With an accounts payable software you manage your short-term liabilities (or in case of accounts receivable also your short-term receivables). A software does the posting to the related accounts automatically and also transfers the corresponding amount to the supplier (vendor) on the due date. In the following, we present three tools that make accounts payable accounting as easy as possible for you.
The 3 most popular accounts payable softwares
Agicap
Agicap integrates with many accounts payable tools (e.g. accounting butler). This means that the due dates of supplier invoices and their amounts are automatically retrieved by Accounting Butler and transferred to Agicap's cash planning. So at the due date, the cash flow then changes in the amount to be transferred.
The same is done for the debtor accounts, i.e. the customer invoices, whose amounts the company expects as incoming cash flow at a certain time in the future.
Accounting Butler
With the Accounting Butler tool you create accounts payable and accounts receivable for your customer and supplier invoices. The invoices are uploaded to Accounting Butler and then sorted into the respective accounts. When a recurring invoice is issued to a customer or from a vendor, it is automatically posted to the designated customer or vendor account.
If a payment is made on the due date, a document is automatically created for it and assigned to this transaction. The corresponding customer or vendor account is suggested to the user for posting and only needs to be confirmed.
Sage
Sage works in a similar way to Accounting Butler: you open accounts payable and receivable and then record the amounts and due dates of the respective invoices in them. When a payment is due, Sage makes it automatically.
The tool displays an overview of all open accounts receivable and payable, so that you can see at a glance how much you owe suppliers and how much you still have to expect from your customers.
What is accounts payable software?
Accounts payable software is used to post vendor and customer invoices separately to designated accounts. When a payment is made, it is posted to expense or revenue accounts and the associated accounts receivable or payable account is reduced by the amount paid.
All these steps are performed automatically in the software, saving a lot of time in recording and in the individual posting processes. Keeping separate accounts receivable/payable and expense/revenue accounts serves to help you find current payables and receivables faster.
What is the benefit of accounts payable software?
With accounts payable software, it is possible to separate current payables and receivables from non-current ones. This provides businesses with a better overview of what income and expenses they will have within the coming months.
What are the functions of an accounts payable software?
An accounts payable tool records vendor invoices (and customer invoices in the case of accounts receivable). The due dates and amounts are stored in a database and are linked to the respective vendor or customer account.
When a payment is made (i.e. a vendor invoice is settled or a customer payment is received), the associated vendor/customer account is reduced by that amount. You can therefore see which suppliers are owed which amount and what the individual customers still owe the company.
Our tips for choosing accounts payable software
You will save the most time if you rely on as much automation as possible in your accounts payable. Specifically, this means making sure that recurring invoices are automatically posted to the designated account. A tool that also automatically initiates accounts payable payments when the due date is reached will make the job even easier.
If you also want to look at how current payables and receivables affect your cash flow, you should use a liquidity management tool like Agicap. In it, you can see exactly what income and expenses you can expect in the coming months and plan your investments and expenses accordingly.
Conclusion: these accounts payable software are worthwhile
Accounting Butler and Sage are both suitable for efficient accounts payable. With them, you'll record all your vendor invoices, including due dates, so you don't have to worry about unpunctual remittances anymore. In fact, both tools take care of the payment automatically.
With both Accounting Butler and Sage, you have the option to view your short-term payables and receivables in detail, so you know exactly what payments are coming your way in the near future.
You can further refine your accounts payable (and accounts receivable) by using a cash flow management tool like Agicap. In the case of accounting butler, there is the possibility of integration. Agicap then retrieves all accounts payable and receivable data from Accounting Butler and includes them in the cash flow planning.
You can then see in detail how these payments are composed in connection with all other income and expenses that are not recorded in the accounts payable software. The result is a transparent representation of your future company cash flow.
The 3 most popular accounts payable softwares
Agicap
Agicap integrates with many accounts payable tools (e.g. accounting butler). This means that the due dates of supplier invoices and their amounts are automatically retrieved by Accounting Butler and transferred to Agicap's cash planning. So at the due date, the cash flow then changes in the amount to be transferred.
The same is done for the debtor accounts, i.e. the customer invoices, whose amounts the company expects as incoming cash flow at a certain time in the future.
Accounting Butler
With the Accounting Butler tool you create accounts payable and accounts receivable for your customer and supplier invoices. The invoices are uploaded to Accounting Butler and then sorted into the respective accounts. When a recurring invoice is issued to a customer or from a vendor, it is automatically posted to the designated customer or vendor account.
If a payment is made on the due date, a document is automatically created for it and assigned to this transaction. The corresponding customer or vendor account is suggested to the user for posting and only needs to be confirmed.
Sage
Sage works in a similar way to Accounting Butler: you open accounts payable and receivable and then record the amounts and due dates of the respective invoices in them. When a payment is due, Sage makes it automatically.
The tool displays an overview of all open accounts receivable and payable, so that you can see at a glance how much you owe suppliers and how much you still have to expect from your customers.
What is accounts payable software?
Accounts payable software is used to post vendor and customer invoices separately to designated accounts. When a payment is made, it is posted to expense or revenue accounts and the associated accounts receivable or payable account is reduced by the amount paid.
All these steps are performed automatically in the software, saving a lot of time in recording and in the individual posting processes. Keeping separate accounts receivable/payable and expense/revenue accounts serves to help you find current payables and receivables faster.
What is the benefit of accounts payable software?
With accounts payable software, it is possible to separate current payables and receivables from non-current ones. This provides businesses with a better overview of what income and expenses they will have within the coming months.
What are the functions of an accounts payable software?
An accounts payable tool records vendor invoices (and customer invoices in the case of accounts receivable). The due dates and amounts are stored in a database and are linked to the respective vendor or customer account.
When a payment is made (i.e. a vendor invoice is settled or a customer payment is received), the associated vendor/customer account is reduced by that amount. You can therefore see which suppliers are owed which amount and what the individual customers still owe the company.
Our tips for choosing accounts payable software
You will save the most time if you rely on as much automation as possible in your accounts payable. Specifically, this means making sure that recurring invoices are automatically posted to the designated account. A tool that also automatically initiates accounts payable payments when the due date is reached will make the job even easier.
If you also want to look at how current payables and receivables affect your cash flow, you should use a liquidity management tool like Agicap. In it, you can see exactly what income and expenses you can expect in the coming months and plan your investments and expenses accordingly.
Conclusion: these accounts payable software are worthwhile
Accounting Butler and Sage are both suitable for efficient accounts payable. With them, you'll record all your vendor invoices, including due dates, so you don't have to worry about unpunctual remittances anymore. In fact, both tools take care of the payment automatically.
With both Accounting Butler and Sage, you have the option to view your short-term payables and receivables in detail, so you know exactly what payments are coming your way in the near future.
You can further refine your accounts payable (and accounts receivable) by using a cash flow management tool like Agicap. In the case of accounting butler, there is the possibility of integration. Agicap then retrieves all accounts payable and receivable data from Accounting Butler and includes them in the cash flow planning.
You can then see in detail how these payments are composed in connection with all other income and expenses that are not recorded in the accounts payable software. The result is a transparent representation of your future company cash flow.