kVASy-Accounts Payable

The kVASy - Accounts Payable module encompasses all payables which are entered into the system. This module was specially developed for the needs of utility companies, but can be employed in other fields as well. Within the Finance product line of the kVASy information system, the Accounts Payable module functions very closely with the modules kVASy - Accounts Receivable, kVASy - General Ledger, kVASy - Order Management, kVASy - Materials Management and kVASy - Meter Management.

Coupling with invoice receipt

The monitoring of records in the kVASy - Accounts Payable module begins with the receipt of invoice. Adjustable mechanisms in the system allow clearance for the entry of the receipt of invoice. In the case that invoices are not or only partly paid, the reduction and/or rejection mechanism is available, which also generates the appropriate correspondence letters. The original amounts remain in separate fields. The reductions can be verified in various reports.

Structured open item management according to business area

The kVASy - Accounts Payable module allows the separate entry of partial open items of an incoming invoice that are a component of an open item relating to different departments of the company. This is a prerequisite for the representation of liabilities according to category of the company’s statements.

Easy payment procedures

The payment record function group contains numerous functions (open item search, cancellation of payment, distribution of payments among business areas) which support all types of payment procedures. In payments of open items which contain partial open items of different companies, the necessary inter-company entries are automatically made through the offset accounts data incorporated in the master data. For larger investment projects, security deposits can be arranged or are required by the principal. The withholding of a complete or partial sum is possible as well. This process is managed in Accounts Payable through the representation of any number of differing due dates of partial open items.

Automated banking transactions

In banking transactions, the commonly used formats of data exchange are supported in both directions. Automatic payments can be made (for example, triggered by invoice receipt) and the automatic recording and entry of payments received by the bank can be carried out. Different payment models can by manually edited before processing. For customers with numerous entries, a statement (letter of advice) can be made. Discounts can be entered as income or as expense reductions on the accounts of the different parties.