Accounts Payable Software

Written by Nicholas Kamuda
Bookmark and Share

Current versions of many municipal government computerized accounting programs include accounts payable software modules. Such accounting programs can automate many functions of an office's financial system, including analyzing current cash position relative to budget, processing income, and reporting on expenditures. Many programs can handle large numbers of cash and payable accounts, and automatically generate reports on a variety of topics.

Expenditures Processing with Accounts Payable Software

Accounts payable software works as an integral part of the program's expenditures processing, along with the payroll and purchase order functions. Because many kinds of accounting software can be used in conjunction with human resources software for complete payroll control, easily handling complex employee payment logs and processing direct deposit information. Some software can also update budget and payroll modules via wage forecasting and estimating other costs.

Purchase order software tracks and catalogs both asset and vendor information. One convenient feature of such software modules is automatic encumbrance, which encumbers funds from a specified account when the purchase order is placed. The accounting software can also relieve the encumbered funds (by using the included accounts payable software) once the order is processed.

Many kinds of accounts payable modules will also handle unencumbered transactions, such as salaries. Users may also designate the module to handle multiple checking or cash accounts. The software will also generate detailed reports of the transactions, including payment selection reports, vendor history, and 1099-MISC forms.


Bookmark and Share