MAS 500 Accounting Software Accounts Payable

Sage MAS 500 Accounts Payable Module
Sage MAS 500 Accounts Payable can be run with General Ledger only or integrated with additional Sage MAS 500 modules. Accounts Payable maximizes flexibility by enabling you to customize vendor management tasks to match your business process. This module allows you to save time by setting up recurring vouchers and taking advantage of simplified period-end options. Accounts Payable enhances control of your business with immediate access to vendor information.
Quick Links
Screen Shots	Activities	Inquires	Reports Examples
Setup	Utilities	Integration	Other Reports
Operational Flexibility
Vendor Class	Assign a class to each vendor. Vendor Class control many default values, which may be overridden for individual invoices. Further, you may view purchase history data by Vendor Class.	Generous Field Sizes	Five street address lines hold even the longest international addresses.
Multiple Addresses	Store any number of additional addresses for each vendor.	Multiple Contacts	Store any number of contacts associated with a vendor, including title, phone, fax, extension, and Email address.
Document Transmission Options	You elect to have documents printed or sent by e-mail in HTML or RTF format. If you use e-mail, it is sent to the e-mail address for the contact on the purchase order.	Custom Fields	Create up to four custom fields associates with each account. Designate each as required or optional, indicate its data type (i.e. validated, date, alphanumeric), and a list of valid entries if appropriate.
Vendor Defaults	Maintain a complete series of defaults by vendor, such as: Item number, account number, payment terms, 1099 data, sales tax schedule, etc. all of which can be overridden for an individual invoice or purchase order.	Recurring Vouchers	Use the recurring voucher task to create and maintain invoices that occur on a regular basis, such as monthly rent, contract payments, or insurance payments. Once established, simply select and transfer it automatically to a voucher batch for payment to avoid re-entering the entire transaction every month.
Vendor Class and Departmental Substitution	The vendor class override and department/location override enable you to override specific General Ledger account segments during data entry with values assigned to vendor classes or batches of transactions, allowing flexible expense allocation	1099 Processing	Establish a default 1099 form and 1099 box for each vendor in Maintain Vendors. You can override these defaults when you create vouchers and recurring invoices in Process Vouchers.
Set Up
Setup Defaults	Assign defaults for general ledger account, item, 1099 type, payment terms, bank account, currency, and tax codes. Designate user-defined tolerance codes for purchase order matching. Create an easy-to-follow audit trail while preventing duplicate invoice entries and payments.	Detail Postings	Indicate whether postings to general ledger from accounts payable should be made in detail. Select the detail option by individual account. For example, you may elect to post to the cash account in detail, but in summary to the freight expense account.
User Defined Aging Categories	Define the parameters of four aging categories (e.g. 30, 60, 90, 120)	Security	Sensitive accounts payable records are safe from unauthorized access through the use of specific security groups, limiting access to a defined group of users. You may establish access permissions such as display only, excluded, add/change/delete, or supervisory.
Unlimited Bank Accounts	You can add an unlimited number of bank accounts for each bank.	Common Information Setup	Like all Sage MAS 500 modules, Accounts Payable uses components set up in Common Information. Common Information defines records shared by two or more modules. For example, processing cycles are used by Accounts Payable, Accounts Payable, and Accounts Receivable.
History Retention	You determine how long to keep voucher header, detail, and payment history (up to 999 months) and vendor purchase history and 1099 history (up to 999 years).	Simplified Period End Processing	Specify which reports to print automatically at period end. Purge data at any time or as part of the period-end process. Elect to post to current and future periods, and generate audit registers, reconciling your accounts payable with the AP Trial Balance report.
Activites
Voucher Based Accounting	Accounts Payable assigns a unique voucher number (or you may enter your own unique number) to each invoice, debit memo, and credit memo. Voucher numbers, coupled with the vendor’s invoice numbers, provide an easy-to-follow audit trail while preventing duplicate invoice entries and payments.	Batch Processing	Vouchers are entered in batches that group transactions and define settings and defaults used to process those transactions. A batch can contain one transaction or hundreds of transactions. Select, print, and post multiple batches. This task also gives you an overview of the status and totals of all unposted batches in your payables system.
Splitting Batches	Use the split batch task to move vouchers from the current batch into a new or existing batch.	Voucher Entry	Each voucher entry window has three tabs: Header, Detail, and Totals to capture the data necessary for voucher creation.
Reason Codes	To further describe each voucher, you can use reason codes and enter comments. For example, you could enter a reason code for a debit memo that indicates why you were issued the debit.	Remit To And Purchase Address	Each invoice may be assigned a vendor remit to and a separate purchase address.
Next Voucher Number	Automatically assign the next voucher number, or enter an unassigned voucher number.	Intercompany Processing	For each individual voucher transaction line, you may specify the company to receive the voucher.
Automatic Distribution	Automatically distribute voucher amounts to the appropriate General Ledger accounts and override individual accounts as necessary.	Multicurrency Revaluation	When integrated with the Multicurrency Management module, you can revalue currencies on a per voucher basis in Accounts Payable.
Post To Any Period	You can also post to an unlimited number of future or fiscal years or reopen a past year, and specify the fiscal year to use for printing Accounts Payable reports.	Voucher Line Detail	For each item on the voucher, you may specify a Sales Tax Amount, Freight Amount, Ship Via, and FOB.
Override Accounts	Override the default expense account for each item line entered on a voucher if appropriate.	Transaction Line Comments	A large comment field is available for each item entered on the voucher.
Debit/Credit Memos	Select a type of Invoice, Credit Memo, or Debit Memo for each voucher entry.	Prepayment Processing	Apply previously posted unapplied payments, credit memos, and debit memos to open vouchers or memos.
View/Edit Vouchers	Use the View/Edit Vouchers task to review and edit nonfinancial data. For example, you can correct dates or update an item description. If a voucher line is associated with a purchase order, you can drill around to the purchase order details associated with the voucher line.	Printing Vouchers	Print vouchers one at a time or for an entire batch.
Posting Vouchers	After you enter vouchers, you can post the information to the General Ledger and make the vouchers available for payment. Before you post vouchers, verify the accuracy of the batch by printing and reviewing the Voucher Register.	Reversing Posted Vouchers	You cannot delete a posted voucher, but you can reverse it with a simple process.
Vendor Memos	Create, edit, and delete memos for each vendor. When you create memos, you enter a memo name and subject, indicate whether the memo is high-priority, enter the To and From persons' names, the memo text, and the effective and expiration dates.	Edit 1099 Data	You have the ability to change a vendor’s 1099 information prior to submitting the 1099 form. You can rapidly make changes to several vouchers for a vendor. You can change the 1099 form, 1099 box and related box text (if necessary). You can change the 1099 amount in the grid of the Edit Payment Application 1099 Data, if a payment is posted.
1099 Corrections	You can use this task to enter corrections to 1099 forms including amounts and incorrect address information after submittal. You can use this task to enter and flag corrections requested by the IRS. After you correct the 1099 information, you can then re-submit the corrected 1099 forms and the original 1099 forms if required.	Manual Checks	Record information for checks that you wrote manually. Print manual checks using the Quick Print feature.
Apply Payments	Use this task to apply unapplied payments, credit memos, or debit memos to open invoices or other credit memos or debit memos. After a payment has been applied to another transaction, they display together in subsequent processes, and the invoice balance is adjusted accordingly.	Voucher Selection	You can select vouchers for a range of vendors, by invoice due date, or by discount date. (If you select by discount date, this ensures that you take advantage of the available discounts.) After you select vouchers for payment, you may need to view, and unselect vouchers or payments. You perform these procedures by clicking the View Payments toolbar button on the Select Invoices for Payment window. When you are finished selecting vouchers, you can print checks from the batch entry window.
Void Checks	Void checks that have not been posted, but have been damaged for some reason. Only the check number is tracked; there is no financial impact. View a list of voided checks by running a Payment History Report.	Remittance Detail Report	Print the Remittance Detail Report to list invoices being paid for by a specific check. This report is an alternative to printing remittance information on check stubs when such information may be more than can fit on one stub.
View Bank Balance	View your bank balance during payment entry with the touch of a button.	Multicurrency Capabilities	Enter vouchers in a vendor’s natural currency and issue payments in any currency. You may modify the settlement amount of an invoice using an exchange rate override and recognize and post realized gains and losses when paying an invoice. Sage MAS 500 supports cross-rate derivation.
Business Forms	Standard forms include checks, vouchers, 1099 forms, labels, and others. You may modify, redesign, and create new forms using Crystal Reports.	Extended Stubs	You determine how the system handles voucher detail: 1)Never Print voucher detail on stub with overflow to next check stubs (checks are voided); 2) Always print all voucher detail on blank paper, leaving stub blank; and When needed print voucher detail on stub with overflow to blank paper.
Inquires
Drilling Down	Use the Inquiry menu to drill down or drill around to view stored detail. For example, you might want to view a list of transactions for a selected vendor or vendor class, or a complete listing of all vouchers, credit memos, and debit memos (in chronological order) on file for the vendor.	Vendor Status	View information about the vendor's statistics, invoice aging, credit, purchase history, and transactions. The amounts shown consist of posted transactions as of the current system date.
Vendor History	Use this inquiry to view a summary of vouchers associated with a specific vendor. Use the Options tab to further define the vouchers that display. You can select information such as whether to display vouchers for a specific year, period, or day. You can also view a summarized amount of purchases made by the vendor.	Vendor Class History	Use this inquiry to view a summary of vouchers associated with a specific vendor class. Use the Options tab to further define the vouchers that display. You can select information such as whether to display vouchers for a specific year, period, or day. You can also view a summarized total of purchases for the vendor class.
Voucher Summary	View a list of vouchers, credit memos, and debit memos on file for a selected vendor or vendor class. You can right click on a selected row to open a context-menu where you can display a voucher’s detail. You determine whether to display open or closed invoices or credit memos. Drill down to see the GL Journal source of the voucher, or the purchase order if applicable.	Payment Summary	Use this inquiry to view a chronological list of payments. If you are using the Multicurrency Management module, the payments are listed in the currency in which payment was made. This can be the company’s home currency, the vendor’s natural currency, or a third currency. You can also view the exchange rate that was in effect when the payment was originally made.
Screen Shots
	Maintain Vendors		Document Transmittal Configuration
	Maintain Vendors—Defaults		Maintain Vendor Classes
	Maintain Recurring Vouchers		Maintain Recurring Vouchers—Header
	Maintain Recurring Vouchers—Detail		Maintain Recurring Vouchers—Totals
	AP Options—Main		AP Options—Integration
	AP Options—General Ledger		AP Options—Data Retention
	AP Options—Customize		AP Options—Custom Fields
	Setup 1099 Boxes		Process Vouchers
	Enter Vouchers—Header		Enter Vouchers—Detail
	Enter Vouchers—Totals		Foreign Currency Entry
	Edit Voucher 1099 Data		1099 Corrections
	Process Invoices		Select Invoices for Payment
	Bank Balance		Enter Payments
	Enter Payments—Detail		Prior Payment Applications
	Process Manual Checks		Manual Check Entry
	Manual Check Entry Detail		Print Checks
	Process Payment Applications		Vendor Memo
	Apply Payments and Memos		Post AP Batches
	Age Vendor Accounts		Voucher Inquiry
	Vendor Payment Inquiry		Vendor Status Inquiry
	Vendor Status Ledger		Purchase History Inquiry
	Vendor History Inquiry		Vendor Class History
	1099 Beginning Balance		Import AP Data
	Purge AP Data
Useful Utilities
Purge AP Data	Use Purge AP Data to purge data outside the normal period end processing task. When you purge using this task, you specify the age and record categories to purge, or use the defaults from the data retention selections selected in Set Up AP Options.	Data Exchange	You can import vouchers, vendors, vendor addresses, contacts, purchase history, and transaction history directly from an external file. You can use ASCII text and delimited text files to import data.
1099 Beginning Balance	Use this task to set the 1099 beginning balances by vendor, year, form, and box.	Age Vendor Accounts	Use this task to selectively age vendor accounts outside of the normal period-end processing cycle. Aging can be for one vendor or a range of vendors as of the invoice date or from the invoice due date.
Integration With Other Sage MAS 500 Modules
Integration With Other Modules You can use Accounts Payable with General Ledger only or integrated with additional modules. In an integrated system, modules share common information with related modules. This sharing eliminates double entry of information that is already stored in Sage MAS 500. Additionally, postings from other modules are automatically made to Accounts Payable. The modules that can be integrated with Accounts Payable are: General Ledger Cash Management Purchase Order Multicurrency Management
Reports
Aged Payables	Trial Balance	Cash Requirements	Purchase Activity
Vendor Payment Activity	Sales Tax Report	Payment History	Vendor Purchases and Analysis
Analysis Report	Vendor List	Vendor 1099 Activity	Recurring Voucher List
Export Reports All Accounts Payable reports can export data to an external file. Data types supported include ASCII text, delimited, DIF, Excel, Lotus 1-2-3, HTML, rich text format (.RTF), Crystal Reports for Sage MAS 500 (.RPT), or Microsoft Word files. Aged Payable Use the Aged Payables Report to view a list of invoices by vendor and aging category. The report provides a concise overview of outstanding invoices to help you decide which vendors to pay and when. Purchase Activity The Purchase Activity Report allows you to view purchasing activities recorded in Accounts Payable. The report includes vouchers recorded through Process Vouchers and Process Manual Checks. Vendor Payment Activity The Vendor Payment Activity Report helps you reconcile your bank statements by allowing you to view information on checks printed for a specified date range. You can also use this report to view a list of all unapplied payments. The report provides totals for all amount columns. Sales Tax The Sales Tax Report provides information on sales taxes paid to vendors. The report provides the information you need to provide to state and local authorities. Payment History The Payment History Report provides a recap of all Accounts Payable payment activity for banks and their associated bank accounts for the current company. Amounts shown on the Payment History Report always display in the natural currency of the payment transaction. Vendor Purchase Analysis The Vendor Purchase Analysis Report provides a summary of total purchases, payments, and discounts taken or lost. You can include period-to-date, year-to-date, prior-year information, or all three types of information. Use the report to compare Accounts Payable activity by vendor for the time period or periods that you specify. AP Analysis Use the AP Analysis Report provides an in-depth aging recap and summary of Accounts Payable activities. This report uses the aging categories defined in Set Up AP Options. This report includes information for the current closed period and previously closed accounting periods. Cash Requirements The Cash Requirements Report produces information on outstanding invoices and total cash requirements for any three consecutive future periods. The report provides the necessary data to help you analyze future cash needs and effectively plan cash flow on a periodic basis. The ability to print the report by discount date can help you plan payments to maximize the available discount savings. Vendor 1099 Activity The Vendor 1099 Activity Report provides information on 1099 payments made to vendors. This report shows payments by Form and Box for a range of vendors by a selected date. You can use this report as an audit trail prior to printing the actual 1099 forms. Vendor 1099 History You use this report to display information about vendor 1099s that were submitted or corrected. Each correction and submission displays for the associated vendor. AP Trial Balance The AP Trial Balance Report provides a complete recap of Accounts Payable vendor accounts and balances. Use the report to reconcile General Ledger to the Accounts Payable balance for an account. Depending on the format and other options that you select, the report can include payments, credit and debit memos, unapplied payments, or other activities that affect Accounts Payable balances as of a selected posting date. You can also select all closed invoices that were posted before the specified as-of posting date.