Accounts Payable - Processing Invoices

Overview

A voucher, created from a vendor’s invoice, is the primary document in the Accounts Payable module. Regardless of how or where the data was entered, vouchers must contain the same basic information to be valid. A voucher must at a minimum have a specified company (company paying vendor), invoice number, vendor code, invoice date, due date, amount due, plus at least two lines of accounting distribution (liability and expense).

The steps listed below outline the process of entering invoices into the AP module to create voucher records. Vouchers are then used to post accounting transaction information into the General Ledger module. This process can start at multiple points in the system, but the final result is that an invoice has been recorded against a vendor, and the General Ledger and other required sub-ledgers have been updated with the invoice information. This process will be one of the most frequently used processes in the system, and it can be run at any frequency, as required.

  1. Create a batch.

  2. Enter voucher information.

  3. Verify data by printing the edit list.

  4. Post the batch.

  5. File the posting reports.

NOTE: A system option is available to control transaction batch postings in the Accounts Payable and General Ledger modules by implementing segregation of duties to restrict users who create AP/GL transaction batches from posting their own batches, reducing the risk of unauthorized transactions. The ‘Restrict Posting of Current User’s Own GL/AP Batch’ checkbox that controls this functionality is located on the Financials tab of the System Options screen in the System Data module (standard Treeview path: System Data > Setup > System Options – Financials tab). For more detailed information on this option, please refer to the System Data guide.