Product

Accounts Payable Software

Acumatica’s accounts payable software helps you track and pay all the money your company owes other companies. Your company purchases products and services. Are you taking advantage of discounts by paying on time or even earlier? Accounts payable solutions help you meet your obligations.

How Accounts Payable Software Can Work for You

With Acumatica’s accounts payable software, you can monitor your cash flow by tracking all your outstanding invoice payments as well as available discounts, due dates, and cash requirements. And because our accounts payable solutions run in the cloud, you can access your reports anytime, anywhere by opening a web browser.

Accounts payable software automates receiving invoices from your suppliers and sub-contractors. It also ensures timely and accurate payment to those creditors, which can improve your relationship with them because they appreciate it greatly. Learn more about accounts payable automation.

Key Benefits of Accounts Payable Solutions for Your Company

  • Attach Source Documents to Invoices

    Streamline invoice approvals and make it easier to resolve issues in the future. When you receive source documents via email or scanning, they’re attached to the invoice for easy drill-down access. Once files have been attached to one document within the system, the file can simply be linked to additional documents or records without uploading the file again.

  • Accept Vendor Prepayments

    Enter prepayment requests, issue prepayments, and apply prepayments to invoices as they are received. Prepayment balances are kept separate from the regular AP account. Match prepayments with charges and display the remaining balance after bank charge.

  • Recognize Prepaid Expenses

    Assign a deferred expense schedule by AP line item. Automatically split payments between the prepaid account and expense accounts.

  • Calculate Taxes Automatically

    Automatically calculate withholding, use, and value-added (VAT) taxes, and prepare one or more versions of each tax filing report. Assign a default tax zone to each vendor. The default can be overridden during invoice entry. Tax calculations can include multiple tax items per document line, deduction of tax amount from the price, and tax on tax calculation.

  • Streamline Invoice Approval and Payment

    Save time with accounts payable solutions. Set up the process to automatically approve payments or follow an approval process to prioritize or delay payment before these documents are processed in the accounting systems and paid. Designate an account to pay from, or select a payment method. View invoices, make payments, and store credit cards on the Acumatica Self-Service Portal.

     

     

  • Optimize Payments

    Avoid late charges and take advantage of vendor discounts by aligning payments with cash flows.

  • Faster Delivery, Fewer Errors

    Enter data more efficiently with predictive entry and flexible screen layouts. Reduce errors by setting default accounts, subaccounts, payment terms, and discounts by vendor.

Important Features of Accounts Payable Software

Multiple AP Accounts in GL

Link groups of vendors to specific AP accounts in the GL. Default accounts can be overridden during bill or payment processing. Acumatica automatically offsets the correct account when the payment is applied.

Multiple Currencies Support

Issue or accept invoices in a foreign currency. Use accounts payable automation to apply the effective currency rate and make the translation without any work for your staff. Currency triangulation and realized gain/loss calculations are automatic. Unrealized gains and losses can be calculated through a balance revaluation process. Support multiple base currencies and consolidates reporting across companies with different base currencies.

Recurrent AP Documents

Create recurring bills by setting the frequency and time frame for payment. Recurring bills will appear in the recurrent transaction processing screen for review, modification, and release.

Vendor Refunds

Vendor refund documents debit a cash account and credit an AP account. Apply a refund toward a debit adjustment or prepayment.

AP Aging Reports

Customize your AP aging categories and create a full set of aging reports including total outstanding, past due, cash requirements, and vendor performance.

1099 Reporting

Accumulate 1099 information for any designated vendor. Track 1099 payments and produce the appropriate 1099 reports. Multiple branches can close books (tax periods) independently of one another.

Automatically generate form 1099-NEC for nonemployee compensation without impacting vendor defaults and current processes. 1099-NEC and 1099-MISC report e-filing are both supported.

Vendor Account Security

Control access within your accounts payable software by specifying which individuals and roles can view and modify vendor account information and balances. Restrict sensitive vendor information.

Cash Basis Accounting

Record revenue and expenses when payments are received or disbursed rather than when the transactions occur.

Audit Trail

Maintain a complete audit trail of all transactions. Documents cannot be deleted or cancelled. Correct mistakes using correcting or reversing entries. Acumatica accounts payable solutions capture the ID of the user who entered the transaction and the user who modified the record. Notes and supporting electronic documents can be attached directly to the transactions.

Create AP Documents from Inbox

Apply AI/ML technology to import PDF documents from files or directly from email attachments and transform them into AP documents. Configure the system to automatically search for vendors by e-mail address.

See what Acumatica customers are saying

"The quote-to-cash cycle is the lifeblood of our business and Acumatica has given us the tools to manage it effectively and efficiently every step of the way."
Tim Patton, ICT Director
SAM
"The only way to survive and be successful in this market is to have visibility into the KPIs to drive manufacturing, maintain profitability, drive customer satisfaction and quality. We couldn’t have done that without Acumatica."
Bill Ferrin, Director of Information Technology
Portacool

Ready to put Acumatica to work for you?