By, Benjy Cook
Accounts Payable (AP) systems within the banking world are usually a generic part of the core/host system and are a necessary evil only the accounting department will ever understand – very rarely do they have deluxe features such as imaging or vendor management. However, these AP systems do have base functionality that includes writing checks, general ledger coding, reporting, etc.
BankManager AP has document imaging built within the system that allows all related vendor documents to be viewed in one place, and reports have hyperlinks to view checks and invoices directly within the report. Each IT vendor has specific documents that are tracked to insure that the policy for vendor management is strictly monitored and will automatically send letters or emails to each vendor with missing documentation.
The system also has a workflow feature that emails approval requests for invoices to designated approvers and may forbid a check to be written without approval. Writing checks with BankManager AP is both simple and easy and allows for “Quick Checks” to be printed in minutes by entering basic data for completion. .
Many other features such as ACH and accrual payments, multiple checking accounts and account reconciliation make BankManager AP a superior system.
To learn more about BankManager AP, please visit https://www.americanbanksystems.com/banking-systems/bankmanager-elite/ or contact ABS at 405-607-7000.
