COMET Accounts Payable Application

A remarkably easy-to-use, flexible, invoice-based, open item Accounts Payable application that saves you from paying more than you should, going over budget or losing control of your cash flow. And that’s just for starters.

The COMET Accounts Payable application is a powerful way to control every cent your facility pays out, while saving money, reducing errors and increasing efficiency.

 

Because it lets you maintain a vendor's history, you'll be in a stronger situation to negotiate volume discounts. And you'll see what a payment run will be before you approve it – because the simulation option will show you.

 

It's also equipped to keep you within budget by letting you maintain actual expenditures against the budgeted ones. And thanks to automatic recurring voucher generation, you save time and greatly lower the chance of errors.

 

Bottom line: this is the Accounts Payable application that really pays for itself.

 

This is only one of the vast array of COMET's LTPAC software solutions.

 

Benefits

  • Maintains a complete vendor history to assist in negotiating volume discounts.
  • Use the simulation option to see what a payment run will look like prior to giving final approval – run the simulation as often as necessary to ensure the desired result.
  • Maximize cash savings with automatic calculation of discounts.
  • Stay within budget – use the system's reporting capabilities to monitor actual vs. budgeted expenditures.
  • Save time with automatic recurring voucher generation.
  • Prevent overpayments with duplicate invoice detection.

 

Features

  • Invoice-based, open item system.
  • Automatic check writing by voucher, due date or on demand.
  • Void and credit memo capability with automatic General Ledger interface.
  • Flexible check print and hold options.
  • Allocate invoices across multiple accounts and companies.
  • Process and print 1099 forms.
  • Accommodates multiple bank accounts.
  • Set up standard default payment terms with ability to override for any vendor.
  • Manual check generation with manual check register. Provides for automatic conversion of computer check to manual check without re-entering check data.
  • Bank reconciliation.
  • One-time vendor tracking.
  • Multi-institutional capability.
  • Multi-period processing.

 

Reports and Queries

  • Vendor Catalogue
  • Accounts Payable Aging Reports
  • Open Item Lists – detailed and summary
  • Check Registers
  • General Ledger Distribution
  • Journals – Cash Disbursements, Purchase and Discounts Taken
  • Month, Quarter and Year-End Reporting