WolfePak's Accounts Payable system shares data with the general ledger, forming an integrated, seamless program for tracking and paying your vendors and the appropriate re-billing of critical investor expenses through the integrated Joint Interest Billing Module.
- Complete integration with Core modules (GL, AFE, JIB, Lease Operating Statements, 1099, Bank Reconciliation, etc )
- Updates common integrated Bank Reconciliation system for easy account balancing and allows for sharing or separate cash accounts for Revenue Distribution and/or Payroll
- Ability to print checks on preprinted, numbered check stock or on blank check stock complete with MICR encoding
- Write checks based on due date and/or vendor and/or simple selection of which invoice(s) you want to pay
- Electronic Review and Approval process prior to cash disbursements. One or more review/approvers can be defined and be required prior to any cash distribution.
- Full audit trails of creator, reviewer, and approver of all invoices being entered.
- User permissions allow for control of available module functions by login for security purposes
- Support of partial payments of invoices
- Tracking of all 1099 reporting and functionality
- Positive pay file generation for controlled check clearing
- Automatically accrue State Use Tax
- Print historical Cash Disbursement ledger for any date range and/or check# range that provides for each check written, a list of invoices being paid and optionally the account and cost center expense coding detail for each invoice
- Print historical open item listing for any prior date providing auditors the level of detail they need long after the close of the period
- Invoice coding report that will summarize the current or historical open items by the account and/or cost centers the invoices are coded to
- Vendor inquiry tracks purchases & payments for each vendor
- Duplicate payment checking based on invoice number and/or amount
- Quick, easy data entry. Add vendors and account information without leaving your entry screen. Automatically default expense coding entries to reduce entry time (either just simple default account or one or more complex coding sets for the vendor to default to)
- Tracks insurance certificates and generates letters requesting new certificates
- One-click option to print W-9 and/or insurance request for new vendor.
- Vendor insurance expiration warnings on open a/p invoices
- Import A/P invoices electronically
- Special Credit card processing allows invoices to be marked paid by credit card allowing tracking by original vendor and matching up with a credit card statement
- Easily change due dates on unpaid invoices
- Quickly void checks or invoices
Optional Add-On Modules
A/P Approval Routing