An accounts payable program allows you to organize your accounts, track your expenditures and apply credits from vendors. You can manage payroll accounts, track invoices and allocate expenses to specific bank accounts.
Many providers of account payable software design the programs to work with businesses based on the size of the business and the amount of money the business spends. It is common for one provider to offer several options where each solution provides increased features.
1. Identify your accounting needs and determine which accounts payable solutions will fulfill those needs.
2. Take advantage of online demos and free trail offers for accounts payable programs.
3. Consider online accounts payable software rather than programs you have to load on your computer.
Action Steps
The best contacts and resources to help you get it done
Determine what your needs are and understand accounts payable software basics
Do you need an A/P software with all the bells and whistles, or do you need a simple version? You may not be able to identify your needs until you look at what a software program has to offer. If you're new to software, utilize research, reports and comparisons from companies that specialize in accounts payable systems.
I recommend: R*Kom offers Tips on Buying Software, which provides an overview of things you should consider before buying an AP software. Download the Top 10 Accounting Software report from
Business-Software.com.
Tippit offers a free comparison of the leading financial and accounting software on the market.
Take A/P software for a trial run before you commit
Free demos or trials allow you test how well a specific accounts payable software will work before you buy the product. Make sure you can actually run the demo or trial; some companies offer demos with slide-show presentations rather than the opportunity to test the software.
I recommend: Red Wing Software offers a free demo, or you can request a demonstration CD from the company.
SpringCM offers a free demo and a trial for prospective clients.
Save hard-drive space with online accounts payable software
While many AP software solutions come in a box, or require installation on your computer, online AP solutions often allow you to use programs hosted by the provider. With this option, you save hard-drive space and you don't have to worry about upgrading your software; the company usually makes the upgrades. Keep in mind there may be hidden fees, additional charges or security problems from using an online program.
I recommend: NetSuite offers small- and mid-sized businesses web-based solutions for AP software. It also offers demos and a free trial.
Anybill offers Internet-based, scalable accounts payable solutions.
Tips & Tactics
Helpful advice for making the most of this Guide
- Some accounts payable software providers have hidden fees such as maintenance fees, tech support charges, networking charges or form costs, so be sure to research the total price.
- Consider how long a company has been in business before you buy. If the company producing your accounts payable software tool goes out of business, you may not be able to find tech support if you encounter a problem.
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