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Accounts Payable System

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Accounts Payable File

Cash Receipts

Sales Taxes

Accounts Receivable

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Accounting Primer Topics

If your entity buys on credit from a number of vendors, you will want to keep close track of the amount owed and the due dates of the bills. If you pay the bills too early, you lose the interest that you could be earning on the cash. If you pay too late, you could lose a cash discount, or injure your credit reputation. Also, you need to know why bills are due to have the cash needed to pay them.

Sage 50 has an Accounts Payable function that provides this information. Accounts Payable provides the summary information needed for the entry that credits Accounts Payable and debits the various asset and expense accounts that the vendor invoices represent.