Accounts Payable & Vendor Management

Setting Up AP Workflows

• Establish a clear approval process for all invoices: define who can authorize purchases, set dollar thresholds for different approval levels, and document the workflow.
• Code every invoice to the correct general ledger account and department to ensure accurate financial reporting and departmental budget tracking.
• Set up a consistent payment schedule (e.g., weekly or bi-weekly payment runs) to batch payments efficiently and maintain predictable cash outflows.
• Use AP automation tools to capture invoices, route approvals, and schedule payments, reducing manual work and minimizing the risk of duplicate or missed payments.