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Accounts Payable

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This module is required to integrate with the purchasing, inventory and fixed assets modules,
Furthermore the Accounts payable application should provide users in the Hospital , immediate access to complete vendor , invoice and transaction information.

The following has been extracted from a recent RFP. I've included it here for your reference. It may prove useful for anyone preparing such a document.
Please feel free to comment on this list, and propose any items that you think should have been included in this list. 

Accounts Payable

This module is required to integrate with the purchasing, inventory and fixed assets modules,
Furthermore the Accounts payable application should provide users in the Hospital , immediate access to complete vendor , invoice and transaction information

>>> General
1   Provide ability to handle multiple divisions as separate entities with divisional and Hospital wide reporting
2   Maintaining proper control over check-generating and book-keeping practices
3   Managing the Hospital cash flow and credit position
4   Overriding standard processing of any invoice when necessary
5   Provide facility to handle multi-currency invoices
6   Ability to post in multi currency into General Ledger and Cheques
7   Ability to handle various types of VAT calculations and accounting

>>> Policies and Procedures
8   Supports multiple entities, companies or divisions
9   Hierarchical organization levels linking business segments and associated data
10   Business segment-specific views of supplier and payables information
11   Company, division and/or cost center accounts
12   Separate processing cycle for each company, each account code
13   Different fiscal year for each paying entity
14   Common ( shared) vendor file for all entities
15   Selected vendors restricted by company, entity
16   Accrual basis accounting method
17   Cash basis accounting method
18   Balance forward accounting method
19   Open item accounting method
20   User-defined data fields
21   Customizable third party interface

>>> Supplier / Vendor Master Data
22   Support automatic and manual assignment of vendor numbers
23   Support up to 10 digits of characters for vendor number
24   Provide ability to group vendors under a parent vendor
25   Provide ability to inactivate vendors and record inactive data
26   Provide ability to establish one-time vendors ( ex: for patient refunds, other needs ) ( temporary vendors )
27   Support user-defined vendor types ( for reporting purposes )
28   Maintain vendor data change log for audit control ( ex: check change of vendor name or address )
29   Support multiple billing addresses for vendors
30   Provide ability to place Vendors on hold
31   Separate address/ remit to addresses
32   Vendor database to include :- Vendor Name
33   Vendor database to include :- Vendor Number
34   Vendor database to include :- Vendor Type
35   Vendor database to include :- Vendor Order Address
36   Vendor database to include :- Vendor Remit-to Address
37   Vendor database to include :- Contact Name
38   Vendor database to include :- Standard Terms
39   Vendor database to include :- Default Currency

>>> Bank Data
40   Support multiple banks and bank accounts
41   Allow ability to query cash balance available within accounts payable
42   Support cash requirements forecasting by cutoff date
43   Support electronic funds transfer (EFT) payments

>>> Voucher / Invoice Master Data
44   Voucher / Invoice number
45   Purchase order number
46   Voucher / Invoice Date
47   Vendor Number
48   Invoice/credit memo reference ( no , date , amount )
49   Discount percent
50   Discounts taken
51   Other amounts discounts
52   Discount pay date
53   Accounts charged and amounts
54   Check number , date and amount
55   Handle invoicing of extra received quantities

>>> Invoice Processing and Aging Analysis
56   Support on-line entry of vendor invoices for payment
57   Support batch entry of vendor invoices for payment with batch controls ( ex: number of invoices, total amount in batch )
58   Display actual versus counts in invoice entry batch control feature
59   Provide ability to set-up recurring monthly payments
60   Support entry for descriptions
61   Support entry for remit message ( short and long )
62   Support ability for Mini Chart of Account code for accounting entries summaries
63   Automatically detect duplicate invoices by comparing invoice number by vendor
64   Support invoice cancellation by reversing entries or complete delete with audit trails
65   Support invoice deletion if not extract to General Ledger
66   Accepts credit notes entry
67   Ability to cancel only individual invoices when check is voided
68   Online invoice matching process which provides real-time access to receiving and purchasing information
69   Pre-payment ( payments without an invoice , or proforma )
70   Handling of down-payments
71   Handling Contracts payments / service orders
72   Handling Vouchers payments
73   Allow entry of foreign currency invoices and posting to General Ledger
74   Ability to record freight, postage and packing charges within an invoice
75   Debit note , and match debit or credit note to original invoice
76   Miscellaneous invoices for non-purchase order items
77   Automatic invoice and vendor number validity check
78   Invoice pay immediate feature
79   Invoice previously entered can be converted to manual cheque
80   New vendors added at invoice entry
81   Invoice entry before receipt
82   Enter future period invoices
83   Allocate invoice account distribution to different companies/locations
84   Enter ‘on hold’ invoices
85   Cost allocation to projects
86   Full invoice maintenance
87   Currency and exchange rate defaults by users
88   AP Aging by due date, invoice date and class code

>>> Journal Voucher ( invoice ) Processing
89   Online vouchering ( invoicing ) with access to PO’s , receivers, credit memos
90   Automatic three-way match of invoice, PO and receiver – with tolerances
91   Four-way matching of invoice , PO , receiver and inspection results
92   Multiple vouchers ( invoices ) per receiver
93   Multiple vendor locations – Order , Ship , Remit to
94   Calculation of purchase price variance against standard cost accounting
95   Booking of purchase price variance
96   Non-discountable voucher ( invoice ) amounts maintained
97   Invoice holds and amounts
98   Recurring invoices for regular payments
99   Automatic voucher ( invoice ) release of recurring expenses
100   On line access to amount value before invoice released confirmation
101   Debit/credit memos on account or invoice
102   Voucher / invoice register
103   GL account distribution by voucher with account totals
104   Linking of invoice number and GL journal number
105   Multiple GL entities specification on AP transactions
106   Automatic generation of inter-company transactions
107   Automatic generation of currency exchange transactions
108   Projected cash requirements
109   Actual cost adjustment at voucher ( invoice )
110   Automatic calculation of accrued inventory liability at month-end
111   Multiple open periods
112   Multiple payment banks
113   Inter-company payables

>>> Transactions and Control
114   All AP transactions entered online
115   All AP transactions updates real-time
116   Selected AP transactions deferred batch (list )
117   Online batch total/voucher ( invoice ) balance check
118   Online duplicate vendor invoice number check
119   Online review of invoice exceeding user defined max for vendor
120   Online distribution error correction without reversal and reentry

>>> Payment Controls and Payment Terms
121   Edit check prevents deleting vendors with open PO, unpaid invoices
122   Edit check prevents deleting vendors with history in current year
123   Edit , update cycles run independently
124   Hold payment at vendor and invoice level
125   Provide ability to compute payment due dates based on the terms of the vendor discount or user-defined period from the invoice date
126   Allow setting of priority for vendor payment processing
127   Support payment of multiple invoices to a vendor on one check or individual option
128   Support recording of reason(s) for releasing payment hold
129   Define payment terms by enterprise , vendor
130   Allow for recording of manually prepared checks
131   Allow partial payments
132   Allow multiple scheduled payments
133   Provide ability to select payments for check run based on : pay-through-date , payment priority or payment amount limits
134   Support payments in cash , bank transfer , cheques , credit cards
135   Automatically calculate payment due date using predefined payment terms
136   Produce lists of Proposed payments , and amend prior to payment cycle
137   Ability to void and cancel payments if required
138   Allow offset of prepayments and credit notes against invoices when making payments

>>> Payment Processing
139   On-line inquiry to accounts voucher/invoice and payment history
140   User defined default account distribution by vendor
141   Standard vendor terms override
142   Freight cost allocation to company/division at distribution line level
143   Freight automatically posted to user defined account
144   Freight prorated among line items selectively by vendor
145   Recurring payments by user selected frequency
146   Recurring payments by regular ( monthly, quarterly , ..) or irregular intervals
147   Accept model invoices
148   Accept invoices where no PO is required
149   Credit card payment processing
150   Payment without invoice
151   Partial payment support
152   Prepayments supported
153   Centralized or decentralized payment processing from one or more business units

>>> Cheques Processing and Printing
154   Trial payment/pre-cheque run report
155   Multiple bank accounts
156   Multiple bank cheque writing feature
157   Required pre-numbered cheques
158   No requirement for pre-numbered cheques
159   Multiple cheque formats : printed cheque forms, electronic funds transfer formats
160   Single or multiple invoice per cheque ( as vendor option )
161   Cheque payment selection : by supplier, invoice , due date , discount date
162   Cheque generation on demand ( labor and time only ) : by cheque, vendor , invoice
163   Cheque run recover/restart capability
164   Manual cheques input for accounting and cheque reconciliation
165   Various cheque printing sequences ( on demand )
166   Cheque voiding/replacement feature
167   Auto reverse distribution of void cheque
168   Void and replacement cheque number on reconciliation
169   Auto reinstatement of invoice for voided cheques
170   Cheques for employee expense printed with separate sequence
171   Cheque voids reinstate invoice
172   Bank/cheque reconciliation
173   Cancelled cheque processing
174   Cheque register including manual and voided cheques
175   Summary of disbursements by vendor by period
176   Support user-defined printed cheque formats
177   Provide ability to generate cheques for multiple bank accounts in a single cheque run process
178   Automatically suppress printing of zero or negative amount cheques
179   Support printing of amounts on cheques in words
180   Support printing of cheques on laser printers
181   Support printing of cheques with MICR standards , ( or to a file to be able to reprint )
182   Support Arabic printing of cheques
183   Security controlled cheque writing
184   Provide ability to immediately print individual cheques after acceptance of invoice entry ( manual cheques )
185   Print invoice stub with cheque , before , after , separate
186   Information on cheque stub , invoices reference , remit messages

>>> Cheques Reconciliation
187   Support automatic cheque reconciliation process
188   Bank reconciliation by ( media ) input from bank
189   Supports separate cheque number sequences for each bank defined in the system
190   Maintains records of manually-generated cheques
191   Performs cheques reconciliation, replacement , voids and inquiries
192   Provides report to support checking functions: a) outstanding cheque list b) unclaimed cheque list
193   Generates patient and insurance refund cheques using data and routines shared with the billing/accounts receivable application
194   Shows clear date of cheque on summary and detail reports
195   Support voiding of system-generated cheques with automatic reversal of gross amount, discounts and account distribution
196   Support voiding of manual cheques with automatic reversal of gross amount, discounts and account distribution

>>> Employee Advance and Expense
197   Provide ability to treat employees as vendors to reimburse expenses and pay advances
198   Support Employee payment procedures : expense vouchers , travel advance
199   Maintain record of employee payments for expenses and advances
200   Maintain employee payment records separately from vendor records for statistical and reporting purposes
201   Allow for Employee direct payments
202   Automatically calculate tax for employee direct payments

>>> Purchasing Matching
203   Support automated reconciliation of vendor invoices, purchase orders and receipt to verify quantity ordered, received, accepted and billed before payment is authorized
204   Allow invoice to include line items from multiple purchase orders in automated reconciliation process
205   Support user-defined tolerance in invoice reconciliation process including: invoice quantity different than purchase order ( tolerance by percent and/or amount )
206   Support user-defined tolerances in invoice reconciliation process including : invoice unit price different than purchase order
207   Support user-defined tolerance in invoice reconciliation process including: Receiving quantity different than invoice quantity
208   Support user-defined tolerances in invoice reconciliation process including : invoice total different than purchase order total

>>> General Ledger Posting
209   Ability to track details of invoices posted
210   Schedule posting
211   Set accounts for nature of invoice and entries
212   Automatic posting of charge based on PO records
213   General Ledger posting : detail or summary at user option
214   Account override capability
215   Daily summarization and update of GL accounts period to date accumulated
216   Period end detail/summary transactions reports by GL account
217   Prior period transaction correction capability- including GL distribution
218   General Ledger distribution report
219   Projected inventory status
220   Accrual basis Accounting or Cash basis accounting

>>> Queries
221   Provide ability to view a summary vendor aging on-line and drill down selectively by vendor to see detail items
222   Inquiry to enable access to purchase order information and supplier standing data
223   Ability to inquire on invoices and other transactions belonging to a supplier and their payment status on-line by ( several fields )
224   Online display of all invoices status for a vendor
225   Detailed transactions history
226   Tracking of invoices , maintaining separate payment schedules and cash accounts, and analyzing cash requirements by each facility
227   Inquire on Cheques by bank , cheque number , or date range
228   Invoices on hold

>>> Reporting
229   Payment hold back report
230   Detailed employee expense report
231   Summary expense report by cost center , division , other criterias
232   Open travel advance report
233   Schedule of recurring payments report
234   Bank balance requirements register
235   Cash requirements report
236   Printing in terms of base currency or in transaction currency
237   Track month-to-date and year-to-date total payments for current and prior year by vendor
238   Print vendor master report
239   Print invoice entry journal
240   Print credit entry journal
241   Print invoice deletion list
242   Print GL distribution report
243   Print paid invoices by distribution report
244   Print paid invoices by date report
245   Print paid invoices by vendor report
246   Print vendor aging report of unpaid invoices for the current period
247   Provide four aging periods on vendor aging report
248   Print adjustment posting journal of invoices with adjusted balances, showing the original amount with amount of change and new balance
249   Print cash requirements report for the next 90 days including open payables and purchase orders issued
250   Print cheque register for check run
251   Print cheque signature lists
252   Print outstanding cheque register
253   Print cheque reconciliation report identifying all outstanding cheques
254   Print trend analysis report showing summary of activity for current month, last twelve months, and YTD by vendor
255   Print vendor mailing labels
256   Matched invoices

>>> Integration
257   Provide interface to the accounts receivable system with user edits and approval control for patient and insurance refunds
258   Provide interface to cash management
259   Interface with payroll for Employee number validation for employee expense and advance
260   Share common vendor file with the materials management and fixed assets applications
261   Integrates with GL applications for expense distribution to appropriate GL accounts
262   Automatically matches invoiced amounts to received values in materials management
263   Provide on-line access to purchasing and receiving information during invoice processing
264   Automatically generates accrual batches

>>> Archive and purge
265   Automatic vendor delete after specified period of inactivity
266   One-time vendors automatically dropped after payments

Last Updated ( Tuesday, 28 October 2008 01:08 )  

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