Checkbook

Accounts payable and checkbook

Introduction
Description

The Checkbook system is actually a combined Accounts Payable system and a Checkbook system. This system allows you to enter any unpaid bills and either write the checks immediately or hold the invoices for later payment. You also have an option to simply enter and print a check immediately. The system also allows you to record your deposits and miscellaneous bank charges. You can work from any number of bank accounts. The system will continually display the bank balance for any bank account.

The system provides a bank reconciliation feature. It also prints your check registers, receipts journals and various other reports. It should provide every report you need to properly pay your bills and maintain your Checkbook.

One of the main features of this system is that it will capture all of your bank transactions and transmit them to your accountant or to the General Ledger system. This will not only allow you to save much time in paying your bills, but it will also save you or your accountant the time that is now being spent in entering your transactions into a General Ledger system.

This system will handle fund accounting. It will also create all inter-fund transfers.

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Highlights

The system can be run as a simple Checkbook system, or as a complete accounts payable system. If you choose to utilize the accounts payable features, invoices can be entered into the system as they are received. Following are some special features of the invoice entry program.

  • Vendor records can be set up as invoices are being entered 
  • Vendor search features available as invoice is being entered
  • Invoices can be spread to multiple General Ledger numbers or multiple funds
  • General Ledger allocations can be automatic on existing vendors 
  • Invoices can be coded for payment from any bank account 
  • System will warn you if invoice has been previously paid.
  • Invoices can be entered and retained for unlimited time before payment is authorized 
  • Provides comment section on each invoice which can contain Purchase Order Number etc. 
  • General Ledger accounts can be set up as invoice is entered 
  • Invoices can be coded for immediate payment, allowing a check to be printed without further selection or approval 
  • Invoice can be deleted from your unpaid invoice file, if it is determined that an invoice should not be paid. The system can reverse any accounts if the invoice has already been posted. 

Standard Reports