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The MasterTrak© Accounts Payable application provides a tool to enable the management and control of vendor invoices.This application allows the user to hold invoices to the last due date and to take advantage of discounts and retainers when appropriate, enabling the efficient management of cash flow.

The Accounts Payable application tracks invoices from the time they first enter the system until after they are completely paid.Each invoice may be assigned payment terms to determine the optimum payment schedule.Credit and debit memos may be applied to specific invoices and an on-screen display of all vendor invoices and the balance due is available. Once the invoice is paid, the system maintains an outstanding check balance table for check reconciliation and an invoice history to provide an audit trail for each vendor invoice.

 

General Capabilities

 

Check printing††††††††††††††††††††††††††††††††††††† User defined aging periods††††††††††††††††††† Cash flow analysis

Link to General Ledger†††††††††††††††††††††††† Miscellaneous vendors††††††††††††††††††††††††† Direct cash disbursements

Link to Job Cost†††††††††††††††††††††††††††††††††† Detailed invoice transactions†††††††††††††††† Multiple vendor remit to

Recurring vendor invoices†††††††††††††††††††† Subcontract management††††††††††††††††††††† Supports Retention

Payment Terms by Vendor†††††††††††††††††† Override Terms by Invoice†††††††††††††††††† Cash Requirements

Payment by Discount Date††††††††††††††††††† Payment by Due Date†††††††††††††††††††††††††† Payment by Vendor/Invoice

Preparation of 1099ís

 

Master Files and Transaction Entry

 

Vendor Master†††††††††††††††††††††††††††††††††††† Payment Terms†††††††††††††††††††††††††††††††††††† Subcontracts

Recurring Invoices††††††††††††††††††††††††††††††† Invoice Batches††††††††††††††††††††††††††††††††††† Manual Check Entry

Adjustment Batches††††††††††††††††††††††††††††† Computer Check Batches†††††††††††††††††††† Invoice History

Outstanding Checks††††††††††††††††††††††††††††† Vendor Contacts††††††††††††††††††††††††††††††††† Vendor Remit To

 

Reporting

 

 

††††††††††† Payable Checks††††††††††† Cash Requirements

 

††††††††††† Vendor Aging†† ††††††††††† 1099ís and Audit List

 

††††††††††† Invoice Aging†††††††††††††† Vendor Invoice History

 

††††††††††† Open Invoice Status†††† Check Reconciliation

 

††††††††††† Subcontract Report

 

 

 

 

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