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Financial Management, Accounts Payable (FMAP-001)

Introduction & Overview​

The Accounts Payable Process contains all the functions that you need to process all transactions that occur between your company and its suppliers. The module includes all the reports you need to keep on top of all the company's purchases, supplier invoices and payments and manage all your interactions with your suppliers.

The functions in the Accounts Payable module can be best described in the following flowchart.

You can access the step by step guides and video demonstrations for each function from the list below.

Terms: Process & Module

We use the term "Process" to describe the work that must be done in a specific area of your business and the term "Module" to refer to the set of functions in the Sense-i software that allows you to perform that work.

background information

To better understand the flowchart please read the Business PowerPoint, Levels of Work, and Understanding Function Types documents. These documents provide essential background information to understanding how the work and information in your business and the Sense-i system is structured.

note

There are several variations of this process, and within each, also several different ways a function or step in the process can be performed. Each industry has a unique set of rules and procedures that implement the best way to achieve a result. While the process flowchart above might look simple, the unique requirements for the industry and for each company are implemented in each of the functions in the Sense-i system.

Functions in the module​

The Accounts Payable module contains the following functions;

Profile Functions​

The profile functions enable you to store information about the suppliers with which your company interacts. This informtion changes from time to time, but tends to be static if it is accurately maintained, makes processing supplier transaction efficient and easy to do.

  • Supplier Payment Terms

  • Supplier Account Groups

  • Supplier Profile Information

Transactions​

The transactions enable you to capture details about the various transactions in the Supplier Purchases Domain.

The transactions in this module are:

  • Purchase Order Receipt

  • Purchase Order Invoice

  • Purchase Order Credit Note

  • Supplier Journal

  • Supplier Manual Payment

  • Supplier Bulk Payments

Report Functions​

The report functions in the system fall into two groups. Management reports help with the daily workflow and focus on what transactions are outstanding at any point in the Order Admin and Management Process, while Executive Reports enable you to review the all information related to supplier purchases and payments.

Management Reports​

  • Open Supplier Instalments

  • Aged Accounts Payable

  • Supplier Detailed Ledger

  • Unallocated Supplier Payments

  • Reconcile Supplier Accounts

  • Plan Supplier Payments

Executive Reports​

  • Supplier Projected Cashflow

  • Actual Purchases Report

  • Purchase Item Variance Report

Detailed Step-by-Step Procedures

Detailed Step-by-Step procedures and video guides exist for each of the functions in this module that will explain every action you need to take to successfully capture and work with the information in the system.

Simply click on any of the functions above to access the detailed Step-by-Step instruction.

Setup Functions​

To use the functions in the module, key information needs to be entered into the system. The setup functions allow you to enter this information which changes very rarely. The setup functions are:

  • There are not specific setup functions related to the Accounts Payable module.

The Accounts Payable module works with the following modules:

  • Product Design & Costing Process

  • Material Planning Process

  • Material Procurement Process

  • Raw Material Control Process

This is the end of the module overview.

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