Accounts Payable
Accounts payable and vendor management made simple
Canopy’s Accounts Payable module gives you powerful vendor management options. With Accounts Payable, you can manage all aspects of your payable and disbursement activities and requirements.
Features
Flexible Options
- Bank reconciliation
- Support foreign currency and exchange rates
- Void previously-posted checks
- Unlimited terms, aging types, and vendor classes
- Wide range of check entry features
- Wide variety of accounts payable reports
Vendor Management
- Vendor inquiry to lookup invoices and purchase orders, and to check history
- Print vendor lists, labels, and notes
- Three-way matching between the purchase order, invoice, and received product quantities and costs
- Handles recurring invoices such as rents and leases and generates payment at their proper cycle
- Track expenses by job code
Manage vendor invoices more efficiently
Enter invoices manually, or set up recurring invoices for items paid on a normal cycle. When entering an invoice, you can match the purchase order quantities and costs with the vendor’s invoice. Any discrepancies can be e-mailed to the buyer.
Use a wide variety of check cutting features in Canopy to align with your check paying habits and frequency. Print checks and create a Positive Pay transmittal file to send to your bank for checks to cash. Create payment entries that were made via Wire Transfer. Pay vendors using ACH to create a file to send directly to the bank.
Use fast, on-screen methods of looking up historical data for vendors. Drill deep down into the data to see what invoices a check paid, the PO product detail associated with an invoice, and the General Ledger accounts an invoice was posted to.
Print 1099’s with the option to file them electronically. The Bank Reconciliation module allows you to reconcile your bank statement with the General Ledger checking account. When voiding a check, the system will automatically re-open the invoices on the check and reverse the entries made to the General Ledger.