ONE SOLUTION FOR ACCOUNTS PAYABLE
Accounts Payable Module
AccuBuild’s Accounts Payable module provides complete control over cash outflow. Each feature within this construction accounting software program is designed to streamline the flow of your payables – from posting invoices and scheduling payments to printing checks and managing subcontractor payments.
Vendor invoices can be posted using multiple distribution amounts, including multiple G/L account numbers and/or job and phase combinations and will immediately update to Job Cost and the General Ledger. Invoices are automatically aged by date and the balance due for an invoice or vendor can easily be displayed. Payments can be scheduled to take advantage of vendor discounts.
Flexible check writing allows you to select which invoices to pay using Job, Vendor, G/L Account or Proposed Payment Date as your criteria for payment. The Handwritten Checks option expedites single-check processing and is also used to create a joint check. And if you need to void a check, AccuBuild’s construction accounting software will automatically reverse all associated entries and reinstate the invoice on the aging schedule.
Accurately Manage Subcontractor Payments
Managing subcontractor payments within AccuBuild assures that payments are made according to approved schedules. The Subcontractor Payment Sheets automatically calculate percentages of completion based on Job Cost data. Manual, user-defined percentage of completion can also be used to generate a subcontractor payment. Plus, retention invoices for a subcontract can be generated at any time.
AccuBuild’s construction accounting software provides flexible aging reports, cash disbursement reports and subcontract payment summaries. Accounts Payable also processes 1099 forms as needed.
Accounts Payable Module Features
- Invoices may be entered with multiple distribution amounts, including multiple General Ledger account numbers and/or job and phase combinations
- Payments can be scheduled in batches or processed one at a time through the Handwritten Checks option
- Subcontractor Payment Sheets automatically calculate % of Completion
- Generate subcontract invoices based on the percentage billed to the project owner for each work item
- Generate subcontract invoices with a user-defined percentage of completion
- Generate a retention invoice for a subcontract on demand
- Reprint Payment Sheets at any time
- Select invoices to pay by Job, Vendor, G/L Account or Proposed Payment Date
- Partial payments on vendor invoices are supported
- Schedule payments to take advantage of vendor discounts
- Print Vendor Remittance Statements as needed
- Automatic notification of insurance expiration and supplier liens when processing checks
- The creation of joint checks is supported
- Voiding a check automatically reverses all associated entries and reinstates the vendor invoice on the aging schedule
- Accounts Payable Aging Schedule can be generated for current period or reconstructed for any prior period in any year
Featured AccuBuild Construction Software Accounts Payable Reports
The Accounts Payable Aging Schedule lists all of the unpaid (open) invoices that exist in the Payables system as of a specific date. This report includes an aging column for current, 30 day, 60 day, 90 day, 120+ day amounts and one for retention amounts. The Aging Schedule prints a total balance amount on the last page of the report and this amount should equal the total of the General Ledger Accounts Payable account(s).
Subcontractor Payment Sheet Summary Report
The Subcontractor Payment Sheet Summary Report lists all of the payment sheets for each subcontractor in job number order. This report includes the invoice reference number of the payable invoice associated with each payment sheet, the current amount of each invoice and the associated retention amount. This report can be generated for all payment sheets on all jobs for selected subcontractors or for all subcontractors on selected jobs. This summary report can then be used to determine the amount of money that is owed to each subcontractor.
Accounts Payable Module Reports
- Cash Disbursements Reports (detail or summary)
- Accounts Payable Aging Schedule (can be generated for current period or reconstructed for any prior period in any year)
- Subcontractor Payment Summary Report
- Purchase Journal Report
- Vendor Activity Report