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.
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.
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).
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.