Accounts Payable

Accounting Software Vendor Master Accounts Payable

Fleet-Net Accounts Payable is an open invoice accounting software system designed to process outstanding invoices, make vendor payments, and generate journal entries for the general ledger.

Invoices are processed on an open invoice basis.  Recurring expenses for can be recorded automatically if established in a fixed expense file.

Expenses associated with a given invoice can be distributed to multiple expense accounts across multiple divisions.  If an invoice is paid during the discount period, the discount is taken automatically. If the Vendor Master file is updated w/Net Due, the Due Date field during invoice entry is automatically populated.

A purchase order reference is on file for each invoice.  Various automatic pay options are available for specification at payment time.  Accounting software options include manual payments, on‑account payments, invoices eligible for discount, invoices for a given vendor, invoices due within a specific time frame, and fixed expenses.  A hold status assigned to an invoice prohibits its payment.

Accounts Payable includes a payables register, aged trial balance, and vendor checks.  Also included is an auto checkbook where A/P checks and Payroll checks are automatically posted.  An on‑line vendor inquiry is also included.

All journal entries associated with accounts payable are automatically transferred to a general ledger holding file for update to general ledger at user’s discretion.  Fleet-Net allows for use of either the cash or accrual method of accounting.