Accounts Payable Definition
Accounts payable refer to money you owe another company for a purchase you made or a service they provided. Your balance sheet shows it as a liability, which means you owe it. A company’s accounts payable department usually manages this payment and its suppliers. The accounts payable and receivables department usually pays this balance after the due date to generate more cash flow. The acronym AP stands for accounts payable and is widely used as a short form of the term.
Features at Your Fingertips
From accounts payable and receivable functionalities to comprehensive online banking and beneficial integrations, Zil Money can meet the payment management requirements of all types of businesses.
Accounts Payables By eChecks
With Zil Money, you can make the accounts payable process as easy as possible. As an alternative to manually processing checks, you can generate digital checks from bank accounts online and then email them to the payee as electronic checks. It can be printed as a regular check and deposited into the payee’s bank account as a regular check. As per the Check 21 Act, the payee can print the eChecks on regular white paper. Using our highly secure software, your payee can only print checks once and reports everything from when an eCheck is sent to when it is opened.
Streamline Your Payments, with Zil Money
Most of the challenges every small business faces regularly can be solved with intelligent automated accounting software. Businesses can save days every month with simple, secure account payable software. Inefficiencies and errors affect account payable and general financial functions, from endlessly long invoice cycle time to lack of visibility, high costs, and control over liabilities. Zil Money’s payment services and automated invoice processing solution help businesses run efficiently and ensure that bills are paid on time. Eliminate manual data entry and embrace Zil Money to gain complete control over your economic liabilities.
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All In One Mobile App
Zil Money’s All-In-One Mobile App is a complete answer that integrates many financial features into a single platform without problems. This mobile application offers users various payment options, including ACH, wire transfers, eChecks, and the convenience of sending and receiving printable checks via email. As a result, it provides users with a unique level of flexibility. Users can also easily handle bills and payments, which speeds up the financial process.
FREQUENTLY ASKED QUESTIONS
What are accounts payable?
Is accounts payable an asset?
Is accounts payable a debit or credit?
Accounts Payable vs Receivable
PRECIOUS REVIEWS FROM
Vendor Management: Easily handle bill payments, instant check printing and mailing, invoicing, positive pay, and access User/API features across various platforms.
I had to be very cautious in a disputing situation when the check hasn’t arrived and goes to the bank, digging through all my paperwork.
Zil Money has made my life easy. Now I can print all the checks on Blank Check Paper and export from my QuickBooks as well.
I always have to give checks ahead in many situations. Now it’s so easy to keep up. Same way making deposit slips on demand also very easy.
I was confused of managing multiple companies as an accountant. I found Zil money then and now everything is just easy.
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