Accounts Payable
Accounts Payable (AP) involves the recording and disbursement of payments for purchased goods or services. Payment transaction documents are processed in AFIS including the creation, validation, approval, and viewing steps for accounts payable documents. AP is generally the final step in the purchasing chain of events and includes the following processes:
Payables / Claims: Payment requests for goods received and services rendered. This process establishes a payable in the system and, if specified, liquidates encumbrances.
Disbursements: Liquidates payables and generates payments. Payments may be in the form of a warrant or Electronic Funds Transfer (EFT).
Disbursement Reconciliation: Stores information to reconcile new AFIS payments with banking transactions.
Check Cancellation: Cancels checks/warrants and EFTs in the financial system.
Special AP Processes:
- Procurement Card (P-Card): Supports credit card purchases, typically for small dollar amount payments.
- 1099 Reporting: Collects Form 1099 data and generates data files that may be used to then generate 1099 forms for external vendors as well as reporting information that will be sent to the IRS.
The following resources listed below will assist with processing and navigating for Accounts Payable:
| Document Name | Video Link | Last Updated |
|---|---|---|
| Accounts Payable Training Guide | 02-01-2022 | |
| Create a Non Balance Sheet Account Payment | Video | 10-01-2021 |
| Create an Encumbrance | Video | 10-01-2021 |
| Entering a Wire Document - MDWT1 | Video | 10-01-2021 |
| Proper Accounting for State Monies Deposited into Escrow Accounts | Video | 10-01-2021 |
| Stop, Cancel or Reschedule a Warrant | Video | 10-01-2021 |