Responsible for processing
all invoice and non-payroll payment. Generally, AP is liable to pay the certain
amount of money for which company buys goods or services on credit.
When a company purchases goods on credit which needs to be
paid back in a short period of time, it is known as Accounts Payable. It is
treated as a liability and comes under the head ‘current liabilities’. Accounts
Payable is a short-term debt payment which needs to be paid to avoid default.
Accounts Payable is a liability due to a particular creditor
when it order goods or services without paying in cash up front, which means
that you bought goods on credit. Accounts Payable as a term is not limited to
companies. Even individuals like you and me have Accounts Payable.
We consume electricity, telephone, broadband and cable TV
network. The bills get generated towards the end of the month or a particular
billing period. It means that the service provider gave you some service and
sends the bill which needs to be paid by a certain date or else you will
default. This becomes Accounts Payable.
Payables Dashboard:
Invoice Dashboard:
- Scanned: Incomplete invoices recorded in the application through scanning
- Recent: Total recently added and updated invoices
- Holds: Total invoices that are on hold, categorized by type of hold
- Prepayments: Available prepayments for invoices, shown in aging buckets
- Approvals: List of invoices you've created going through various approval stages
- Payments: Total amount due for payment
Payments Dashboard:
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