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The SILVERLAKE Accounts payable application enables the
institution to enter creditors into the system, track all accounts
payable, enter invoice transactions, reverse invoice entries, if
necessary, and enter credit memos. History is tracked for all
creditors, including a detailed record or each transaction. The
history can be retained as long as desired.
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Checks can generated by the system, typed manually, or a combination
of both. If desired, payments to creditors can be deposited into a
checking account at your institution.
The Accounts payable application is fully integrated with the
SILVERLAKE Customer Information File. All transactions generated
interface with the Jack Henry and Associates, Inc. General Ledger
application.
Payments to individual vendors can be split by percentages or dollar
amounts to go to specific general ledger expense accounts, complete
with profit or cost center information. Automatic federal and/or
state withholdings, as well as the printing of 1099 forms, can be
provided at either the vendor or CIF level.
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Other features include:
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Payment may be made by check, a deposit into an account with the
institution, or ACH entry.
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Custom notice wording.
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May split expense between multiple general ledger accounts and cost
centers.
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Track purchase orders.
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Setup recurring payments.
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