Accounts Payable Software
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Sage Intacct is a cloud ERP system targeted at high-growth small and medium-sized businesses. Intacct includes applications for core financials and accounting, purchasing, order management, and financial reporting and business intelligence. It also integrates with 3rd party software…
MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.…
Webexpenses is a global provider of online expense management software to businesses of all sizes across 70+ countries. The software is used across all industries, including retail, finance, technology, construction, and not for profit. Features of the Webexpenses desktop and mobile…
SAP Concur is a SaaS expense report management product, and handles corporate travel booking, expense report automation, reimbursement, audit, and business intelligence, and corporate card integration.
QuickBooks Online is a SaaS version of the QuickBooks product. It contains all of the features found in the local version. Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features.
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Foundation Software headquartered in Strongsville, Ohio offers their construction accounting and payroll software. The vendor states that their job costing construction accounting software is designed to be easy to use and provides the accounting and management tools needed to run…
Receivables (unpaid invoices) are the 'cheapest' source of capital for any business. However all businesses, including corporates, struggle to manage it well. While ‘Customer Intent’ is usually touted as the core problem, the true reason : traditional, in-efficient & disjointed…
invoicely is an online invoicing system for small businesses, from Austrian company apilayer, that supports billing in any currency. It offers a free plan, and its paid plan enables users to set up recurring billing, expense billing (e.g. time, mileage, etc.), team and multiple business…
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GCPay simplifies the application for payment processes between general contractors and subcontractors by automating the payment application process. Create and exchange lien waivers, organize and collect compliance documents and improve subcontractor communication. Integrate directly…
Blinksale is a cloud-based application to create and send invoices and to track and receive payments. It is a targeted at SMBs.
ApprovalMax provides approval workflow automation for cloud accounting platforms such as Xero and QuickBooks Online. It replaces paper- and email-based approval processes with multi-step and multi-role automated approval workflows that enable automated notifications to approvers,…
PLANERGY s a SaaS-based spend management system that gives businesses more control over their financial operations. PLANERGY automates the entire Procure-to-Pay and AP Automation process giving real-time reporting dashboards, approval automation, to remove bottlenecks, control…
The Corcentric Source-to-Pay Platform, including technology from the former Determine Selectica CPQ solution acquired by Corcentric in April 2019, is designed to provide a customizable CPQ solution to cover an enterprise's need to offer many possible permutations of combinations…
Pleo, headquartered in Copenhagen, offers smart company cards that enable employees to buy the things they need for work, all while keeping a company's finance director in control of spending.
NexusPayables is accounts payable automation software from Nexus Systems. It includes on-site purchasing, POs, approval workflows, invoice data capture, budgets and actuals, vendor compliance, reporting, and it integrates with the user's GL accounting system.
Fidesic integrates with accounting systems to automate the day-to-day challenges of managing business critical payments and receivables for the small to mid-sized business, creating a paperless process, end to end. The vendor states that it is a solution built to support small to…
Plooto states their belief is that managing accounts payable and accounts receivable for clients should be efficient, streamlined and profitable. Boasting users among thousands of accountants, bookkeepers and firms - Plooto provides end to end AP & AR automation, with workflows…
Zoho Finance Plus is an integrated accounting suite for small businesses, featuring invoice and AP / AR management, accounting, and billing management.
PAY Print any printer/Paper Send E-Check, ACH, Direct Deposit, eMail PDF ChecksOne-Click Check making for $1.00 by USPSSend recurring payments via Paper Checks, e-Checks, or ACH GET PAID 100% Face Value Request a check by SMS/eMail, print it or direct deposit Send…
Lumanu builds technology that makes doing business in the creator economy easy, collaborative and fun.
Veem, headquartered in San Francisco, offers payment tools to enable businesses to streamline their processes and build business relationships with suppliers and partners all over the world. Through integrations with popular business applications. Veem Local is an online and fee-…
Visa Payables Automation is a payments processing automation platform, where Visa scans accounts payable files to find which suppliers accept Visa, adjusts card limits to approved invoice amounts, sends remittance notices, and allows suppliers to charge the commercial card. For…
Visa Straight Through Invoice Processing (Visa STP) technology works across the entire Visa Network, connecting buyers with suppliers, and merchants with customers. For buyers it presents an easier way to fully automate payments. For suppliers it simplifies accepting B2B invoice…
Vic.ai offers automation and intelligence for accounting and finance processes to improve productivity, decision-making, and ROI. Vic.ai addresses manual and inefficient task in accounting – invoice processing – to improve its speed and scalability, to ultimately enable customers…
Accounts Payable Software TrustMap
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Learn More About Accounts Payable Software
What is Accounts Payable Software
Accounts payable (AP) software is a centralized platform that manages an organization’s relationship with its creditors. It automates invoice processing, payables approvals, and payment execution. The software identifies errors, tracks invoices, and improves the efficiency and accuracy of AP work, allowing accountants to handle large numbers of invoices. This improves fund management and reduces manual errors. Mobile AP software features expand the number of potential invoice approvers and allow anyplace, anytime access.
AP software is used by accounting departments to manage the account payables process, by managers and executives to monitor AP activities, and by procurement teams to match purchase orders with payables.
AP online portals allow vendors and suppliers to submit invoices and track the status of their payments for the products and services they provided.
AP automation software can be delivered as a stand-alone product that provides advanced features for complex AP operations, as part of an Accounting Software suite, or as a component of an Enterprise Resource Planning (ERP) System.
AI is being used to analyze large volumes of AP transactions for error detection and AP trends. AP AI enhances accuracy and speeds up processing times.
Cloud-based platforms are increasingly popular. They are scalable, readily incorporate new features, support ERP systems integration, and make it easier to get up and running quicker.
Accounts Payable Software Features
Accounts Payable software should have most or all of the following features:
- Invoice submission - automated, data transfer, data capture, and data entry
- Invoice processing and tracking
- Portals for vendor/supplier invoicing
- Purchase Order (PO) and invoice matching
- Payment management – invoice and payment order matching, tracking, and approval
- Approval workflow – approver permissions, templates/custom approval workflows, automated approval, and manual approval criteria, recurring payment automation, payment prioritization
- Payment automation – electronic EFT or ACH, automated check printing
- Due date alerts
- Duplicate payment alerts
- Vendor / Supplier Management – terms, payment account details, contact information
- Document Management
- Accounting regulation and standards compliance
- AP reporting, dashboards, data visualization
- 1099 creation and distribution
- Integration with accounting, ERP suites
- Cloud-based, SaaS, on-premises options
Accounts Payable Software Comparison
Consider the following when purchasing account payable software solutions.
- Features: Most accounting solutions include accounts payable features but do not necessarily provide the functionality to handle complex AP processes. Standalone AP products provide the tools to support more complex AP operations.
- Integrations: When purchasing standalone AP software ensure that it will integrate with your existing accounting and ERP systems.
- Industry: There are AP platforms that are specifically built to support retail, manufacturing, or restaurants.
- Scale: AP solutions that are appropriate for small to midsize businesses may not be suitable for enterprise-level organizations. Can the software readily scale as your business grows?
Pricing Information
Entry-level accounts payable software as a cloud-based subscription service starts at around $39 a month per user and goes up to over $150 a month. Pricing can increase dramatically depending upon the features offered and the scale of the operation. Enterprise-level products usually require obtaining a quote from the vendor. Basic small business on-premises licensing starts at $200. Free trials are available.
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Frequently Asked Questions
What is the difference between accounts receivable and accounts payable?
What does accounts payable software do?
What are the benefits of using accounts payable software?
Key benefits of accounts payable software include:
- Cost Savings: Reduced manual work and fewer human errors increase efficiency and accuracy.
- Workload Management: AP automation enables accountants to manage large numbers of invoices.
- Improved Vendor Relations: Making accurate and timely payments fosters good relations with vendors and suppliers which may result in discounting or incentives from your providers.
- Better Decision Making: A complete understanding of where your expenditures are going makes for informed decision making
- Improved Cash Management: Real-time AP information helps cash management
- Fraud Reduction: Increased visibility and transparency reduces fraud.