Invoice entry

If you set up vendor defaults, just entering a vendor number can be enough to complete the rest of your invoice automatically! All defaults are easy to override and can be altered for a given invoice at the point of data entry.

Recurring Invoices

Accounts Payable also gives you the ability to set up invoice templates for any invoice you receive on a regular basis. Then generate invoices from the template automatically on a daily, weekly, monthly, quarterly or yearly basis. You can limit the number of times an invoice can be generated from a specific template, and most regular invoice features are supported, including discounts, retainage, sales and use tax, pay status, pay classes, etc.

Invoice Due Alerts

Receive conditional or scheduled alerts of due, approaching due or past due invoices. FOUNDATION automatically emails you a custom report detailing each relevant invoice. Or, simply keep your project managers in the know with regular reports on new invoices entered for their jobs.

Flexible invoice payment

With FOUNDATION construction software, you can simplify the process of paying your invoices by using flexible payment selection options that can include a combination of due dates, discount dates, vendor statuses, invoice statuses, job numbers and retainage releases. You can also select individual invoices, pay part of multiple invoices or select individual line items on an invoice.

Easy Reviewing for Accuracy

If you need to analyze your outstanding invoices, you can run the Cash Requirements or A/P Aging Reports. The pre-check register feature also allows you to preview the impact of your invoice payment before checks are printed.

Worry-Free Check Printing

Numerous features in FOUNDATION construction software make the process of printing checks easy.

  • Make payments by writing checks manually, paying invoices at the point of entry or printing them as part of a normal check run.
  • Apply any number of invoices against a check and any number of partial payments against a single invoice.
  • Print one check per vendor for multiple invoices, or print multiple checks per vendor in a single check run.
  • Write joint checks to multiple entities.
  • View check previews to verify accuracy before printing.
  • Have each cash account’s next check number default in sequence, or override the check number on a single check.
  • Correct any problem within a check run, such as a printer jam or wrong check number, rapidly and simply before posting.
  • Never forget to print check registers for your records with FOUNDATION’s convenient prompts.
  • Reprint individual or combined check stubs at any time.

Audit Trail

As with all FOUNDATION modules, important information like invoice posting and transaction dates is securely saved within FOUNDATION, so you can run reports for any date range and review full, comprehensive histories to maintain the integrity of your books. Invoices can be aged by invoice date, transaction date or due date.

When you or your employees need to make adjustments, reversals or voids, all information from both the adjusting transaction and the original transaction is maintained. This creates a complete and date-sensitive audit trail. All posting logs and registers are assigned a unique identifier at the time of posting, printed at the top of each posting log and attached to the record of General Ledger transactions. The availability of transaction-source detail allows for accurate reviewing and auditing of your accounts. It also ensures that your vendor history, General Ledger and Job Costing are protected and remain in balance.

Quick Adjustments, Voids and Credit Memos

The construction industry requires flexibility, so your construction accounting software needs to be flexible too. FOUNDATION is designed for the day-to-day flow and the unexpected changes that hit a construction office. We make it easy to adjust payables, even after they’ve hit the General Ledger, and our Quick Reversal feature helps you void payments in one simple step—leaving a full audit trail.

Better Control of Subcontractor Payments

Managing subcontractor payments is crucial to your cash flow, and FOUNDATION makes sure the right amount of retainage always defaults in for subcontractor payments. You’ll also be warned about expired liability or workers’ compensation insurance.

And because Accounts Payable is integrated with the PO/Subcontract Module, you’re protected from being over-invoiced for agreed upon amounts.

Make Payments When the Time’s Right for You

FOUNDATION gives you all the tools you need to manage your payables efficiently. Monitor due dates (company-wide or for certain vendors or jobs) with FOUNDATION’s A/P Aging Report, create ACH files to get vendor payments out the door quickly, and use FOUNDATION’s built-in reminders to make sure you never miss a discount date.

Easy Year-End Transitions

Year-end can be stressful for accounting departments. In addition to year-end closing, there are also forms like 1099s that need to be completed.

With FOUNDATION, financial periods are flexible and date-sensitive, so you can adjust prior periods at any time. The same goes for 1099s, which can be printed even after you’ve started processing this year’s payables. And, for extra convenience, you can choose between printed or electronic 1099s for hassle-free filing.