Payables
The Payables application is used for recording and paying vendors to whom your company owes money. Payables can be inventory purchases, office expenses, utility payments, mortgages, or almost any other type of payment your company makes. For the purposes of documentation, we will refer to all payees of payable items as "vendors."
Billing Entry
Bills (invoices) are entered in this area. An invoice number can be assigned matching the vendor's invoice number. A separate document number is also generated. The invoice number becomes the "reference" assigned to the document. The Document viewer (from the tools at the top of the Spruce window) can be used to find documents by the "reference" (in this case, the vendor's invoice number). When invoicing inventory purchases, receipts of inventory can be copied in to this activity to minimize entry and compared with the vendor's invoice at that time so that discrepancies (if any) can be reviewed.
Schedule Payments
This activity is used for designating the invoices that will be paid by the next disbursement (check run). The status of the invoices is updated when payments are scheduled and can be manually adjusted before the disbursement if changes are necessary. Invoices can also be unscheduled from this activity.
Disbursements
Disbursement is the process of paying the vendors by printing checks and marking the associated invoices as paid. A laser printer with two (2) trays and a specific pre-printed form is required for printing checks. Vouchers print on a full page only (8-1/2" x 11 paper).
Check Register
This area is used to view and manage paid checks from prior disbursements. Deposits and other adjustments must be entered manually, and checks must be marked canceled when attempting to balance to a bank statement. Full use of the register is optional (a company may decide not to maintain the register for use with balancing).
Cash Requirements
This activity produces a listing of totals for invoices, receipts, and purchase orders relevant to future periods that the user specifies. Four periods can be specified in days resulting in 5 aging totals. The user can select the particular types of totals they would like to see as well as whether the date used is the discount or due date (applies to payables only).
Special Topics
This section provides additional topics related to Payables that may be useful to you. These topics include: