Meridian Feature: Accounts Payable
The Accounts Payable System allows each bank to build and maintain a list of the vendors that the bank does business with. The system further assists the bank with quarterly sales tax reporting by providing you with a report that shows quarter-to-date and year-to-date expenditure totals by vendor.
As you enter invoice vouchers, the system allows you to indicate which general ledger account(s) each invoice voucher should be allocated to. When you perform an accounts payable update, the system then automatically generates the general ledger entries necessary to expense the vouchers you have entered, thus eliminating the need for manual tickets. Finally, the system produces the actual checks for the vendors you have posted invoice vouchers to.
Features:
- The program allows for expense checks carried in a G/L account or a DDA account.
- Each vendor record includes a user-assigned vendor number, address, tax identification number (TIN), due days, discount days, up to three default G/L expense accounts, and your account number with the vendor.
- The voucher records include a system-generated voucher number, a voucher type (invoice, credit memo, or debit memo), vendor and invoice numbers, a status (pay or hold), invoice date, due date, and a remarks field used for descriptions.
- All entries to G/L accounts are interfaced automatically.
- Checks are automatically printed, and may be reprinted if printer problems are encountered.
- The system can generate 1099-Misc forms on the vendors of your choice.
Reports:
- Vendor Listing may be printed in either vendor number or alphabetical order.
- An Open Voucher List may be printed, showing all outstanding vouchers.
- An Aged Cash Requirements Report may be printed to show the timing of cash requirements.
- A Check Register is printed after each run of check printing.
- A Quarterly Use Tax Report may be generated at the end of each quarter.
- A General Ledger Journal Listing shows each transaction affecting G/L.
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