Accounts Payable
Streamline controls
Major Functions
Accounts payable transactions are major functions within most First Nation departments. The question then becomes, how quickly can payments be processed without compromising internal budgetary controls and or internal or external reporting requirements?
The Xyntax® Accounts Payable (XyntaxAP™) module uses a double-entry bookkeeping system to automatically balance system postings thereby creating a cleaner audit trail. Xyntax’s extensive inquiry screens and reporting options can be customized to fit any departmental or corporate structure. Regardless of the size of First Nation, with the Xyntax Financial Management System your Nation can be accommodated with complete security and data confidence.
With Xyntax, you get a clearer picture of the Nation’s operations. You’re able to maintain control over the entire accounts payable process, and proprietary integration with both XyntaxCD™ and XyntaxGL™ will increase productivity without increasing workload.
Designed to reduce redundant posting routines, and eliminate time-consuming import/export routines, isn’t about time you start using a financial system built for your needs?
Highlighted Features
Track Payments Paid-to, and On-behalf-of Members
XyntaxAP allows you to pay, track, and report on payments “paid-to”, or “on-behalf-of” both band members and suppliers.
‘Per Capita’ Distributions
Pay band member an amount you specify, with little or no effort. No more late nights creating invoices for each band member. Integration with XyntaxCD means XyntaxAP will go through your entire community database, and cross-reference each individual for you— then with a click of a button, payments are produced, paid-to, or on-behalf-of members.
On-Demand Reporting
XyntaxAP is up-to-date as payments are made. No more importing/exporting routines. No more redundant data entry. No more wondering if something has been “updated”, and no more time-consuming reconciliation of clearing accounts just to get the reports you need.
Enhanced Budgetary Control
In addition to increased budgetary control, integration with Xyntax® Purchase Order system eliminates duplicate entry of purchase information – simply select the PO for payment, and all data is automatically filled out
Key Benefits
Integrated with all Xyntax modules (CD, GL, GST PO, SA, PSE, CW, PT, CHRM).
'Real-time’ or batch transactional posting for optimum control, and efficiencies.
Post across companies or departments based on user security settings.
Xyntax Quickpay™ for expedited LaserChek™ or EFT processing (45-60 seconds).
Voiding of cheques automatically creates reversing entries in GL.
Complete on-screen drill-down from General Ledger to Accounts Payable and vice versa.
Accounts payable transactions are automatically reconciled and updated to the General Ledger.
Track payments either paid to and or on-behalf-of band members.
Payment tracking by Supplier or Band Member.
Trap duplicate invoice numbers across Companies and Departments.
Unlimited supplier transaction history.
No mandatory month-end or year-end procedures.
No reconciliation of clearing accounts required.
Utilize DoculinX™ to attach, scanned electronic documents directly to financial transactions within your Accounts Payable (i.e., invoices, receipts, supporting documentation, etc.).
