While no enterprise will distinguish itself as a leader in Accounts Payable (A/P), it remains a critical function to manage and control. Ramco Financials includes sophisticated A/P controls that ensure adherence to business rules and objectives with every transaction.

The Accounts Payable function records supplier invoices and liability for all types of purchases, both normal goods and services, as well as MRO purchases, along with FOB and delivery charges. In addition, the A/P function includes more sophisticated capabilities including accepting liability for inbound consignment of goods on consumption rather than receipt.

The A/P function can be managed centrally or decentralized within business units, supports 2-way, 3-way, 4-way, or forced matching, and can capture cost center and analysis information at the line level. Default supplier information can be overridden at the time of transaction entry.

The A/P function supports both supplier pre-payment invoices for payment before the receipt of goods, as well supplier direct invoicing, for goods and services received without reference to a purchase order. Returned goods automatically generate debit memos to ensure proper credit with the supplier.