Accounts Payable (AP)

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 AP Vendors

Here is the new version of this article in the Veracross Community. 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...

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

Here is the new version of this article in the Veracross Community. 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 A...

AP Invoice Manual Scheduling

Here is the new version of this article in the Veracross Community. 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 Account...

Cancelling an AP Invoice Item

Here is the new version of this article in the Veracross Community. 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...

Correcting AP Invoice Item Amounts

Here is the new version of this article in the Veracross Community. Step-by-Step Go to the Accounts Payable homepage. Under the General section, click on AP Invoice Header Listing query. Either enter the desired Invoice Number into th...

Creating AP Invoices from a Purchase Order

Here is the new version of this article in the Veracross Community. 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 selec...

Creating Recurring AP Invoices

Here is the new version of this article in the Veracross Community. Step-by-Step Use Case: If you have invoices that you receive regularly that have the same line items, but perhaps with different amounts, this approach may be helpful. ...

Credit Memos

Accounts Payable is used to enter credit , 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 AP 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

Here is the new version of this article in the Veracross Community. Overview Sometimes you will have an invoice for a vendor that you do not plan on using again. In cases such as this, you can use our One-Time Vendor functionality. Instea...

Entering Prepaid AP Invoice Items

Here is the new version of this article in the Veracross Community. 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 D...

How to Enter an AP Invoice

Here is the new version of this article in the Veracross Community. 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 Nu...

Accounts Payable Workflow - Decision Tree

Here is the new version of this article in the Veracross Community. Overview This article serves to provide a "birds-eye view" of the AP Workflow and the decisio ns that are made throughout the process. This article begins with a vi...

How to Enter an AP Vendor

Here is the new version of this article in the Veracross Community. 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 S...

AP - The Void Matrix

Overview This article details the different scenarios where voiding a check may be necessary (and when it isn't), and the appropriate actions that the user should take to properly void the disbursement. The circumstances surrounding the reason ...

How to Post an AP Invoice

Here is the new version of this article in the Veracross Community. 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...

Issuing Multiple Checks to the Same Vendor

Here is the new version of this article in the Veracross Community. 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...

Merging Duplicate Vendors

Here is the new version of this article in the Veracross Community. Step-by-Step Run the “Merge Vendor Query” located in the System Workspace in the Accounts Payable section. In the Query Design, click on the Query tab. Notice t...

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

Here is the new version of this article in the Veracross Community. 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. ...

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

Here is the new version of this article in the Veracross Community. 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 ...

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.

Correcting AP Invoice GL Accounts

Here is the new version of this article in the Veracross Community. Step-by-Step Note: To correct the GL Account used on an AP Invoice, the system "transfers" the amounts between the GL Accounts when you execute the following...

Transferring Prepaid AP Invoice Items in Batch

Here is the new version of this article in the Veracross Community. 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 r...

Transferring Prepaid AP Invoice Items Manually

Here is the new version of this article in the Veracross Community. 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&r...

Un-Scheduling AP Payments in Batch

Here is the new version of this article in the Veracross Community. Step-by-Step To locate the desired AP Invoice Payments to be Un-Scheduled, access the Accounts Payable homepage and under the “Reports” section, click on the Sched...

Un-Scheduling AP Payments Manually

Here is the new version of this article in the Veracross Community. Step-by-Step Navigate to the AP Invoice Header that should be unscheduled for payment. From the AP Invoice Header, select “Unschedule AP Payment” in the Action Men...

Voiding an Unissued AP Check

Here is the new version of this article in the Veracross Community. 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” di...

Voiding AP Checks

Here is the new version of this article in the Veracross Community. 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...

Enter a Payment for AP Made Outside of Veracross

Here is the new version of this article in the Veracross Community. Overview Sometimes you may need to issue a manual-handwritten check or record a payment made by wire transfer or direct bank debit outside of Veracross. Even though the...

Processing Positive Pay and ACH Files

Here is the new version of this article in the Veracross Community. 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 yo...

Cancel an AP Invoice Header

Here is the new version of this article in the Veracross Community. 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. ...

How to Add an AP Invoice for a One-Time Vendor

Here is the new version of this article in the Veracross Community. Overview Sometimes you will have an invoice for a vendor that you do not plan on using again. Instead of adding a separate master file record for this vendor, set up a O...

Can I create an asset from the AP Invoice?

Here is the new version of this article in the Veracross Community. Yes, if you have the Property Control module, you will be able to create an asset from the AP Invoice. To accomplish this: On the AP Invoice, drill into the AP It...

Paying a Credit Card Statement before Receipts have been Received

Overview This process is intended to be used when a Credit Card/Purchasing Card statement needs to be paid before the Business Office has received receipts from cardholders, and the final Expense Account is not yet known. This process does require ...

Processing AP Invoices with HST/GST Tax

Now in Salesforce: https://magnushealth.lightning.force.com/lightning/articles/Knowledge/Processing-AP-Invoices-with-HST-GST-Tax Overview The purpose of this article is to outline the Step-By-Step workflow to process HST and GST Tax and rec...

Accounts Payable FAQ (3)

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