Automate your accounts payable process
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.
Simplify and Automate
Eliminate error-prone, manual data entry, minimize the time and effort required to process bills and effortlessly handle exception processing when invoices don’t match purchase orders or receipts.
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.
Because of NetSuite, we haven't had to add additional headcount to manage AP and the procurement process.
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NetSuite Accounts Payable Benefits
NetSuite Accounts Payable Features
NetSuite accounts payable automates the processing and payment of invoices. AP-specific dashboards, reports and KPIs put you in total control of your company’s procure-to-pay process.
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.
Vendor Records
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.
Purchase Controls
Create and track purchase requests, automatically submit them to the appropriate managers for review and convert requests to purchase orders upon approval. Match invoices to purchase orders and receiving statements to avoid overpayments, duplicate payments or other errors.
Invoice Processing
Receive invoices via mail, email, vendor portal or fax. Automatically create bills from purchase orders or receiving data, saving time and minimizing error-prone data entry. Printed documents can be converted into electronic format and uploaded to NetSuite. Rules-based algorithms match invoices to vendor records and purchase orders automatically, allowing accounts payable personnel to focus on exceptions instead of manually reviewing invoices.
Payments
Make payments via cash, check, credit card or electronic transfer. Schedule payments 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.
Reporting
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.
Challenges NetSuite Accounts Payable Solves
How Much Does NetSuite Accounts Payable Cost?
Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?
Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for the initial set up. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.
Accounts payable capabilities are included with the NetSuite platform license.
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