FINANCE MANAGEMENT

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ORMED MIS™

Finance Management for Healthcare

Accounts Payable -- Manager

Accounts Payable Manager

The Ormed AP Manager allows for easy, one-time entry of vendor information used by multiple Ormed applications and modules. Default settings for discounts, taxes, and special reports are kept here for use by the application.

Vendor

• A single point of entry for vendor information used by Ormed AP and MM
• Easy, quick, and accurate vendor data entry and access
• Unlimited number of vendors
• Have various addresses for a vendor (e.g., order from, pay to, and return to addresses)
• Identify vendors subject to 1099 reporting and their tax code
• Produce 1099 reports without closing a financial year
• Mark infrequent vendors as “inactive”
• Mark vendors inactive for MM when they provide services or seek reimbursement outside of the MM scope
• Store vendor reference number for the facility
• Maintain telephone, fax, and e-mail accounts
• ORMED X® account for automatic entry on Ormed X website
• Enter vendor payment terms (including discounts) once to apply to all invoices
• Make and access AP notes about the vendor
• Mark vendor as “hold payment”
• Override on an invoice basis
• Identify vendor as “subject to self-assessed Tax 2”

Bank

• Enter expense or asset account charged and system will automatically create offsetting entry to AP
• Payment automatically creates accounting entry to reduce the AP and the bank by the appropriate amounts
• Unlimited number of account distributions
• Bank account payment frequency used by system to automatically select invoices due for payment
• Comprehensive check printing includes printing checks on blank paper
• Easily setup EDI payment options

Tax

• Single point of entry for tax information used by AP and MM
• Have up to two separate tax rates
• Set up a tax rebate calculation
• Automatically calculate amount owing for self-assessed taxes

Global setup

• Enter default information to be used by system unless overridden for a particular transaction or posting
• Optional update balance files at time of posting
• Option to always take maximum discount
• Option to provide 1099 reporting
• Option to provide FIA reporting

go to Accounts Payable -- Invoice Entry and Reconciliation
go to Accounts Payable -- Payments
go to Accounts Payable -- Reporting

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Product Data Sheets

Management Dashboards

Discovery EIS

Take your AP system to the next level with Ormed's powerful executive information system: Discovery EIS .

A flexible tool for budgeting and variance analysis, Discovery lets you quickly and easily access, analyze, and summarize live and historical data.

Drill-down to account source and transaction details… a mouse-click away on any number in every financial statement.  Create financial reports and instantly repopulate the fields with a click of the mouse.

Link budget tools to expenses and reduce errors, inconsistencies, variances, and cash flow surprises.

Simplify funding management and consolidated reporting, and give each authorized user full access to relevant information and reports.

Ormed has allowed us to decentralize our financial management. Our finance department has decreased by approximately 1.5 FTEs over the last eight years and has been able to handle transaction volume increases without adding extra staff.

Katja Waldman,
Director of Finance