Best Accounts Payable Software for 2025
The best accounts payable software can turn a tedious task into a smooth process. When you compare our top picks, you'll discover solutions that simplify payments, track invoices, and manage expenses with ease. Compare different accounts payable software solutions & find the best tools that will help your business stay organized and efficient.
- 7 million customers worldwide
- Safe & Secure
- Save an average of $2,100+ per year
- Accounting software for small businesses
- Award-winning customer service
- Seamless integration & user-friendly
- Advanced analytic accounting
- Beautiful user interface
- Electronic invoicing & automated follow-ups
- Send & receive bank transfers
- Seamless sync with QuickBooks & Xero
- Make payments across borders
- 30-day free trial
- Get paid 2x faster
- Save up to 50% of time on accounts payable
- Manage recurring payments
- Send out automated reminders
- Track payments with ease
- Customized plans for every business
- Supports global payments in 120 currencies
- Modern, adaptable platform
What Is Accounts Payable Software?
Accounts payable (AP) software is a financial management solution that helps you automate, manage and pay all vendors, suppliers, and creditor payouts. This includes invoice management, payment processing, and vendor communication. The software is designed to improve the efficiency, accuracy, and visibility of financial transactions, making it easier for small business owners to manage their finances and keep track of expenses.
Types of Best Accounts Payable Software
There are several different accounts payable software platform options, including:
- Cloud-based software: This is hosted on the provider’s servers and can be accessed through a web browser. This allows you to access your data from anywhere, at any time, and from any device with an internet connection. Additionally, cloud-based software typically offers automatic updates, so you don’t need to worry about manually updating your software to the latest version. In addition, this type of software is designed to be scalable, so it can grow with your business as your needs change over time.
- On-premise software: This software is installed and maintained on your own servers, which means you have more control over data security and customization. However, this also means that you need to have the necessary IT support in place to manage and maintain the software. If you’re not sure whether you need cloud or on-premise accounts payable software, you can always check with your IT department.
- Integrated software: This type of software is designed to work seamlessly with other financial management systems, such as accounts receivable or enterprise resource planning (ERP) software. This means that you can have a unified solution for multiple financial processes, which can help to streamline your operations and reduce the risk of errors or inconsistencies. Additionally, because the software is integrated, you can often save time and reduce manual data entry by automatically sharing data between systems.
Customized plans for every business
Supports global payments in 120 currencies
7 million customers worldwide
Safe & Secure
30-day free trial
Get paid 2x faster
Send & receive bank transfers
Seamless sync with QuickBooks & Xero
Accounting software for small businesses
Award-winning customer service Top Features of Accounts Payable Software
Accounts payable software typically includes the following features:
Invoice management allows users to capture, store, and track invoices from vendors. With online invoicing, users can easily manage and process payments, which can save them time and reduce the risk of manual errors.
Payment management features automate the payment process, allowing users to schedule, approve, and track payments to vendors. This leads to a reduction in the risk of late payments, wrong payment amounts, and other errors.
Vendor management is another feature that can be useful. This feature helps users to maintain a database of vendor information, track vendor performance, and communicate with vendors directly through the software. By using this feature, users can keep a closer eye on their relationships with vendors and make any necessary adjustments.
Reporting and analytics features provide insights into accounts payable performance. This can help users identify areas for improvement and make informed financial decisions. By using this feature, users can gain a better understanding of their accounts and take steps to optimize their financial processes.
Benefits of Accounts Payable for Small Businesses?
The benefits of automating the accounts payable process are numerous. One advantage is improved efficiency. By automating the bookkeeping process, businesses can save time and reduce the risk of errors associated with manual data entry. This can free up employees to focus on other tasks, such as customer service or business development.
In addition to improved efficiency, accounts payable software also provides enhanced visibility into financial transactions. This real-time visibility can make it easier for businesses to monitor their cash flow and make informed financial decisions. For example, if a business sees that it is consistently paying a particular vendor late, it may choose to negotiate better payment terms or even seek out a new vendor.
Streamlining the accounts payable process can also lead to better vendor relationships. By paying vendors on time, businesses can build trust and goodwill, potentially leading to better pricing or payment terms in the future. Moreover, automated accounting software can make it easier to communicate with vendors, potentially reducing misunderstandings or disputes.
Finally, as a business grows, accounts payable software can scale to accommodate a higher volume of transactions without the need for additional resources. This can help businesses stay lean and efficient as they expand their operations. In short, automating the accounts payable process can bring numerous benefits to businesses of all sizes, from improved efficiency to better vendor relationships and increased scalability.
Who Uses Accounts Payable Software?
Accounts payable software is used by businesses of all shapes and sizes, including:
Accounting departments: Accountants use accounts payable software to consolidate AP information with other financial data, ensuring accurate financial reporting and decision-making.
Vendors and suppliers: Suppliers can use online portals within the software to submit invoices, access payment information, and communicate with customers, streamlining the invoicing and payment process.
Challenges with Accounts Payable Software
While accounts payable software can be incredibly beneficial to businesses, it’s important to keep in mind that there are also several challenges that they may face. In addition to the points already mentioned, main challenges include:
Customization needs: Depending on the business’s unique requirements, they may need to customize the software to fit their specific needs. This can require additional time and resources to ensure that the software is tailored to their business processes and workflows.
Maintenance requirements: Like any software, accounts payable software requires regular maintenance to ensure that it continues to function correctly and efficiently. This can include software updates, bug fixes, and other maintenance tasks that require time and resources from the business.
Data security and privacy regulations: Depending on the industry and location of the business, there may be specific data security and privacy regulations that they need to comply with. This can require additional resources to ensure that the software is configured correctly and that data is stored and transmitted securely.
Scalability concerns: As the business grows and expands, its accounts payable software needs may also change. Businesses need to ensure that the software they choose is scalable and can meet their needs both now and in the future.
Finally, some businesses may need to invest in additional resources, such as IT support, training, and security measures. By doing so, they can ensure that their accounts payable software is implemented correctly, maintained properly, and used effectively to streamline their financial processes.
Software Related to Accounts Receivable Software
While accounts payable software is an important tool that can help businesses manage their financial operations more effectively, it’s not the only solution available:
Accounting Software
Accounting software is a type of software that helps businesses manage their financial transactions, including accounts receivable. With accounting software, businesses can track and manage their invoices, payments, and outstanding balances. It can also generate financial statements, such as balance sheets and income statements, which can help businesses get a better understanding of their financial health.
Online Invoicing
Online invoicing software is a tool that helps businesses create and send invoices electronically to their customers. With online invoicing software, businesses can streamline their accounts receivable processes, to quickly and easily create and send invoices to customers. Online invoicing software can also automate payment reminders, which can help businesses improve their cash flow by ensuring timely payments.
Bookkeeping
Bookkeeping software is designed to help businesses keep track of their financial transactions, including accounts receivable. With bookkeeping software, businesses can easily record and categorize their income and expenses, track their invoices and payments, and reconcile their bank accounts. Bookkeeping software can also generate reports, such as profit and loss statements and balance sheets, which can help businesses make informed financial decisions.
Accounts Receivable Software
Accounts Receivable software is a type of software that helps businesses manage their outstanding invoices and payments from customers. With accounts receivable software, businesses can track and manage their invoices, payments, and outstanding balances. This software can automate payment reminders and follow-ups, making it easier for businesses to collect payments on time and improve their cash flow.
Accounts payable software can provide significant benefits for small businesses, helping to streamline processes, improve efficiency, and reduce costs. The days of manual input and losing sleep over tedious bookkeeping tasks are now over!
