Q360 Account Payables

In this MasterClass webinar, we explore various options to streamline the account payables (“AP”) process in Q360 v22.01. This webinar was recorded on June 22nd , 2022.

Agenda:

1. Introduction | common Account Payables pains? why streamline AP?
2. Vendor Profile
   • What do specific vendor attributes impact?
   • 1099 reporting and setup
3. Recurring Purchase Order
   • What is it? When would I setup a Recurring PO?
   • For recurring payable, with same or variable amount; not for “Q” or “A” item type MasterNo, e.g. rent, utilities, vehicle lease
4. Create the Voucher
   • Explore options to create the vendor invoice in Q360 – from a purchase order, a recurring purchase order, or ‘manually’ from vendor (for miscellaneous payment, for prepaid expense)
   • Freight cost | automated distribution across voucher items
   • Vendor invoice document | best practice to save/store
   • Purchase Price Variance (“PPV”) | amount and journal entry – what/when/where does this show up?
5. Process the Voucher | post > approve (optional) > release for payment
6. Pay the Vendor
   • Options: direct payment / ACH, print check
   • Positive Pay
   • Early payment discount
   • Vendor remittance email | setup default contact email recipients
7. Aged AP & Impact on One Dashboard
   • Impacts: One Dashboard > Cash Flow underlying report
   • Set value of “expected payment date”
     • Accounting > Quick Views > Aged AP > extended menu “Update Expected Payment Date for Selected”
     • Otherwise, if left as blank, system uses voucher’s “Due Date” for cash flow projection purposes.
8. Wrap Up