FinancialForce Accounting – Accounts Payable
Streamlining the Invoice to Pay process
The latest release of FinancialForce Accounting has extended the solution to support the Accounts Payable function. Users can now keep track of all their supplier details and complete the other key parts of the Invoice to Pay process (including purchase invoice processing and payments). And because Salesforce CRM and FinancialForce Accounting share a single, secure platform, database and toolset, this means you can manage vendor relationships, handle supplier payments effectively and maximize your cashflow – in one seamless system.
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Click on any of the features below, to find out more about how FinancialForce Accounting could benefit your organization.
Better Supplier Relationship Management
All the vendor management information is held in the account object within Salesforce CRM.
FinancialForce Accounting adds in dedicated supplier fields to this object so that, in addition to the contact details, relevant information including bank account & tax information and payment conditions, such as early settlement discounts, are all centrally stored and easily accessible.
Fast, flexible invoice entry and tracking
- FinancialForce Accounting can handle invoices received in any format – whether by paper, email, electronically or via Microsoft® Excel®.
- Invoices submitted electronically or via Excel can be brought into FinancialForce Accounting automatically, without any rekeying – saving time and ensuring accuracy.
- The system generates a unique ID for each invoice, to allow traceability throughout the system.
Automatic setting of due dates
Once the invoice is in the system it can be viewed from the Vendor section within the account tab.
Thanks to the seamless way that FinancialForce Accounting works with Salesforce CRM, invoice due dates can be automatically
calculated from the information and pre-defined rules held there for each individual vendor, such as
agreed credit terms. This enables you to pay your suppliers in the most cost-effective order and to
capitalize on opportunities to save money, such as discounts for early settlement.
See the Application tour - Purchase invoice page 
Automated ledger posting
Based on the content of the invoice and on pre-defined rules in the system, FinancialForce Accounting automatically generates General Ledger postings based on your chart of accounts design.
Once the invoice is posted, FinancialForce Accounting automatically creates a balancing entry in the ledger, which saves time and means users don’t need to understand the principles of double entry accounting.
Detailed analysis and reporting
FinancialForce Accounting uses your chart of accounts to identify and set the main “dimensions” or criteria on which you can analyse and report.
You can also define additional dimensions, for more detailed subsequent analysis and reporting. So, for example, you may wish to assign invoices to a specific project or activity. Thanks to automatic currency conversion, you would then be able to see all costs for the project – irrespective of the number of different suppliers you have or the currencies used on their original invoices.
Flexible Payment processing and settlement
From the Payments tab you can select all invoices due for payment by specific vendor, invoice number, due date, discounts available or any combination. The facility to drill down into the invoice detail enables you quickly to answer any queries. You have full flexibility to select which ones to pay – either in full or in part. You can even make payments in different currencies at the same time.
See the application tour - Payments
On clicking ‘Pay’, payments are made according to the vendor’s preferred method, such as checks or electronic.
FinancialForce Accounting - The Invoice to Pay process
