Accounts Payable Solutions: Procure to Pay
- Purchase Requisitions (Sole Source, Multi-Quote)
- Purchase Orders
- Invoice Matching (Integration with RFSPayables)
- Invoice Upload and Coding
- Multi-Level Invoice Approval
- Accounting Senior Review
- Vendor Communications and Management
Reduces costs to process payables, improves visibility to payables and enforces approval policies and procedures.
- Invoice processing, communications (vendor, internal, management)
- Automatic upload of payable from email.
- Multi-level approvals based on project, department, vendor and dollar threshold.
- Batch approval of transactions.
- Accounting review of transactions before processing.
- Stores payable and supporting documents.
- View payable status reports with secure links to documents, support and full audit trail.
- Integration with accounting software.
- Accrual report for month-end closing.
- On-line Payment Selection
- Single Process for Issuing Checks and ACHs
- E-mail Verification of Payments to Vendors and Check Signers
Reduces costs of each payment run by reducing time, postage, courier, and banking costs, improves information available to check signers at time of payment approval and enforces dual signature requirement.
- Cash disbursements
- Electronic selection of payables for payment
- Electronic payment batch approval from any location with internet connectivity
- Allows for dual signatures for vendor payments over threshold
- Review all payables documents electronically at time payment batch approval
- Manages all payment methods through same process
- View payment status reports with secure links to documents, support, and full audit trail
Accounts Receivable: Contracts to Cash
- Fixed Price
- Cost Plus
- Time and Materials
- Product Sales
- Separation of Cash Custody from Record Keeping
- AR Ledger Management
- Enhanced Cash Reporting
- Collections Support
Improves segregation of duties and internal controls, permanently stores all documents required to support cash receipts and enhances managements’ visibility into cash flows.
- Separates cash custody from record keeping
- Reports cash receipts to management daily
- Stores cash receipts documents
- View cash receipts status reports with secure links to documents, support and full audit trail
- Integrates with accounting software
- Contract Management Support
- E-Commerce Integration
- Membership Integration
Payroll: Time and Expense to Payroll
- Time and Expense Administration
- Payroll Processing Support
- Time Off Accrual Maintenance
- Labor Distribution
- Payroll Administration and Processing
- Learn more about RFSPayroll
Monthly Closing and Financial Reporting: Controllership
- Bank Reconciliations
- Balance Sheet Reconciliations
- Maintenance of Internal Control Structure
- Income Statement Analysis
- Improves segregation of duties and internal controls, permanently stores all documents required to support journal entries and close, enhances managements’ visibility into closing process and provides version control for revised financials.
- Clearly assigns responsibilities of closing process
- Tracks status of each closing task
- Stores support for all journal entries
- Automates creation of subsidiary ledgers and stores outside ledgers for all balance sheet accounts
- Ensure ending trial balance matches reconciliations
- View closing status reports with secure links to documents, support and full audit trail
- Tracks review comments and resolutions
Routine Functional Reporting
- AP Aging
- AR Aging
- Payroll Cash Requirements
- Cash Forecasts
Monthly Accrual Based Financial Statements
- Balance Sheets – Rolling 12 Months
- Income Statements – Rolling 12 Months
- Cash Flow Statements
- Budget to Actual
Monthly Management Reports
- Project Profitability Reports
- Metric & Key Performance Indicators (KPI)
- Ratios & Trending Reports
- Product Profitability Reports
- Flash Reports