Use the Accounts Payable (AP) module to enter supplier invoices for purchases that you make and then create checks, payment instruments, or generate bank electronic funds transfer (EFT) files for the invoices you want to pay. The Epicor application can generate payments for invoices due, those for a particular supplier, or only for specific invoices. If a supplier calls you to discuss an invoice, you have complete information at your fingertips and that history can be kept indefinitely.

You use the Accounts Payable functionality to update both purchase orders in Purchase Management, as well as actual job costs. Adjustments are created if the purchase price does not match the invoiced price. With Accounts Payable, you know how much you owe and when it is due.

Key Concepts of Accounts Payable Processing
• In an interfaced environment, Accounts Payable (AP) and expense-related general ledger (GL) accounts are defined using GL control codes and GL control types.
• An AP Clearing account is required, as it acts as the Accrued (Unvouchered Receipts) account.
• Invoice and payment transactions are posted to the GL using a group methodology.

Typical Process Flow
• Enter a purchase order (Purchase Order Entry).
• Receive goods and services against that purchase order (Receipt Entry).
• Recognize liability for goods received (AP Invoice Entry).
• Process cash disbursements for outstanding invoices (AP Payment Entry).
• Record supplier returns when necessary (AP Invoice Entry - Debit Memo).