduce potential errors by creating recurring bills. Set the frequency of the payment as well as the time frame. Once established, recurring bills will appear in the recurrent transaction processing screen so you can modify and release them.
  • Vendor refunds Receive vendor refunds. Each vendor refund will debit a cash account and debit an AP Account. You can apply a refund towards a Debit Adjustment or Prepayment document.
  • AP aging reports Analyze upcoming obligations by configuring AP aging categories which are reflected in a full set of aging reports. By providing total outstanding balances as well as past due accounts, aging reports help you analyze your AP, cash requirements, and vendor performance.
  • 1099 reporting Trace 1099 information for each vendor that you designate. The 1099 box is determined by the system based on the expense account but can be over-ridden when recording invoices. You can specify the minimum amount of each type of 1099 box within the year.
  • Vendor account security Prevent unauthorized account access by specifying which individuals and roles can view and modify vendor account information and balances. Set specific roles for approving vendor payments.
  • Audit trails Review which user entered and changed the details of any AP transaction. Any potential auditing process will be simplified with notes and supporting electronic documents that are automatically attached to transactions.

Key Benefits:


  • ACCESSIBLE FROM ANYWHERE Access 100% of your accounts payable features from anywhere using any popular web-browser.
  • OPTIMIZE PAYMENTS Avoid late charges and take advantage of vendor discounts by aligning payments with cash flows.
  • PREDICT CASH REQUIREMENTS Run reports to determine upcoming cash requirements and manage payments accordingly.
  • FASTER DATA ENTRY, FEWER ERRORS Enter data more quickly with predictive entry and flexible screen layouts. Reduce errors by setting default accounts, subaccounts, payment terms, and discounts by vendor.
  • ACCELERATE DECISION MAKING Improve vendor payment decisions by using drill down reports and dashboards to gain access to past information and provide insights into future needs.
  • ORDER LOCALLY AND INTERNATIONALLY Maintain vendor balances in both a base currency as well as the vendor currency. Currency translations are performed automatically.