Accounts Payable (AP)

This section goes over the functionality behind the Accounts Payable (AP) portion of Veracross's Business database.

Articles

Accounts Payable (AP) Overview
Processing cycles are a list of multiple functions that are all needed to accomplish a particular goal. The individual steps of the invoice and payment cycles are important to delineate separately.
Adding and Updating Vendors
Overview Vendors can be added and updated as needed. In addition to “regular” vendors, one-time vendors can be added for those you plan on using only once. Entering a New Vendor To add a vendor, first navigate to the Accounts...
AP Invoice Adjustments
Once an invoice is posted, the amount and expense account of the original invoice items cannot be changed. Instead, adjustments must be created. At the invoice header, you may only cancel the unpaid amount of the entire invoice.
AP Invoice Batch Scheduling
Step-by-Step Run the Unpaid AP Invoice Report and review the items there. Note the “Begin and End” Invoice Dates of all the unpaid AP Invoices. To schedule all AP Invoices for payment using the batch process, click on the Schedule ...
AP Invoice Manual Scheduling
Step-by-Step Open the desired AP Invoice and click on the “Schedule Payment” tab. Toggle “Pay In Full?” to Yes. Click Update. Navigate to the Accounts Payable homepage – a non-zero number should be reflected next t...
Cancelling an AP Invoice Item
Step-by-Step On the Accounts Payable homepage and click on  Find an AP Invoice under the General section. Click the Invoice that you want to adjust. Select the Adjust tab. Drill into the items detail screen and navigate to the adjust ta...
Correcting AP Invoice Item Amounts
Step-by-Step On the Accounts Payable homepage and click on Find an AP Invoice under the General section. Click the Invoice that you want to adjust. Select the Adjust tab. Drill into the items detail screen and navigate to the adjust tab. &nbs...
Creating AP Invoices from a Purchase Order
Step-by-Step On the Accounts Payable home page, click  Add an AP Invoice or  Find an AP Invoice . Enter the basic header information if adding an invoice or select the invoice to be updated. Enter and validate the PO number on the G...
Creating Recurring AP Invoices
Step-by-Step Go to the Accounts Payable homepage and enter in an AP Invoice and AP Invoice Item(s). On the AP Invoice, go to the General Tab. In the box labelled “Number Recurring Invoices”, enter the desired number of additional i...
Credit Invoices
Accounts Payable is used to enter credit invoices, which are them processed for vendors to offset invoices that have been entered, posted, and paid. A credit invoice is processed instead of an adjustment when a paid invoice has an incorrect amount, an item is returned to the vendor for a refund, or the vendor issues a credit.
Entering and Editing Invoices
AP functions include processing vendor invoices, payments, and adjustments. As invoices are processed, related journal entries are made to the general ledger.
Entering a One-Time AP Vendor
Step-by-Step to Create a "Reusable" One-Time Vendor On the Accounts Payable home page, click Add a Vendor . Fill in the relevant information. Toggle the “One-Time Vendor” field to “Yes”. Click Add Vendor. ...
Entering Prepaid AP Invoice Items
One-Time Setup Confirm the GL Default setting for “Prepaid Expense Accounts” has been set appropriately.  You can find this on the System homepage under GL Default List . Entering a Pre-Paid Invoice On the Accounts Payable...
How to Enter an AP Invoice
Step-by-Step On the Accounts Payable homepage, click on the “Add an AP Invoice” link. Enter the required information for an Invoice Header: Vendor Name, Invoice Number, Description and Invoice Date. Press the “Add AP Invoice He...
How to Enter an AP Vendor
Step-by-Step On the Accounts Payable home page, click Add a Vendor. Fill in the relevant information. Click Add Vendor. Note:  a user will need the security role of SysAdmin_1 or Business_1 to have the ability to add or remove the Vendo...
How to Post an AP Invoice
Step-by-Step Manually Within an AP Invoice, navigate to the  Adjust tab and specify a Temp Posting Date.   Click Update. In the Action Menu, select Post Invoice.   This will post the invoice to the Temp Posting Date that was s...
Issuing Multiple Checks to the Same Vendor
Step-by-Step Navigate to the Scheduled Payments Report on the Accounts Payable homepage. Click on the Invoice Number of the Vendor that you would like to issue separate checks to. On the AP Invoice, navigate to the Sched. Payment tab and locate ...
Merging Duplicate Vendors
Step-by-Step Run the “Merge Vendor Query”. In the Query Design, click on the Query tab. Notice that “Merge Duplicate Records” is highlighted.  In the right panel, choose ‘Vendor Name’ in the description...
Posting Invoices
When invoices are posted, the journal entries are created that debit the expense accounts and credit Accounts Payable (AP). The invoices are also locked against certain types of updates. Invoices must be posted before they can be scheduled for payment.
Preparing and Printing 1099 Forms
The Veracross Accounting system possesses the capability of recording 1099 information, and calculating and printing 1099s for all designated vendors.
Printing & Posting AP Payments
Step-by-Step Before printing checks for Scheduled AP Invoices, review the Scheduled Payments Report to confirm the number of items and dollar amounts to be paid is correct. To print checks for all AP Invoices currently scheduled for payment, cl...
Printing & Posting Vendor Checks
When invoice payments have been scheduled and verified, checks may be printed. Veracross allows for multiple attempts at printing a batch of checks, however, there may be only one active check batch at a time.
Refunding an AP Invoice with a Credit Unpaid Amount
Step-by-Step From the Cash Processing homepage, go to the Receipts section and click on the Add Cash Receipt link, to enter the receipt. Fill in the receipt information and be sure to select “Refund” as the Cash Receipt Category. P...
Scheduling Vendor Invoice Payments
By scheduling payments, a tentative schedule of invoices and/or invoice items to be paid can be created. Once the scheduled payments have been verified, checks can be printed for each vendor.
Step-by-Step AP Invoice Cycle
Please read below about the steps taken in the Accounts Payable Invoicing Cycle.
Step-by-Step AP Payment Cycle
Please read below about the steps taken in the Accounts Payable Payment Cycle.
Transferring AP Invoice Items to Different GL Accounts
Step-by-Step On the Accounts Payable homepage and click on  Find an AP Invoice under the General section. Click the Invoice that you want to adjust. Select the Adjust tab. Drill into the items detail screen and navigate to the adjust ta...
Transferring Prepaid AP Invoice Items in Batch
Step-by-Step On the Accounts Payable homepage, go to the Vendor Maintenance Processing link under the Processing section. Choose Option Code 10 and enter the deferral data range. Press Add Vendor Maintenance Processing. New AP invoice Items h...
Transferring Prepaid AP Invoice Items Manually
Step-by-Step When ready to initiate Transfer Prepaid Items, navigate to the AP Invoice Header. Click on the Action Button and select the “Transfer Prepaid Items” option. Click Update. New AP Invoice Items have now been create...
Un-Scheduling AP Payments in Batch
To locate the desired AP Invoice Payments to be Un-Scheduled, access the Accounts Payable homepage and under the “Reports” section, click on the Schedule Payments Report link. The Scheduled Payments Report results will appear and cli...
Un-Scheduling AP Payments Manually
Step-by-Step Open the desired AP Invoice and click on the “Schedule Payment” tab. Toggle “Pay In Full?” to No. Click Update. Navigate to the Accounts Payable homepage – one less number should be reflected next to t...
Voiding an Unissued AP Check
Step-by-Step Navigate to the Cash Processing homepage and under the Disbursements section, click on the  Enter Void Checks link. Once the “New Void Check” display appears, enter in the appropriate information (void date, first c...
Voiding AP Checks
Step-by-Step On the Cash Processing homepage, open the link titled  Disbursement Header Listing . Enter query criteria that will result in the presentation of the check to be voided and run the query. From the Results grid, locate the che...
Processing Positive Pay and ACH Files
Overview If your school pays vendors via ACH or if your bank requires a Positive Pay file to confirm checks that are written, the ability to generate these files according to your bank's specifications would have been created and tested during ...
Cancel an AP Invoice Header
Step-by-Step On the Accounts Payable homepage and click on Find an AP Invoice under the General section. Click the Invoice that you want to adjust. Select the Adjust tab. Toggle Cancel to YES. Enter in a Temp. Adj. Date to match the original...