RFS Accounts Payable

RFS Accounts Payable (A/P) provides for effective cash disbursement management, from entering payables to reconciling payments. With its emphasis on predefined business and accounting rules, RFS A/P enables you to streamline your high-volume invoice and payment processing.

RFS A/P allows you to avoid problems such as duplicate payments, lost discounts, lack of control over disputes, and cumbersome payment processing. With RFS A/P, you gain control over the entire payables process and have the flexibility to tailor your system when your cash management requirements change.

Check Printing

RFS A/P supports dual stub and remittance formats for laser and impact printers, so you gain the flexibility to print in your desired format.

Voiding Checks

You can enter a range of checks to be voided and record the reason for voiding. If a payment was posted to the RFS G/L through the Cash Disbursements Journal, RFS A/P reopens the associated payable and generates a journal entry to reverse the posting of the original payment.

1099 Reporting

Through RFS A/P's magnetic media 1099 processing, you can send 1099 information to the IRS in electronic format. You can also print 1099 forms for your vendors.

Recurring Payables

At each user-defined recurring payable interval, RFS A/P automatically creates an invoice with the information provided on the recurring payable.

Debit Memos

RFS A/P supports debit memos that reflect adjustments to merchandise, freight charges, and/or miscellaneous debits/credits. You have the option of creating a "credit" from the vendor or requesting a refund.

Payment Selection

You can select payables automatically by net due date, discount due date, or vendor. Additionally, you can select individual invoices (manually or automatically) for full or partial payment, and you can place selected payables on hold.

Multi-company and multi-currency functionality
Multiple payment banks and bank accounts
G/L distribution per vendor, product code, or company
Wire transfers and EFT
Ability to pay multiple bills with a single check
Automatic check generation and numbering
Discount automatically calculated during payable selection
On-line vendor payment inquiry/history
On-line check reconciliation
Purchase Distribution report for a breakdown of vendor invoice postings
Cash Requirements report supports up to five user-defined range buckets, and allows you to factor in available discounts
Payable reversal feature allows you to cancel or modify a payable already posted to RFS G/L