CoreCT Vision Accounts Payable Module - PowerPoint PPT Presentation

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Title:

CoreCT Vision Accounts Payable Module

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... Forms, Banks, Bank Accounts. Process Withholdings/ Garnishments. Process ... Agency level Voucher Entry, Approval & Budget checking with real-time updating ... – PowerPoint PPT presentation

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Title: CoreCT Vision Accounts Payable Module


1
Accounts Payable Module
  • Module Integration
  • Module Overview
  • Key Features/System Benefits
  • Process Walkthrough
  • On-Line Walkthrough
  • Questions/Clarifications

2
Module Integration
Projects/Grants Data
Asset Data
Copy PO/Recver
Asset Data
RTV
Asset Load
Projects/Grants Data
Vouchers (Inter-Unit)
Payables Process
Refunds
Journal Generator
Paymt file (Inter-Unit)
Grants
Note All dark blue objects are Phase 2
3
Module Overview
Define and Process Payments
Establish Pay Cycle
Define Payment Forms, Banks, Bank Accounts
Cancel Payments
Enter and Process Vouchers (invoices)
Forecast Cash Requirements
Process / Manage Payments
Process Escheats
Reconcile Bank Accounts
Reconcile AP Liabilities
Process Withholdings/ Garnishments
4
Key Features
  • Minimal General Ledger Reconciliation
  • System down-time eliminated at Fiscal Year End
  • Non-Reportable Vendors Handled in Regular Vendor
    File
  • Electronic Upload for high-volume Non-Reportable
    Vendors
  • Foreign Mail handled easily

5
Key Features
  • Automated Generation of Recurring Vouchers
  • Electronic Voucher Approval to improve efficiency
  • Agency level Voucher Entry, Approval Budget
    checking with real-time updating
  • Payment Scheduling for better Cash Management
  • Agency Payments consolidated by Vendor

6
Key Features
  • Expanded Remittance Advice
  • Increased functionality for Electronic Vendor
    Payments
  • Optional use of Grouping Payment Vouchers
  • Full Petty Cash functionality
  • Enhanced Procurement Card payment processing

7
AP Process Flow- Enter and Process Voucher from
P.O.
1042-S APPLICABLE
PURCHASE ORDER
POST PROCESS PYMTS
CREATE VOUCHER
VENDOR INVOICE
BUDGET CHECK VOUCHER
MATCH VOUCHER
APPROVE VOUCHER
POST VOUCHER
PAYROLL PROCESS
ONE-TIME VENDOR VOUCHERS
Central Agency
ON-GOING VENDOR VOUCHERS
External Applications
HRMS PAYROLL (BENEFITS)
8
Process Walkthrough
Enter and Process Voucher
  • Create Voucher from Purchase Order/Receiver
  • Budget Check Voucher
  • Match/Approve/Post Voucher
  • Process Payment
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