ORMED MIS™ Finance Management for Healthcare

Finance Management - Healthcare

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 MANAGEMENT

  • 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”


Accounts Payable Manager

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

 

The Ormed Accounts Payable solution includes the following modules: