Common Construction Contractor Bookkeeping Issues With Accounts Payable

Randal DeHart

Accounts Payable keeps track of the bills owed to a supplier or subcontractor. A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track unpaid bills.

Bullet-Proof Your Accounts Payable with 3-Way Matching

xendoo

The process of 3-way matching in accounts payable protects your business against incorrect or fraudulent invoices. One way that you can protect your business from fraudulent or incorrect invoices is by 3-way matching in accounts payable. Accounting

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Getting Paid 101: Accounts Payable and Accounts Receivable

xendoo

If you’re managing a business—and your books—you’ve probably had to learn what is accounts payable vs. accounts receivable. . Accounts payable and accounts receivable are two different sides of the same coin. What Is Accounts Payable?

The Ultimate Guide to the Accounts Payable Process

Snyderr

An accounts payable process helps your finance teams to manage this and build a reputation for timely payments. . What’s an accounts payable process? Benefits of accounts payable. Managing your accounts payable. Benefits of accounts payable.

Virtual Cards — Everything You Need To Know

Speaker: Eoin Hession, Controller at Recharge

Even though virtual cards have been part of the payments system for over ten years, there remains a lack of clarity around how they work and their value to companies large and small. In this webinar, Eoin Hession, Controller at Recharge, talks about how his company uses virtual cards in their operations. Sign up today!

Embracing Accounts Payable Automation: The Paper Vaccine

PYMNTS

While other departments may have abandoned manual, paper-based strategies years ago, accounts payable (AP) and finance departments held their ground on practices that seem to have changed little since the 1970s. where they account for 75 percent of all invoices.

Everything You Need to Know About Accounts Payables

AccountingDepartment

Accounts payable is a detailed list of a company's debt and liability owed from the purchase of services and goods. Receiving goods without payment and buying goods on credit are both recorded as accounts payable, too. Accounts payable is also known as trades payables.

Your Bottom Line Is Taking The Hit. Is It Poorly Managed Accounts Payable?

GrowthForceBlog

You know by now that accounts payable is more than just “paying the bills”. Accounting & Bookkeeping6 min read.

Accounts Payable’s Unstructured Data Problem

PYMNTS

According to Ashutosh Saitwal , founder and CEO of newly launched data management platform KlearStack , one area of the enterprise that is struggling the most with this challenge is accounts payable (AP).

Basware Debuts AI Tool For Accounts Payable Automation

PYMNTS

Once applied to a customer’s historical invoices, the AI learns and improves even more each time, but again, with very little human interaction required, saving the accounts payable team a tremendous amount of time,” Nikula said.

Strategizing Accounts Receivable To Drive Accounts Payable Modernization

PYMNTS

Increasingly, FinTechs and the businesses they serve are pulling double duty with solutions that tackle both accounts receivable and accounts payable friction for each end of the B2B transaction. Digitizing and modernizing B2B payments cannot be a one-sided effort.

The Emerging Spend Management Sector: Simplifying Your Accounting Processes

Speaker: Spencer Falbo, Principal at Kong Basile Consulting

In this webinar, Spencer Falbo, principal at Kong Basile Consulting will teach you how Spend Management can help to automate many of your processes, making your job as an accountant more efficient.

Regional Banks Guide Corporates To Future-Proof Accounts Payable

PYMNTS

Accounts payable (AP) teams and other financial functions of the enterprise were some of the hardest hit by the disruption caused by the global pandemic. “Companies are increasingly looking to more efficiently manage the accounts payable process,” he said.

Kofax Adds New AI Features For Accounts Payable

PYMNTS

Intelligent automation supplier Kofax has announced new innovations for its invoice and accounts payable (AP) solutions, according to a press release. B2B Payments accounts payable B2B Kofax News What's Hot In B2B

Why Cloud-Based Accounts Payable Is Make Or Break

PYMNTS

Employing accounts payable (AP) automation solutions can help smooth onboarding and streamline the data collection and analyzing processes, removing the many friction points that are prone to legacy systems.

Finexio Lands $2.5M For Accounts Payable Tech

PYMNTS

Accounts payable FinTech Finexio has announced $2.5 In August, Finexio also launched a payment processing collaboration with Payscout to streamline accounts payable and accounts receivable for joint customers. million in new funding from new and existing investors.

OpenText Debuts Integration Tool To Connect ERPs With Accounts Payable

PYMNTS

B2B Payments accounts payable B2B ERP News opentext Supply Chain What's Hot In B2B

Palmarius Debuts Accounts Payable Tool

PYMNTS

Cost containment solution provider Palmarius Advisors is rolling out an accounts payable (AP) automation solution designed to generate revenue and enhance spend control for corporate users. In a press release issued Tuesday (July 2), Palmarius Advisors announced that its AP solution provides automated reconciliation and increased security to mitigate the risk of fraud while simplifying accounts payable transactions.

Protecting Accounts Payable From Smarter, Faster Fraudsters

PYMNTS

In an interview with Doug Cranston, vice president of product management at Bottomline, the executive noted that in the age of speed, fraudsters are able to more easily exploit firms’ vulnerabilities, compromise their accounts payable process and get away with ill-gotten gains, often to vanish without a trace. They understand the payments space, they understand the settlement systems, they understand accounts payable,” he said.

Looking Beyond ePayments In Accounts Payable

PYMNTS

With adoption rates now rising, accounts payable (AP) departments have improved their positions within the enterprise as strategic functions, with the potential to offer greater insight into company operations. Businesses, though, are all at different levels in their accounts payable departments, not only in their journeys of digitization, but in their journeys to elevate their AP processes to deliver greater value to the enterprise at large.

Cegid And Esker Form Accounts Payable Tech Partnership

PYMNTS

Partnerships / Acquisitions accounts payable Cegid esker News partnerships What's Hot

Why Accounts Payable Is The ‘Lost Child’ Of Finance

PYMNTS

So it is with accounts payable (AP), as Chen Amit, CEO of Tipalti , told PYMNTS in a recent interview. Accounts payable is the ‘lost child’ hidden in business workflows,” said the executive. “I However, against the backdrop where such investment is limited by human capital and financial capital, the end result is that a wide range of accounts payable processes are manual. Of accounts payable in general, he said, “it’s a cumbersome process.

Accounts Payable AI Company Stampli Raises $25M

PYMNTS

The artificial intelligence-based accounts payable company Stampli has raised $25 million in a Series B funding round, the company announced Wednesday (Oct. B2B Payments accounts payable AI artificial intelligence B2B News series B Stampli Venture Capital What's Hot In B2BThe round was led by SignalFire, and Hillsven Capital, Bloomberg Beta and NextWorld Capital participated in the round. So far, the company has raised $32 million.

Tipalti Bolsters Accounts Payable Platform With AI-Powered Pi

PYMNTS

To make the complete payables process smarter, global payables automation company Tipalti unveiled its Tipalti Pi integrated payables intelligence engine, according to a press release. B2B Payments accounts payable B2B News Tipalti Tipalti Pi What's Hot In B2B

Accounts Payable Automation And Innovation Friction

PYMNTS

Innovation for accounts payable is often an afterthought, but automated solutions can efficiently onboard customers, cut back on errors and eliminate paper-based invoicing systems. Today In Data accounts payable artificial intelligence automation Commerce friction Innovation Invoicing News payments Today in Data

Kodak Automates Invoice Processing For Accounts Payable

PYMNTS

The company said its Kodak Services for Business will include invoice automation as the company pushes for further accounts payable (AP) automation capability. The solution does not automatically code invoices, though once coded and approved, invoice data is automatically integrated into accounting systems for seamless supplier payments. B2B Payments accounts payable AP AP automation B2B Innovation invoice automation News supplier payments What's Hot In B2B

10 Benefits to Automating Your A/P and QuickBooks Accounts Payable Through Software Apps

LSLCPAs

Accounts payable automation is an incredible tool to include in your accounting and bookkeeping processes. The A/P (Accounts Payable) software apps are intuitive and easy to use. Finance & Accounting News Accounts Payable

Compeat Steps Into Restaurant Accounts Payable

PYMNTS

In a press release last week, Compeat said Compeat Pay automates vendor payments by using virtual cards, ACH and check payments to enhance the security of accounts payable. Our internal accounting team was so excited about the new payments solution that we now use it to pay our vendors,” he said. B2B Payments accounts payable B2B Compeat News restaurant supplier payments virtual card What's Hot In B2B

Xerox Digs Heels Into Accounts Payable Sector

PYMNTS

Xerox is strengthening its position in the accounts payable services space with a new suite of business solutions. The five horizontal services include Intelligent Workplace Services to automate workflows, Capture & Content Services to capture data across channels, Accounts Payable services to automate invoicing and payments, Digital Hub & Cloud Print Services for cloud-based printing services, and Campaigns on Demand Services to manage marketing campaigns.

Streamlining The Accounts Payable Conversation

PYMNTS

To that end, IntelliChief, which provides document management and workflow management software solutions, said it has now added configurable index panels into its ECM platform, which means that the company has extended its accounts payable features to embrace non-purchase order invoices, building on top of previous automation efforts tied to purchase orders. B2B Payments accounts payable B2B intellichief

A ‘Payment-Agnostic’ Approach To Accounts Payable

PYMNTS

The competition is heating up between payment technologies in accounts payable, with ACH and virtual cards seeing significant pushes in the B2B payments space to combat the dreaded paper check. Such illustrates the importance of accounts payable being “payment agnostic,” according to Richard Jackman, president and CEO of B2B payments technology firm ePayRails.

Report: Worldwide Accounts Payable Software Market To Reach $1.567M

PYMNTS

Zion Market Research released a report about the accounts payable software market on Wednesday (March 20), estimating the market will reach about $1,567 million by 2025, according to a release by the company. Accounts payable software enables the enterprises to improve the accuracy of their financial data, save time on various business methods, and allow the staff to work on other tasks,” Zion said. “It

The Accounts Payable Conundrum: Same-Day ACH Vs Checks

PYMNTS

Accounts payable can be a contradiction showcasing the frustratingly slow pace of B2B payments digitization. In PYMNTS’ Payables Friction Playbook , “Why Firms Are Ready For An AP Upgrade,” a collaboration with Corcentric , paper checks came out on top as the most widely used payment tool by accounts payable (AP) departments. And yet, they’re also among the least liked by AP professionals, PYMNTS’ survey of 2,570 accounts payable professionals revealed.

How Cloud-Based Accounts Payable Portals Are Helping Secure The Spice Trade

PYMNTS

Smooth accounts payable (AP) processes are critical in the spice business, in which purveyors must send funds securely to vast numbers of distributors and growers worldwide. … We don’t write it down even, [but] it’s all in our accounts payable [system],”.

Yooz Taps SnapCheck To Digitize Checks In Accounts Payable

PYMNTS

Accounts payable (AP) solution provider Yooz has struck a strategic partnership with SnapCheck to address the friction of companies paying suppliers by check. In another statement, SnapCheck CEO Ken Kruszka described the partnership with Yooz as “a great opportunity” to help companies “modernize their accounts payable processes.

Esker, Fuji Xerox Team Up For APAC Accounts Payable

PYMNTS

Cloud-based accounts payable solution provider Esker is teaming up with document services unit Fuji Xerox to deploy accounts payable solutions across the Asia Pacific region, the companies announced on Wednesday (Feb. Fuji Xerox, a joint venture between Fuji and Xerox, will link its own corporate customers in Japan to Esker’s cloud-based accounts payable technology.

Accounts Payable’s Opportunity To Become A Profit Center

PYMNTS

There’s much discussion about the friction associated with traditional, manual, paper-based accounts payable (AP) processes, as well as about technology’s opportunity to address pain points. And more recently, AP technology service providers have also brought suppliers’ accounts receivable (AR) pain points into the fold, adding yet another incentive for companies to digitize and automate.

MineralTree, Visa Push For Cards In Accounts Payable

PYMNTS

Today, accounts payable firm MineralTree announced a collaboration with Visa with a goal of helping corporates pay their suppliers by virtual card. Their partnership will create a platform in which Visa’s Payables solutions and card technology integrates into MineralTree’s AP management tool and will be offered to financial institutions so they can support their own corporate clients’ commercial card payment needs.

Kodak, CoreIntegrator Roll Out Accounts Payable Automation Platform

PYMNTS

Kodak Services for Business is introducing a new accounts payable solution, the result of a collaboration with business process automation software firm CoreIntegrator. Once approved, A/P One creates a batch file that is sent to accounting systems to trigger vendor payment. The solution also supports efforts to reduce errors in invoice processing and vendor payment, as well as to prevent late payment fees resulting from lengthy manual accounts payable workflows.

Automate Or Stagnate: The Choice Accounts Payable Departments Face

PYMNTS

This stumbling block to innovation is often visible in accounts payable (AP) departments, Corcentric SVP of Sales Daniel Andrew told PYMNTS in a recent conversation. Organizations’ accounts payable departments perform at a certain level, and then stay there. Over time, he noted, accounts payable isn’t costing money. Inertia is a powerful, if unhelpful, force in business.

Edenred Steps Into Accounts Payable With CSI globalVCard

PYMNTS

The company said this week that it will roll out an accounts payable solution using a virtual card payment method, a solution, Edenred noted, that “offers security, speed and traceability” for easier supplier payments and reconciliation. The accounts payable (AP) tool will also offer a platform through which businesses can manage their cash flow and gain visibility into transactions.

Convincing Accounts Payable To Be Hands-Off With Supplier Payments

PYMNTS

With so many payment rails – and with buyers and suppliers in so many different places on their digital transformation journeys – how can a company’s accounts payable department ensure that vendor relationships remain strong, while navigating differing payment needs? “Accounts payable users have to deal with separate apps and separate processes, but there is no need for such overlap.”

A Simpler Vision For Accounts Payable Tech

PYMNTS

In accounts payable, for instance, the industry may not be at a point where it can perform as a strategic function of the enterprise, because many businesses — small and large — are still lagging in the most basic upgrades, said AP firm Anybill ‘s chief strategy officer, Sander Mueller. Anybill recently announced that data from its accounts payable services integrates into the accounting platform of QuickBooks.