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The Accounts Payable System
offers an accurate, efficient way to control the Firm’s cash position. LMS+
is an integrated, single source entry system. Information entered into
Accounts Payable is automatically transferred to General Ledger and to the
Time and Billing System.
The System
will process both firm and client invoices and will validate distribution
totals before accepting transactions. This feature ensures that all checks
written on behalf of clients will automatically appear in both the client
file and in the firm’s financial records. The system provides tools that
enhance the productivity of the Accounts Payable function.
| Features |
Benefits |
- Single source entry with LMS+ time accounting, billing,
G/L and other LMS+ modules
- Multiple bank accounts
- Immediate check function
- Cash requirements
- Check reconciliation
- Alpha vendor search
- Automatic payment selection
- Vendor purchase history
- 1099 preparation / processing
- On-line inquiry - Image Integration
- One time vendor capability
- Firm invoice processing
- Multiple distributions
- Recurring payment schedule
- Ability to bill the client immediately for costs
advanced
- Hold for payment - pay when client pays
- Automated void capability
- Multiple currency
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- Accurate accounting records
- Excellent cash management
- Reduced administrative balancing and posting time
- Reduced time for year end reconciliation
- Reduced labor content via tight integration with the
other LMS+ Modules
- Extensive management reporting
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