6 Distinct Strategies To Look after Your Accounts Payable

The synchronization of MAS 90, MAS 200 with Doc-link™ brings in superior financial command to taking good care of payables processing from receipt of vendor invoices to voucher entry. Owning doc-link, users can match purchase orders, receivers and vendor invoices promptly from the desktop for quickly reconciliation and resolution. Users can also electronically look into the invoice and supporting document using their desktops enhancing paper-matching techniques.

1.    Receive AP invoices through MAS 90 or MAS 200

Obtain Accounts Payable invoices from vendors or remote offices by email, fax, electronic file transfer or mail. All mailed invoices are scanned.

2.    Assign to AP processor queue

All captured vendor invoices are electronically sent out or issued to an AP individual’s processor queue. Invoices should be pre-indexed for simple and easy retrieval all due to the approval process.

3.    Electronically approve invoices

By way of workflow, vendor invoices may just be sent to a manager’s desktop electronically for approval. The approval procedure is put in place to a company’s paper process. Approvers “electronically stamp” the invoice implementing the acceptable status (i.e. Approved, Disapproved, On Hold, etc). The stamp is personalized to each individual approver and facilitates very important information to be keyed into the stamp, this sort of as GL distribution codes, or automatically provided, including the log-on of the approver, the date and time of the approval. The approval stamp may be a lasting notation to be arrange straight on the invoice image furnishing an unalterable audit. The minute approved, the invoices are sent electronically through workflow to the applicable processing queue in AP i.e. Approved, Not approved, etc.

4.    Voucher invoices

Each accounts payable clerk obtains approved invoices electronically from managers. A side-by-side view of the voucher entry screen and the invoice image causes it to be feasible for AP clerks to conveniently and efficiently voucher invoices. MAS 90 and MAS 200 users could also evaluate all supporting documents like purchase order, receiver, etc. from the AP Entry Screen.

5.    Automatic indexing and electronically filing of entered invoices

The moment the invoice is entered within MAS 90 or MAS 200, the invoice image is immediately indexed with the invoice data and saved in the doc-link database. Doc-link moreover maintains all electronic “file copies” (i.e. the invoice is tied to its purchase order, the vendor, a project, etc.) removing the necessity to handle and document the paper invoice.

6.    Review invoices for payment from the MAS 90 and MAS 200 desktop

Paying checks is a lot easier and faster with doc-link. The check signer or authorizer can readily inspect invoices and checks for signature, or have the documents printed to an Altec MICR check printing system from the desktop. As soon as the checks are approved and printed, doc-link immediately captures the check and retains it in doc-link as well as “retro-indexing” the check facts (number and date) to all invoices paid by each check.

Firms making use of MAS 90 and MAS 200 go through a enormous creation increase by using their Accounts Payable processing as the clerical and paper-intensive tasks are done away with. Implementing doc-link, users can:

-Get hold of invoices and purchase orders to approvers’ desktops without any will need of mailing, faxing, copying or personally relocating documents.

-Electronically “rubber stamp” invoices and purchase order approvals.

-Email or fax documents with annotations from the desktop to vendors and purchasing managers requiring resolution.

-Quickly monitor all invoices presently in the approval and resolution process.

-Drill down from the Sage Software accounts payable application to invoices, purchase orders, checks, delivery receipts, etc., doing work with any of the accounts payable data, this includes GL account, date range, and vendor number.

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