Accounts payable software — also called A/P software — can handle the needs of small, mid-sized and large businesses. In fact, the size of your business largely determines which accounts payable solutions are best suited to your needs. Small and home-based businesses might choose an out-of-the-box A/P software solution that integrates with Microsoft Office. Mid-sized businesses might consider hosted, accounts payable solutions that offer more features without taxing in-house resources.
Accounts payable solutions for larger enterprises are generally included as part of an ERP (enterprise resource planning) package. Whatever the size of your business, always look for A/P software and bill management solutions that are flexible and scalable for growth.
1. Entry-level A/P software.
2. Growing into more sophisticated accounts payable solutions.
3. Hosted accounts payable solutions.
4. A/P software as part of an ERP system.
5. Accounts payable solutions and bill management solutions for Macs.
The best contacts and resources to help you get it done
Entry-level accounts payable software
Many desktop A/P software and bill management solutions are ideal for small- and home-based businesses because they integrate so well with Microsoft Office.
I recommend: Small businesses that are converting from a manual to a computer-based financial system may want to check out
Peachtree First Accounting 2008, which was designed for just that purpose. Intuit’s
QuickBooks Bill Pay Service is a subscriber-based invoicing service for users of QuickBooks.
Microsoft Office Accounting Express 2008 is an entry-level accounts payable software solution targeted to home-based businesses that integrate Microsoft Word, Excel and Outlook.
Growing into more sophisticated accounts payable solutions
Many accounts payable software vendors have a progressive series of packages that allow you to graduate to more sophisticated versions as your business grows.
I recommend: Users of Microsoft Express may choose to upgrade to
Microsoft Office Accounting Professional 2008, which adds cash-flow forecasting, fixed asset manager and runs on SQL Server 2005. Peachtree has a progressive line of
six accounting products that top out with
Peachtree Quantum for companies with up to 200 employees. Check out
Peachtree’s Tools to Help You Decide to find the right product for your business.
2020software.com allows you to compare features and prices of different accounts payable solutions as does
Find Accounting Software.
Hosted accounts payable solutions
Hosted, web-based A/P software solutions spare businesses the trouble of running accounts payable software off their own servers while providing an off-site backup system.
I recommend: ExpenseWatch integrates T&E expense reporting with purchasing, budgeting and accounts payable invoice management.
Nexus Systems’ PayablesNexus is a web-based purchase order and invoice management application that integrates with general ledger accounting systems.
Khameleon’s project accounting software is a hosted project-based A/P software application.
Use an ERP system that includes accounts payable software
Larger companies need accounts payable solutions included in ERP systems that integrate the front and back offices, bringing together accounting, sales, marketing and other functions.
I recommend: Microsoft Dynamics GP 10.0 is a modular, integrated ERP solution that operates on Microsoft’s Web-based .Net platform.
Sage Accpac ERP software is an accounting package that integrates with its modular line of end-to-end solutions, including business intelligence and reporting, customer relationship management (CRM), e-commerce, human resource management and more.
Accounts payable solutions for Mac
While PCs tend to rule in accounting departments, small, creative, design-intensive businesses may want accounts payable and bill management solutions for their Macs.
I recommend: MYOB’s FirstEdge for Mac and
AccountEdge for Mac are progressive accounting packages that optimize small business accounting functions for Mac environments.
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