Accounts Payable Software Review
Along with managing your accounts receivable by improving your credit
and collections techniques, sound cash flow management demands that you
keep a sharp eye on your payables and expenses.
Each time you make a purchase from a supplier without paying for it at
the time of the purchase, you create an account payable (a payable) for
your business. Accounts payable are amounts you owe to your
suppliers that are payable sometime within the near future — "near"
meaning 30 to 90 days.
A temporary cash shortfall can be a death sentence for many
businesses. That's why it is critical to understand how to
manage all three components of your cash cycle: accounts receivable,
inventory and finally accounts payable.
Accounts payable is the forgotten stepchild of the cash management
system. Payables systems are often seen as just a bill paying
mechanism, and what, after all, can be done about that?
Payables are actually the least-managed, most neglected component of
the cash cycle, simply because most small-business managers assume there
is little that can be done about them. Psychologically, they have ceded
control over their payables to their vendors and simply adopted the
receivables standards of their suppliers. However, the truth
is... not all bills should be paid on time. Many large companies
figured this out some time ago and have adapted their high-end accounting
systems to wait until the last conceivable moment to pay a bill.
ManageMore boldly helps businesses succeed by taking advantage of
your cash cycle.
With ManageMore's Accounts Payable software, we provide tools
(typically only found in high-end A/P systems) necessary for any business
to extends its payment cycle intelligently. By providing instant
analysis of the average age of your payables (AAP) and keeping track
of your vendors payment policies, we make it easy to take advantage of
your debt with all vendors.
ManageMore's payables objective is to hold on to cash without
damaging credit relationships. The number one error that most
small business managers (and some large-business managers) make when
managing their payables is forgetting who they work for. Payables
management too often becomes the management of the vendors' receivables
systems instead of management of your company's disbursement system. In
addition, to speeding collections as much as possible without damaging
customer relations, one of the jobs of the financial manager of any
business is to hold cash as long as possible without damaging credit
relationships. ManageMore can help make sure that you don't pay vendor
bills until the minimum acceptable time frame allotted by your vendor.
Unfortunately, some managers confuse good management with unethical
behavior. The question of ethics in payables management is one that should
be addressed, because the business manager without a clear set of
priorities is unlikely to manage payables properly. The real
important issue is to have good inventory management combined with good
payables management to significantly reduce the cash needs of your
business. ManageMore can accomplish this by automating aspects of
your payables and ensuring your policies are followed all the time.
Let ManageMore's Accounts Payable software accurately manage vendor amounts owed,
due dates and available discounts properly. Create accounts payable invoices instantly
from existing purchase orders. Completely control payments processing and
the printing of checks. Never be penalized again for a late payment
charge or finance fee from your vendors.
Accounts Payable software... Perfect for Today's eBusiness!