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Accounts Payable Software

There are only two ways to increase the bottom line - increase sales or control expenses. Accounts payable is the last chance to control expenses prior to money going out the door. Adequate software is a critical part of ensuring expense management success. This guide provides a practical how-to for selecting the right AP software to cut unnecessary costs and create efficiency in payables processing.

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The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter

What is Accounts Payable Software?

Accounts payable software provides the ledger and related software functionality for managing money owed by an organization to creditors. It provides a coordinated system for ensuring AP automation for tasks such as invoice processing, payables approvals, and executing payments.

Key financial benefits include:

  • Decrease labor costs related to paying expenses through automation
  • Avoid late payment penalties & take advantage of early payment discounts
  • Free up cash for interest earning positions or other business uses of capital by better timing of payments
  • Identify cost-cutting opportunities in corporate spending through better categorization, accountability, & visibility for expenses

Key Features

Functionality Definition
AP record creation Accounts payable software provides all the tools necessary to create records for payment obligations
Check-writing Creation and printing of individual checks or batch check runs for supplier/vendor payaments
Vendor/supplier database management A vendor database tracks vendor inforamtion such as name, contacts, preferred payment method, address, etc
Aging reports Aging reports allow users to report on AP records by the number of days they are outstanding
Records/account lookup (search) and filtering The ease with which the AP database can be searched and filtered can affect the effectiveness of company cost control efforts
1099 processing Creates the tax form documeting earnings for individual subcontractors paid by the company
Electronic payments Electronic payments use ACH or EFT formats to execute payments to vendors/suppliers and involve coordination of accounting capabilities
Recurring payments Provides pre-approval and execution for payment of repeating expenses
Purchase order reconciliation Coordinates workflows and provides functional support for matching AP & PO records
Payment approval authorization management Payment approvals require authorization based on user privelege levels in order to control final payment of accounts payable items
Due date alerting Custom notifications based on due dates can alert the relevant employees responsible for executing payments and help them avoid late fees via system messages, emails, or SMS
Positive pay support Positive pay is a means of enabling financial institutions from paying fradulent checks by uploading records of authorized payments for cross-verification

How to Find the Right AP Software Solution

Accounts payable software provides tools to help drive down costs, increase productivity, improve cash management and improve vendor relations. Understanding software options is critical to finding the best software program for your use.

Managing expenses is a task that every business, government agency, church, non-profit, or school faces. The size of your organization, your existing information system environment, and your particular functional requirements will determine which AP software option is right for you. In fact in most cases, accounts payable functionality will be part of a larger accounting or ERP system. Understanding your options in terms of which payables solutions are right for your needs can help you make the right call on a full accounting or ERP system.

Executive Initiatives Enabled by Accounts Payable Software

  • AP automation helps drive down cost. AP reports provide information on how much your firm is buying and from whom. This provides you with the information needed to negotiate with vendors for better payment terms and purchase price. This also helps you decide whether to consolidate purchases to fewer vendors and gain price breaks or move purchases to alternate vendors if better pricing or terms are available.
  • The right software can improve your payables efficiency. Strong AP software improves your staff efficiency by reducing the time needed to issue checks and prepare month/year end reports, reduce payment errors including duplicate payments and eliminate vendor late fees. Reduced errors means less time spent making corrections.
  • Reporting features in payables programs can help dramatically improve your cash management capabilities. Strong accounts payable software improves your cash management by helping decide when you should pay an invoice. Some vendors offer discounts for early payment, accounts payable software tells you if it’s better to make the payment now and take the discount or hold the payment for a later time. Scam artist abound, accounts payable software helps to determine the legitimacy of vendor invoices. And during hard times, accounts payable software helps you to negotiate with vendors so you can pay bills on a schedule that is more in sync with your incoming cash.
  • Improved vendor relations are a frequent outcome of better accounts payable software capabilities. Many accounts payable solutions now include support for ACH (Automated Clearing House) payments. ACH payment processing reduce the time spent and the cost of physical printing checks and mailing checks. Companies also use ACH or other forms of electronic payment to reduce instances of fraud and errors. ACH and electronic payment options are another example of how accounts payable software can reduce your costs.

Factors to Consider

  • Entering records and check printing. The most fundamental part of the payables process is recording the entry and cutting the check. The level of automation at this stage will surely have consequences in terms of the time you spend managing your accounts payable. When considering different accounts payable options, you’ll want to evaluate how different payables options provide you the ability to populate check fields, schedule batch check prints, and prepare the actual mailing of these payments.
  • Reporting. The ability to report on your accounts payable entries can have a significant impact on helping you to tighten your cash flow. For instance, if you discover you’ve been assessed interest charges by a vendor, you’ll want the ability to report on which payables have caused the charges. The amount of data available in these types of reports will be critical in helping you to quickly determine why the charges have occurred, the responsible parties, and how to avoid similar costs in the future. At a minimum level, you’ll want to create reports based on expense type, due date, payment date, payment period, payment status, internal source, and vendor. Perhaps most importantly, your accounts payable module needs to clearly show you which payments have been made, which have been made but have not yet cleared, and which have been processed.
  • The master vendor list. Your accounts payable module will not only track individual payments, but also provide you with an ongoing vendor database. The vendor list will need to be able to track information such as contact info, addresses, vendor terms, and other data. The precise way that each software package handles the vendor list will vary. You’ll want to make sure that the software supports all the vendor information you need to keep on hand. For instance, you may have a pre-established convention for setting up vendor codes. Does the software support the necessary number of characters and digits your codes require? The vendor list should also be easily sorted and exported for printing.
  • Purchase order and invoice reconciliation. Your accounts payable software should include controls to identify the authenticity of each payment. No one likes to think they’ve lost money through errors or fraud, but audits often turn up evidence this has happened. Associating each payment record with the original purchase order and/or the vendor bill helps reduce errors and fraud. Your software package should eliminate unauthorized payments specifically by reconciling invoices and PO’s with the corresponding AP entry.
  • 1099 reporting (US). Throughout the year, it’s likely that you’ll make non-payroll payments to non-corporate entities at some point. As the payee, you are responsible for providing the 1099 tax form. Your AP module should allow you to flag these payments and create the necessary paperwork.
  • Integration. Accounts payable transactions don’t occur in a vacuum; they’re part of larger business processes. Most importantly, your Accounts Payable module should efficiently deliver the payables ledger information regarding current liabilities to the balance sheet located in the general ledger. In many integrated accounting systems, this happens in real time. If for some reason integration isn’t possible, make sure the Accounts Payable module exports data to the general ledger in a format that it can interpret. Another key integration point is with the purchase order module. Integration with the Purchase Order module is important as both Accounts Payable and Purchase Order processes benefit from mutual access to the master vendor list. Bank reconciliation capability functionality may also be contained in its own application. If this is the case, integration is critical to identify which payments have been made and to reconcile the Accounts Payable and bank records.
  • Alternate payment methods. Many accounts payable solutions now include support for ACH (Automated Clearing House) payments. The advantage of using ACH payments is that it reduces the cost of physical printing checks, mailing checks and leads to quicker turn around in completing transactions.
  • Payment planning. The payment terms for different vendors vary greatly. There can also be an advantage to keeping cash on hand—potentially earning interest—until payment is actually required. Conversely, it can be beneficial to make early payments if there is a financial incentive for doing so. Some accounts payable software provide the ability to identify upcoming payments and when it is most beneficial to make the payment and take advantage of cash discounts offered by your vendors.
  • Advanced reporting. The level of reporting functionality will vary greatly between different solutions. Not all accounts payable packages will include the functionality, but the ability to customize fields, report using complex instructions, and create graphical reports can create additional efficiencies.
  • Rebates and vouchers. Accommodating the payment of funds that may or may not actually be cashed, creates a unique accounting challenge. Certain accounts payable modules will provide specially developed tools to manage these transactions.

Popular Accounts Payable Software Products

Looking for great accounts payable software options? Below you can check out a list of the products most commonly considered by others searching for accounts payable software. The list on this page is based on many years of real software matches. But everyone’s needs are different. Browse for fits with your specific requirements or let us help you identify your top options.

Which software is right for you? Get quick and accurate recommendations.

What if you could simply tell someone about your software needs and they’d find your best choices? Look no further. We’ll listen to your needs and find your top software matches. That’s it. There’s no pressure, no cost.

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter
  • Tipalti by Tipalti

    Pay partners globally in any currency Pay your partners anywhere in the world with Tipalti. The global system supports paying to any country of the world with multiple payment methods and currencies. Your partners and suppliers select whether...

  • AP Center by ICM Document Solutions

    AP Center is invoice approval from anywhere, anytime on any device. AP Centers dashboard provides an up-to-date view of pending approvals; users can quickly approve invoices with just a click. Easily configure workflow routing and approval hierarchy...

  • Sage Intacct by Intacct

    Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Key benefits of Intacct include: Automation of manual processes enabling faster delivery of accurate...

  • MineralTree by MineralTree

    *MineralTree streamlines the entire end-to-end AP process, rather than just individual components.* MineralTree is a cloud-based accounts payable automation solution for finance professionals that streamlines the end-to-end process of invoice...

  • AvidXchange by AvidXchange

    If you're looking for a way to make your Accounts Payable process more efficient, grow your company without hiring additional AP staff, or just get rid of manual tasks (like data entry), you should consider AP and Payment Automation. They commit...

  • Mekorma MICR by Mekorma

    Mekorma MICR is a check printing enhancement for Microsoft Dynamics GP allowing you to manage your checking accounts and print checks. This software is incorporated directly into Dynamics GP. Product Highlights: Use blank or pre-printed...

  • Acumatica ERP by Acumatica

    Acumatica is a cloud ERP system designed for the SMB market. Acumatica includes functionality for financial management, customer management, project accounting, distribution management, manufacturing management, field service management, and...

  • Binary Stream National Accounts by Binary Stream Software

    Do you need to consolidate vendor payment processing? Binary Stream’s National Accounts for Payables is the only Dexterity-based product that allows Microsoft Dynamics GP users to create parent and child vendor relationships,...

  • InfoFlo Pay by Carmel Vision

    InfoFlo Pay is a web-based and mobile friendly invoicing software that lets you create and send estimates/invoices to an unlimited number of clients! Easy Estimate Creation Create New Estimates: InfoFlo Pay allows you to create new...

  • Online Voucher by Complete Software

    Flexible Voucher Program Our Online Voucher application allows employees, vendors and management to submit vouchers for approval. With the task of data entry delegated throughout the organization, the accounting department can spend more time...

  • Dynamics GP by Microsoft

    Microsoft Dynamics GP is an ERP solution designed for small and mid-market businesses. Key capabilities of Dynamics GP include: Financial management and accounting Inventory management and...

  • Concur Payment by Concur Technologies

    The first employee request for vendor payment management solution to enable businesses to route miscellaneous payment requests for items such as legal services, subscriptions, or conference fees through the proper approval process before being...

  • Edisoft Merchant by Edisoft

    Edisoft Merchant serves one purpose: it electronically routs incoming purchase orders into your order entry system. This product allows you to automatically convert and transmit your invoices to your partners. This then allows for complete...

  • ePay by Enliven Software

    Automates the receipt of ACH and CC payments online using a customized internet payment gateway. With ePay, your customers have 24/7 access to their account online allowing them to review and pay their invoice directly through the website....

  • NetSuite ERP by NetSuite

    NetSuite ERP is a cloud-based, developer-hosted, cloud ERP software platform offered on a software-as-a-service (SaaS) basis. NetSuite advertises its ERP solution as "the world's most deployed cloud ERP" solution. NetSuite ERP is used by over...

  • Mercury Payment Systems by Mercury Payment Systems

    Our integrated payment processing platform helps merchants reduce errors in data entry, improve reporting, manage cash flow, and minimize risk. We help our partners succeed with fast, affordable, and dependable payment processing. ## Ecommerce Our...

  • PN3 Payables by Interactive Document Solutions

    ##Reduce Your Payables Processing Costs Accounts Payable processing represents a major percentage of "the cost of doing business". We believe this cost should be as low as possible. With this and only this philosophy in mind and by focusing on...

  • Tallie by Tallie

    Tallie’s mobile-enabled solution simplifies and accelerates the painfully manual expense report process by automatically capturing, categorizing and processing expense transactions and integrating seamlessly with leading accounting systems. The...

  • TRAVERSE by Open Systems

    TRAVERSE is an ERP system from Open Systems, Inc. offering financial, operations, and sales functionality. Traverse provides comprehensive integration for key business processes, while offering the ability to scale from 5 to 500 users....

  • ePay Advantage by Nodus Technologies

    ePay Advantage offers the latest online payment technology for enterprises that want to provide their customers with the convenience of online billing and payment collection. ePay integrates with Microsoft Dynamics GP to automate cash receipt...

  • Electronic Payments for NetSuite by Nolan Business Solutions

    Nolan Business Solutions’ Electronic Payments module enables businesses to define formats required by their banking software and to create output files containing the instructions to pay their suppliers. Electronic Payments for NetSuite allows...

  • Advanced AP ‑ Dynamic NAV Module by Open Door Technology

    Open Door’s Advanced AP is a comprehensive product that includes the ability to select from several check formats such as Check-Stub-Stub, Stub-Check-Stub, and Stub-Stub-Check. Also included is the Automated Check Signatures functionality that...

  • Executive Series by Searer Business Technology

    Executive Series Executive Series is a completely integrated accounting solution with strong drill down capabilities. Executive Series is fully customizable through source code to meet the unique needs of your company. Standard features...

  • CashBook by Peresoft Software

    Cashbook links directly with Sage ACCPAC ERP and provides you with a simple and practical answer to quickly print checks and more. Cashbook provides features like multiple years of history, online check and receipt printing, direct bank...

  • TimberScan by Core Associates

    TimberScan is the leading application designed exclusively for Sage 300CRE to automate its A/P approval process using built-in imaging technology. First released in 2004, it is now used by over 1100 Timberline companies internationally with over...

  • NetSuite OneWorld by NetSuite

    NetSuite OneWorld is the first and only on-demand system to deliver real-time global business management and financial consolidation to mid-sized companies with multinational and multi-subsidiary operations. With NetSuite OneWorld, you can manage...

  • SAP Business One by SAP

    SAP Business One provides comprehensive business management capabilities for small and medium sized companies. 50,000 plus companies utilize SAP Business One to provide integrated departmental support for finance, sales, supply chain,...

  • OnPay Solutions by OnPay Solutions

    ##Payment Automation Easy-to-implement cloud-based payment system that allows companies to automate electronic accounts payable Compatible with all Accounting or ERP systems -- even if check is the only payment type available in AP...

  • CurrencyXchanger by Clear View Systems

    CurrencyXchanger POS CurrencyXchanger POS is one of the most popular software systems for Foreign Exchange. Its simplicity and flexibility is second to none. If clients are thinking about automating their bureau de change for the first time,...

  • iPayables by iPayables

    iPayables allows Accounts Payable departments to reach more suppliers and receive more invoices electronically than any other solution. ##E-invoicing InvoiceWorks™ is designed to accommodate all of your needs. ##Scan to...

  • Sage 300 by Sage

    Sage 300 is a business management software solution designed for small and medium-sized businesses. Critical program functionality includes support for accounting, sales, service, purchasing, and inventory management tasks. Sage 300 helps...

  • Positive Pay by Isis

    This software allows you to perform Positive Pay functions with your Bank for the Accounts Payable and Payroll Modules of Microsoft Dynamics SL. After a company has issued checks (but before they distribute them), they provide a report of those...

  • Epay Manager by Level One Technologies

    Epay Manager is a fully functional electronic payment application. Our web based application works with your existing software to enable your company to pay and receive funds electronically, as well as take advantage of trade...

  • BillingMatters Plus® by LexisNexis®

    Time Matters® 6.0 with Billing Matters Plus® now includes advanced billing, full accounts payable and receivable, comprehensive trust accounting, a flexible general ledger, world-class check writing and reconciliation, and more. Firms needing basic...

  • Financial Edge NXT by Blackbaud

    Financial Edge NXT is the first-of-its-kind cloud accounting solution that’s intuitive, reliable, and built exclusively for non-profits. It is advanced technology with powerful reporting tools to help your accounting team drive efficiency,...

  • Toast Invoice by LWebSoft, LLC

    Toast Invoice gives you the ability to access your invoices and time calendar virtually anywhere. Easy to Use The number one thing that our users say about Toast Invoice is that it's so easy to use - saving you: Time, Money and...

  • EPS by Enterprise Performance Solutions

    EPS Product Line Description To ensure that manufacturing companies have easy access to cost and profitability information at all levels of the corporation, EPS has developed an industry-leading cost management software solution - the EPS...

  • OptiMatch by Essential Systems LLC

    Process control over payables means profit won't be comprised by account oversights and purchasing systems complexities. The OptiMatch™ system simultaneously monitors purchasing data to vendor invoices in real-time eliminating the need to...

  • Connected Accounting and ERP by Accountek Solutions

    Connected Accounting and ERP is a business management application designed for small to midsized companies. Connected can be deployed on traditional networks, with both Mac and/or PC clients, or in the Connected on Demand hosted cloud. The...

  • ExSpend by Excelliant Services

    The ExSpend Solution Suite provides automation for payments within your organization. It is a web-based system that automates the capture, compliance, and approval flow of payments to employees and vendors. Company and regulatory policies are...

  • CLS ‑ Checkwriter by Financial MicroSystems

    CLS - Checkwriter is your complete solution to your check writing needs. By implementing this software you will save hours otherwise spent on preparing and writing checks. To set up CLS - CheckWriter you are required to do only three things: set...

  • Payables21 by Global Advant

    Payables 21 provides a comprehensive solution to transform a fully paper-based payment process into an automated system that easily integrates with and complements existing ERP and accounting systems. Both buyers and sellers can better predict their...

  • Abila MIP Fund Accounting by Abila

    Gain more time to focus on your cause Abila MIP Fund Accounting is a configurable fund accounting solution that allows you to report and track information that is most important to you, your board and your supporters. To help you deliver on...

  • NexusPayables by Nexus Systems

    NexusPayables is the automated accounts payable software system that puts an end to the inefficiencies of the traditionally paper based and labor intensive AP process. The NexusPayables product is a web-based, PO and invoice workflow approval...

  • ACH for the PC by National EFT

    ELECTRONIC FUNDS TRANSFER We specialize in moving money electronically. Over the past five years ACH for the PC has processed MILLIONS OF TRANSACTIONS proving the software and service to be reliable, effective and a cost saving...

  • navicure Payments by navicure

    Patients pay for their groceries, mechanics and plumbers at the time of service. They should do the same with their healthcare. Your physicians have provided a valuable service and deserve to be paid for it. Unfortunately, with the move to...

  • Adagio Accounting Suite by Softrak Systems

    Adagio Accounting is a multi-ledger, modular accounting system that provides best-in-class audit controls and financial reporting capabilities. It is designed for small and mid-sized businesses that process significant volumes of transactions –...

  • AFTER For Windows by InterCoastal Technology

    InterCoastal Technology Inc.'s AFTER (Accounting For Travel Expense Reports) is the leading travel expense accounting system for businesses, with ten to ten thousand travelers, looking to automate the processing of expense reports. Since its...

  • CheckWrite 8 by Micro Craft

    Our Legal Series Software has helped thousands of law firms become more productive and profitable. We offer Verdict10 time and billing, LegalPad10 (a lite version of Verdict for entries only), General Ledger 8, CheckWrite 8 and Docket 9. Our...

  • Co‑opCenter by OpCenter LLC

    Used by purchasing cooperatives to enable the end-user to have an Amazon-style shopping cart experience. After 3-stage approval, the system generates a PO on the appropriate vendor in compliance with negotiated rates/contracts. PO is posted to the...

Your Accounts Payable Software Recommendations

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