 |
|
Here’s How it Works
Accounts Payable is an online invoice coding, approval, and payment
system that adds value to a broad range of businesses
from legal services to healthcare to food service. You benefit from:
- Processing and payment of invoices without paper handling.
- Accessible from any location.
- Easy tracking of invoices being processed.
- Quick access to a complete audit record of approvals and changes.
 |
Step 1: Receive Invoices
Your invoices are received and converted to PDF images at Accounts Payable,
allowing them to be viewed online. Invoices can be accessed online for a period
of one year, after which they are archived.
|
 |
Step 2: Select Expense Codes
Payables Lockbox does the initial coding of invoices (numbers, dates, etc.).
Your company or designated representative assigns additional codes or comments,
such as your general ledger accounts or notes to the vendor) and receives email
notifications when invoices require review.
|
 |
Step 3: Approve Invoices
Your bookkeeper approves invoices using an online workflow process
configured to your requirements. All approval and editing activity is
recorded and can be easily audited. The enforceable approval process and the audit
record help create compliance with such regulations as Sarbanes-Oxley.
|
 |
Step 4: Mail and Record Checks
Accounts Payable sends a paper check or an ACH payment to your vendor. A file containing all
payment activity is ready for upload into your existing accounting system. Extensive
online reports are available showing accounts payable activity.
|
|
|
