Accounts Payable Lite 
for Windows Released

Disbursement system aids Regulation Z compliance.

Del Mar, Calif., July 23, 2001: Weston & Muir is shipping Accounts Payable Lite for Windows, a simplified disbursement processing and accounting system based upon the company's full-featured accounts payable system.

Recent changes to Federal Reserve Regulation Z, Truth in Lending, require that banks and other financial institutions refund any credit balances in excess of $1 that remain after a loan or credit has been paid.

Accounts Payable Lite was designed to refund these credit balances and to issue other refund or rebate payments. Accounts Payable Lite is much easier and faster to use for this purpose than full-featured payable systems because it does not employ a vendor file and does not track vendor history.

To process a refund, an operator only needs to enter the payee's name and address, the refund amount, and the general ledger accounts to be charged. After data entry is complete, the program prints the checks.

To further streamline the process, Weston & Muir can provide custom import modules that will automatically perform the data entry task using data prepared by other external accounting programs. These import modules are offered at the nominal cost of development, usually less that $300.

Other features that are part of the system include a check register, reconciliation and export, standard distributions, and general ledger transaction reporting and export.