Accounts Payable
Knowing what you owe, and when it's due, is the difference between managing cash flow and being managed by it. Accounts Payable gives you a clear, current picture of what's owed to suppliers and what's committed against outstanding invoices and purchase orders, so forward cash planning is based on real numbers rather than a guess.
Key Benefits
- Fast supplier lookup by account number, code or name
- Full VAT handling, including automated deductions
- Bulk payment selection with easy exception handling
- Faster, more accurate data entry with default coding
- Disputed invoices held and reported separately
- Automated recurring invoices
Easy Payment Selection
Invoices can be selected for payment in bulk, with exceptions easily added or removed before a run. Payments can then process automatically — cheques, payment advices or direct electronic payments through an online interface to major banks — or you can enter a manual payment at any time and hot-print a cheque or remittance advice directly from the system, useful for casual suppliers or one-off payments outside the normal run.
Tracking Suppliers
Suppliers can be found quickly by account number, short code, name or an abbreviation of any of these. Individual accounts can run on an Open Item or Balance Forward basis, switchable at any time, so you’re never locked into the wrong method for a particular supplier.
VAT
VAT is fully handled, with relevant details recorded against each supplier it applies to. Deductions are made automatically from payments and can be reported using the correct tax authority stationery, cutting out manual calculation.
Faster Data Entry
A default General Ledger expense account can be set against each supplier and displayed automatically during entry, so recurring invoices get coded correctly without manually checking the right account each time.
Invoice and credit transactions can also be posted directly into Greentree via F.R.E.E. (Greentree’s Excel add-in) or Data Import Manager, with full validation — Excel handles complex cost allocations and updates Greentree directly, and anything entered this way can still be edited in Greentree afterwards if needed.
Manage Disputed Transactions
Invoices can be placed on hold as soon as they arrive and released once your approval process is complete, keeping suppliers informed of what’s been received but not yet paid, while you keep visibility of upcoming cash flow requirements. Disputed invoices can be held and reported separately on the supplier’s aged balance report, rather than muddying the figures for everything else.
Recurring Invoices
Recurring invoices — rental charges or maintenance billing, for example — can be set up once and generated automatically whenever they’re due, rather than re-entered each cycle.
Buyer Recipient Tax Invoices
For industries where the value of a supply is established by the buyer rather than the supplier, Accounts Payable can print and send supplier invoices directly, hot-printed from invoice entry, with supplier-specific invoice formats available where needed.
External Bank Account Validation
Bank account formats can be defined by country, validating supplier and customer bank account numbers at the point of entry for direct credit and direct debit payments — catching errors before they turn into a failed payment or receipt.