MEDITECH
Accounts Payable
functionality brief

The Accounts Payable functionality in MEDITECH's Supply Chain Management product provides users in a multiple or single facility health care organization immediate access to complete vendor, invoice, and transaction information.

Highlights:
• Shares a common vendor file with the Materials Management functionality and General Accounting product
• Links with the Revenue Cycle application for processing patient and insurance refunds
• Integrates with the General Accounting application for expense distribution to appropriate GL accounts
• Automatically matches invoiced amounts to received values in Materials Management functionality
• Provides on-line access to purchasing and receiving information during invoice processing
• Provides workflow efficiencies for handling invoice/receipt discepancies
• Automatically generates accrual batches.

The application helps users:
• Maintain proper control over check-generating and bookkeeping practices
• Improve the organization's cash flow and credit position
• Increase the rate at which the health care organization takes advantage of discounts
• Override standard processing of any invoice when necessary.

The application also features automatic generation and reversal of accrual batches for inventory items received but not yet invoiced.

 

Standard Features

On-Line Transaction Activity
The application facilitates a user's entering and auditing of transactions, while automatically recording transactions in on-line batches. The application features:
• Free text descriptions of transactions
• A Direct Entry feature that allows immediate posting of individual transactions while maintaining audit trails
• User-defined codes and passwords that limit access to authorized personnel
• Immediate error-checking of all data as it is entered
• On-line review and editing of invoice and expense distribution data before posting
• User-defined batch control totals that can be used to verify batch amounts
• A Daily Master Log, sorted by vendor name
• Complete integration with the Revenue Cycle and General Accounting applications
• Database access to all facilities defined within the MIS
• Ability to distribute invoice dollars to multiple facilities
• A routine to charge prepaid expenses into future periods.

Direct Inquiry
On-line inquiry features provide users immediate, real-time, on-demand access to the latest financial information. These inquiries, in turn, provide an audit trail to the appropriate source batches. Inquiry routines detail:
• Up-to-the-minute displays of:
- all invoice statuses on file for a vendor
- detailed transaction histories for invoices, including users' comments
- expense distribution for invoices.
• Vendor identification by partial name, mnemonic, or vendor number
• Invoice identification by invoice number, or a review of the invoices on file for a vendor
• Chart of accounts, format/content of reports, etc.
• Tracking of invoices, maintaining separate payment schedules and cash accounts, and analyzing cash requirements by each facility.

Invoice Processing
The application handles a variety of vendor documents, including single-payment invoices, recurring invoices that require a series of payments, and credit memos. The application safeguards against duplicate entry and payment of invoices. Other features include:
• On-line invoice matching process which provides real-time access to receiving and purchasing information
• A provision to override a vendor's standard terms
• The ability to hold, or release for payment, either individual invoices or the entire collection of invoices for a vendor
• An automatic hold on invoices for amounts greater than the amount specified for a vendor
• Partial payment of invoices
• A safeguard against duplicate entry or payment of invoices
• Free text comments on invoice transaction histories
• Archival storage of historical invoice and transaction data
• Separate bank accounts that can track the invoicing and payments for each facility
• Ability to cancel only individual invoice when check is voided.

Invoice Exception
The application streamlines the workflow and communication process for handling invoice/receipt discrepancies by:
• Allowing comments to be attached to invoices
• Providing the ability to review and correct invoice/receipt discrepancies on-line
• Having PO and invoice inquiries to help reconcile discrepancies
• Display history of all transactions associated with the invoice discrepancy

Vendor Management
Users have the ability to alter vendor arrangements to accommodate changes. The system can:
• Support both one-time and permanent vendors
• Provide flexible vendor discount specifications
• Separate address/remit to addresses
• Handle payment of vendors from different bank accounts
• Override vendor addresses or discounts for individual invoices
• Share a common vendor file with the Materials Management functionality and General Accounting product
• Access vendor history by vendor name, vendor mnemonic, or vendor number.

On-Line Check Management
Users throughout the organization perform all aspects of their check management directly on-line. The functionality:
• Offers demand and manual check capabilities
• Supports payment of multiple invoices with a single check
• Supports separate check number sequences for each bank defined in the system
• Maintains records of manually-generated checks
• Allows review and edit of checks prior to printing
• Performs check reconciliations, replacements, voids, and inquiries
• Allows checks to be marked as unclaimed, and subsequently reinstated
• Prints check register by number, date, or activity date, with or without remittance advice or GL distribution
• Reconciles checks manually or by file uploads
• Check Registers
- Outstanding Check List
- Unclaimed Check List
• Generates patient and insurance refund checks using data and routines shared with the Revenue Cycle product
• Shows clear date of check on summary and detail look-up.

Management Reports
A series of user-defined reports enable managers to monitor and control their accounts payable activities. Users specify the level of detail to be included on these reports each time the reports are printed.
• Aged Payables Report
• Cash Requirements Report
• Control Report
• Period-End Open Invoices Report
• Vendor History
• Vendor Balances Reports
• Federal 1099 Forms and Report
• Batch Status Report
• GL Distribution Reports
• GL Period Activity Reports.

Security
Health care organizations can:
• Segregate duties (invoice entering and posting, for example) by workstation, location, or user
• Restrict a user's access to certain menus and routines.

For more information about us, contact a MEDITECH Marketing Representative.

MEDITECH
Medical Information Technology, Inc.
MEDITECH Circle
Westwood, MA 02090
781-821-3000
www.meditech.com