Accounts payable software is a crucial sub-component of our accounting software.
For any business, accounts payable is a very important tool to keep the lights on (and vendors happy). Making payments can be a very complicated process but with accounts payable software, it can be a breeze! To see how easy it is, here are 4 ways how our accounts payable software can help save your business and make it more efficient in the process:
- Automation: The software can automatically request quotes based on certain certifications. That way you don’t have to sift through a long, boring list of vendors. You can also have recurring vouchers (read: invoices). This is really nice because you don’t have to set them up each time. Just enter the amount you are going to pay, when they are going to be distributed on a monthly/quarterly/annual basis and voilà!, your vendors are happy.
- Organization: You can manage your vendors based on certifications, the industry they are in, etc. That way you can keep track of which vendors have the right skill-sets, can perform certain services or can provide certain products that you are looking for. This can help you stay organized and not pull your hair out! You can also keep track of invoices you receive in the mail or online.
- Recordation: You can enter banking transactions, in order to record things that are AP related (it could be miscellaneous charges coming out of the bank accounts, quick checks, etc.) That way you don’t have to send this transactions through the whole AP process.
- Transaction: Create AP Payments and have them paid on your terms. If you are still printing checks, we can help you! We recommend you do EFT (electronic fund transfers) if you want the send the funds faster but that is completely up to you. A third option is doing both!
These are just four ways accounts payable software can help run your business. What are some other ways? I would love to hear from you in the comments below or privately! Cheers!