REQUIREMENTS MASTER BANK – BBI – Selection & Implementation App

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Section	Sub - Section	Requirements Master List	CUSTOM CONTENT
Accounting	Accounting - Accounts Payable	Vendor Management: Ability to store and manage detailed vendor information, including contact details, payment terms, tax IDs, and performance history.
Accounting	Accounting - Accounts Payable	Invoice Processing: Automated processing of vendor invoices, including scanning, data extraction, and verification against purchase orders.
Accounting	Accounting - Accounts Payable	Purchase Order Integration: Seamless integration with purchase order systems for matching invoices with POs and goods received notes.
Accounting	Accounting - Accounts Payable	Multi-Currency Support: Capability to handle transactions in multiple currencies, including currency conversion and exchange rate management.
Accounting	Accounting - Accounts Payable	Payment Processing: Facilitate multiple payment methods (e-checks, bank transfers, credit cards) and batch processing of payments.
Accounting	Accounting - Accounts Payable	Approval Workflow: Customizable approval workflow to ensure invoices are reviewed and approved by appropriate personnel.
Accounting	Accounting - Accounts Payable	Expense Allocation: Ability to allocate expenses to specific projects, jobs, or cost centers.
Accounting	Accounting - Accounts Payable	Tax Compliance: Automated tax calculations, including sales tax, VAT, and withholding tax, and compliance reporting features.
Accounting	Accounting - Accounts Payable	Discount Management: Capture early payment discounts and manage vendor discount terms.
Accounting	Accounting - Accounts Payable	Electronic Document Management: Secure storage and easy retrieval of invoices, contracts, and other accounts payable documents.
Accounting	Accounting - Accounts Payable	Vendor Portal: Self-service vendor portal for invoice submission, payment tracking, and query management.
Accounting	Accounting - Accounts Payable	Recurring Payments: Management of recurring expenses and automated payment scheduling.
Accounting	Accounting - Accounts Payable	Audit Trails: Comprehensive audit trails for all transactions, changes, and approvals for compliance and internal control.
Accounting	Accounting - Accounts Payable	Duplicate Payment Detection: System alerts to prevent duplicate invoice payments.
Accounting	Accounting - Accounts Payable	Customizable Reporting: Robust reporting tools for aging reports, vendor analysis, cash flow forecasts, etc.
Accounting	Accounting - Accounts Payable	Budget Control: Integration with budget management tools to monitor expenditures against allocated budgets.
Accounting	Accounting - Accounts Payable	Mobile Access: Mobile app or responsive design for managing accounts payable on-the-go.
Accounting	Accounting - Accounts Payable	Data Security: Strong data encryption and security protocols to protect sensitive financial information.
Accounting	Accounting - Accounts Payable	User Access Control: Role-based access controls to limit user access to sensitive data and functions.
Accounting	Accounting - Accounts Payable	Integration with Accounting Software: Seamless integration with the broader accounting system for real-time financial reporting.
Accounting	Accounting - Accounts Payable	Historical Data Import: Capability to import historical accounts payable data from existing systems.
Accounting	Accounting - Accounts Payable	Cash Flow Management: Tools for monitoring and forecasting cash flow based on payable obligations.
Accounting	Accounting - Accounts Payable	Custom Fields and Tags: Ability to add custom fields and tags to invoices for better categorization and tracking.
Accounting	Accounting - Accounts Payable	Automated Reminders: Automated reminders for upcoming and overdue payments.
Accounting	Accounting - Accounts Payable	Expense Recognition: Recognition and tracking of expenses in the correct accounting periods.
Section	Sub - Section	Requirements Master List	CUSTOM CONTENT