Complete control over the entire Accounts Payable process? Yes, please.
The Accounts Payable module activates the tools and screens that are necessary in ASPIRE to control all aspects of the A/P process, including recording and managing incoming vendor invoices, and the ability to view the Vendor Invoice, Vendor Invoice Fundings and Purchase Order History.
The Module lets users create vendor purchase orders, process vendor invoices, and create one or many invoice fundings for each vendor invoice for equipment on a contract in ASPIRE, relating all on the contract. Purchase orders can be configured using document templates to meet your needs and sent to the vendor from the ASPIRE document repository. The funding of vendor invoices allows ASPIRE to calculate interim interest charges, to include support for the timing and amount of progress payments. The interim interest charges can be automatically invoiced out of ASPIRE, either before or after the booking of the deal.
And with ASPIRE’s sophisticated framework, segregation of duties and clearing account concept, any errors are clearly identified during the reconciliation of the defined clearing account between the A/P system and ASPIRE, ensuring the risk of errors is minimal throughout the process.