Accounts Payable

Accounts Payable is completely integrated with Pak Accounting's General Ledger system in order to eliminate duplicate data entry.

The Accounts Payable system, essentially, allows you to track the bills (invoices) you have; those that you have already paid, and those that are still outstanding. Typically, invoices are accrued in one month but paid in another. For instance, last month's utility usage was paid for this month. The Accounts Payable module allows you to track these invoices and payments by vendor (either paid or still outstanding), print reports (such as the "Open Item Report" - those vendors that you still owe - report), project cash requirements, write checks, and automate bank account reconciliation(s).

Before using Accounts Payable you must initially set up the following:

1.	Company A/P Entry Options: This screen sets up the company defaults for Accounts Payable. These fields will only need to be changed if you do not want to use the system defaults.

2.	Bank Account: What account(s) will checks be written from?

3.	Chart of Accounts: When you set up your Chart of Accounts in Account Maintenance [F11], you will need to set your Accounts Payable account to the Account type of "P - Payable", and then enter your default A/P bank account that was setup in Step #2.

4.	Vendor Sub-Account: You will need to setup a Sub-Account for each vendor you want to write checks and record history information.

To use A/P see Accounts Payable Checklist