A fundamental question of accounting and finance is: what is accounts payable? Accounts payable (AP) is an accounting term that means: “The money you owe for goods or services you have purchased but not yet paid for.” Accounts payable also …
What is GL Coding and How to Automate It
GL coding is the application of general ledger code (GL Code), a string of alphanumeric characters assigned to each financial entry in an organization’s general ledger. These codes indicate basic information such as a debit or credit by location, or …
Why Does SOC 2 Matter in AP Automation?
Your auditor, lawyer, or consultant says you need audited SOC 2 AP automation. What does that mean? And is it REALLY a requirement? Or just another certification that adds cost to AP automation? Read on to find out! What is …
How Much Time and Money Does Invoice Automation Save?
When it comes to invoice processing, implementing an AP automation solution will allow your company to Work Smarter, Not Harder. If you haven’t already, now is the time to do an AP calculation. Processing a SINGLE invoice manually can cost …
What are the Invoice Processing Steps?
We’ll go through the typical invoice processing steps and then show you ways to improve the process. Are you are a business owner overwhelmed by the growing complexity of your invoice processing? Or someone tasked with creating efficiency in your …
AP Automation: A/P One for Small to Mid-Market Businesses
AP automation software isn’t just for big corporations anymore. Now there’s A/P One accounts payable software for small to mid-market organizations. In fact, any sized business that processes more than 250 invoices per month can save time and money with …
Invoice Imaging – Cheap and Easy Data Capture
Capturing invoice data and invoice imaging are tedious tasks. No one actually enjoys spending hours a day entering invoice data into an accounting, ERP system, or even an AP automation solution. And manual invoice data capture is incredibly prone to …
AP Automation Makes 3 Way Match or 2 Way Match Simple
3 way match is best practice when it comes to accounts payable. But 2 way match in accounts payable is ‘good enough’ for many accounting departments. What are 3 way match and 2 way match in accounts payable? Why do …
What to Look for in Accounts Payable Automation Software
Finding the best accounts payable automation software for your company or organization can be a challenge. AP automation that misses a single decimal point on an invoice can result in an underpayment or overpayment of thousands of dollars. So you …
What is AP Automation?
AP Automation (Accounts Payable Automation) is a solution used by accounting teams to digitize and streamline the processing of purchase orders and invoices. AP Automation software uses advanced optical character recognition (OCR) technologies integrated with robotic process automation (RPA) software …