The Information Technology, Inc. Accounts Payable System (APS) provides comprehensive
control of vendors, purchase orders, payables and checks, and introduces a new level of
automation for the effective management and payment of payables.

Advantages

APS simplifies the payment process, from payable entry, to payment approval,
to check production, and finally to check reconciliation.

To control payments, maintain activity history and simplify check production, vendor records are maintained for each person or business receiving disbursements.

Vendor records are a convenience but are not required for vendors billing payables
on a one-time or infrequent basis.

Purchase orders are used to confirm that a service or product has been ordered.

Payable entry is simplified by automatic insertion of a vendor's name and address,
expense allocations, year-end tax reporting information, terms and discounts,
all based upon vendor specifications.

Recurring expenses, such as rent, can be set up to eliminate repetitive
payable maintenance.

Vendor credit accounts, using multiple expense accounts, can be set up for any
credit received from a vendor.

Checking accounts are established in APS as the source of funds for payable
payments and are processed as either DDA or General Ledger accounts.

Payables are approved for payment using a display terminal, and can be approved
one at a time or in groups.

APS generates reports for reviewing new payables, new credit accounts, approved payments, past due payables, checks, and vendor outstanding credit amounts.

Tax reporting totals are automatically extracted from the APS files for
year end reporting.

For more on the Accounts Payable System, contact
Information Technology, Inc. at 402.421.4207.