Accounts Payable

Service Description

Accounts Payable provides automated invoice and payment processing to ensure timely and accurate payment for agency goods and services. Matching features allow flexible match rules for 2-way or 3-way matching of purchase order, vendor invoice and receipt. Accounts Payable integrates with Purchasing for payment of encumbrances, General Ledger for accounting entry creation and posting, Project Costing for project cost collection and Asset Management for creation of financial Assets. Commitment control budget definitions are supported in Accounts Payable to ensure agency encumbrance accounting requirements are met. Flexible payment rules are configured in pay cycles that allow payments to be structured and processed in various fashions.

Customer Benefits

• Supports integration with other financial management modules for Purchase Order payment, General Ledger accounting entries, Project Cost collection and Asset creation
• Use flexible matching rules to ensure payment processing checks and balances are in place
• Provides process controls and checks through Pay Groups used to batch and total groups of payment Vouchers
• Track payment history by vendor, time or amount with flexible reporting solutions
• Tracks and reports on 1099 vendor payments
• Make adjustment Vouchers to correct previously entered and posted vouchers
• Use statewide vendors to analyze spending across multiple agency business units

Customer Market

This service is available for all Oklahoma state agencies, offices, officers, bureaus, boards, commissions, counsels, units, divisions, bodies, authorities, or institutions of the executive, legislative, or judicial branches of state government.   It is also available to counties, municipalities, townships, Tribal governments, and other political subdivisions.    

Customer Responsibilities

• Review reports and balances available in the system
• Reconcile AP Reports to sub-system reports to General Ledger
• Process reports required by state records retention requirements and store reports as required in the state retention schedule
• Attend required training to receive system access
• Create vouchers in accordance with statutory requirements, policies and procedures
• Use receiving functionality (optional at this time)
• Use Imaging functionality (optional at this time)

How Do We Charge?

There is no additional charge for the actual use of this PeopleSoft module.