What is NetSuite Accounts Payable?
NetSuite accounts payable (AP) automates the review, approval and payment of supplier invoices, giving you greater control over the full procure-to-pay process. Maintain detailed vendor records, create and manage purchase requests and improve data accuracy by automatically matching invoices to the correct vendor and purchase order. Automated journal entries eliminate the need to manually enter debits and credits, saving time and ensuring payments are recorded accurately.
Go Beyond Basic Automation
Simplify and automate your entire accounts payable process by removing paper and manual invoice keying, matching, and payment processing. NetSuite AP Automation provides a fast and secure way to process invoices and pay bills directly through NetSuite.
Information at Your Fingertips
Gain real-time access to key accounts payable information including AP aging, check registers, invoices awaiting approval and payments in transit.
Power of the Suite
With NetSuite, accounting, sales, operations, purchasing and other departments can share information, seamlessly. Manage the entire procure-to-pay process on a single platform, monitor budgets to prevent overspending, automate approval workflows and time payments to preserve cash.
NetSuite Accounts Payable Features
Accounts Payable Dashboard
User-configurable dashboards, KPIs and alerts keep accounts payable processes running smoothly. Track open purchase orders, invoices awaiting approval, invoice due dates, scheduled payments and other key information in real-time.
Maintain detailed records on all suppliers, including contacts, mailing addresses, banking information, purchase orders, past payments and credit memos. Easily compare invoices received to vendor details to ensure accuracy, avoid late payments and reduce the risk of fraud.
Easily create and track purchase requests, automatically submit them to the appropriate managers for review and convert to purchase orders upon approval. Match vendor bills to POs and receiving documents to avoid overpayments or duplicate payments and reduce the risk of invoice fraud.
NetSuite AP Automation provides a fast and secure way to process invoices and make payments. Simply email or drag and drop digital invoices into NetSuite. Invoices are scanned, and relevant details are converted into digital text and entered within NetSuite. Take advantage of embedded banking services provided by HSBC to pay bills directly through NetSuite.
Schedule payments via cash, check, credit card or electronic transfer based on invoice due dates or apply custom rules to capture early-payment discounts. Automatically schedule and approve recurring invoices, such as utilities or subscriptions, that fall within predefined thresholds. Easily track and apply vendor credits to outstanding invoices.
Standard AP reports, custom reporting segments and saved searches allow detailed analysis by expense category, department, location and virtually any other relevant criteria. Track payments by date, status and vendor. Record prepaid expenses, sales taxes and contractor payments for 1099s and other tax forms.
Because of NetSuite, we haven't had to add additional headcount to manage AP and the procurement process.
NetSuite Accounts Payable Benefits
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Challenges NetSuite Accounts Payable Solves
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Guides & Blogs
Go deep into topics around NetSuite Accounts Payable.
- 8 Steps to Automate the Accounting Cycle (Blog)(opens in new tab)
- Accelerating the Order-to-Cash Cycle (Blog)(opens in new tab)
- NetSuite’s New Updates Help Accountants Accomplish More While Working Remotely (Blog)(opens in new tab)
- Guide to Continuous Accounting (Guide)(opens in new tab)
- The CFO’s Guide to AR/AP Automation (Guide)(opens in new tab)
Discover best practices and learn more about NetSuite Accounts Payable from beginner to advanced levels.