Summary -

In this topic, we described about the Accounts Payable in detail.

The Accounts Payable application component records and manages accounting data for all vendors. Accounts Payable is an integral part of the purchasing system where all transactions are managed affording to vendors.

The system automatically makes postings in response to the operative transactions. The system supplies the Cash Management application component with amounts from invoices to optimize liquidity planning.

Payables are paid with the payment program. The payment program supports all standard payment methods in printed form. The payment program covers country-specific payment methods.

Postings made in Accounts Payable are simultaneously recorded in the General Ledger. There are balance lists, journals, balance audit trails and other evaluations available for documenting transactions in Accounts Payable.

Accounts Payable sub-components are –

  • Master data
  • Invoice Processing
  • Payments/disbursements
  • Account Analysis & Reconciliation
  • Periodic Processing
  • Reporting