Description
Master the essentials of Accounts Payable in MIP® Fund Accounting with this comprehensive training. Learn to streamline your accounts payable cycle, improve accuracy, and save time by creating vendors, entering invoices and credit memos, processing payments, and reviewing vendor balances. This course focuses on daily processing tasks to optimize efficiency in the Accounts Payable module.
By the end of this session, you will:
- Create vendors and set up 1099 information
- Enter 1099 adjustments and rename or merge vendors
- Process accounts payable invoices, credit memos, manual payments, and system-generated payments
- Use advanced coding reduction tools like Offsets, Memorized/Recurring, and more
- Review and edit unposted payments
- Analyze vendor balances and transaction history
- Evaluate accounts payable balances using aging, summary, and detailed reports
- Understand the relationship between invoices and checks