Processes
Process accounts payable (AP)
How process accounts payable (ap) are reshaped as AGI capability advances.
ProcessesProcess accounts payable (AP)
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Browse within Process accounts payable (AP)
- Adjust accounting records
- Approve payments
- Audit invoices and key data in AP system
- Maintain/Manage electronic commerce
- Process financial accruals and reversals
- Process payables taxes
- Process payments
- Research/Resolve payable exceptions
- Respond to AP inquiries
- Retain records
- Verify AP pay file with purchase order vendor master file
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How the work flows
Trigger: An invoice is received from a supplier or vendor for goods or services provided.
- Receive and capture supplier invoices
- Perform matching against purchase orders and receiving documents
- Route unmatched invoices or exceptions for review and resolution
- Approve validated invoices for payment
- Schedule and execute the payment transfer
- Update the accounts payable ledger and reconcile the transaction
Outcome: The supplier is paid according to the agreed terms and the accounts payable ledger is accurately updated.
Measured by
Cost Per Invoice ProcessedInvoice Processing Cycle TimeFirst-Pass Match RatePercentage Of Invoices Paid On Time