Overview of Accounts Payable


The Accounts Payable part of Lynx is an integrated accounting module that works in conjunction with the General Ledger part of of the system.

This module includes the ability to enter and maintain information about your vendors, to record vendor bills to be paid, to print payables checks, and to post to the General Ledger. 

 

Here's an overview of how Accounts Payables are typically handled.

Let's assume you pay bills monthly . . .

1. As the first vendor bills of the month come in, create a new "batch" and enter them into it.

2. As further vendor bills come in during the month, go to this same batch and enter them as well. 

3. At month end, create a bill payment batch. 

4. From the Options button, select "Choose Vendor Invoices to Pay"

5. Select the vendor bills you want to pay. You can select them one at a time but this is typically done by selecting the bills due to be paid by a certain date.   

6. Print the checks.

Note: Use the Accounts Payable Preferences to select the check format you want to use.
Note: Don't forget to POST the batch to the General Ledger to record the expenses.