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Improving the AP End of Month Close Process

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For example, they may reconcile vendor statements with the AP ledger to ensure there are no discrepancies or missed invoices. Ensuring that the AP function is properly integrated into the month-end close process is essential for accurate financial reporting and compliance with accounting standards.

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The major benefits of AP Automation.

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AP automation refers to software that handles the workflows associated with the AP process. At its most narrow, these steps include invoice verification, processing and approval, issuing payments to suppliers or vendors, and recording the payments in the accounting system. Features of AP automation software.