QuickBooks Accounts Payable Automation

QuickBooks Online and QuickBooks Desktop allow you to pay bills and invoices when you input the information into their system and then pay directly from your bank account. This process requires some manual data entry and, therefore, doesn’t strictly qualify as AP automation. However, AP automation for QuickBooks is made possible by the seamless integration with third-party apps.

This article explores how you can set up QuickBooks to run a completely automated accounts payable process, using ENVOICE for pre-accounting automation and approvals and the AP automation software of your choice.

With these smart and powerful integrations, you can get much more out of your QuickBooks software than ever before.

Pre-accounting Automation with Envoice

If you’re going to fully automate QuickBooks accounting software to run your accounts payable process, then you need to get your pre-accounting automation on track.

Envoice does just that by providing you with powerful automation features to extract data from your invoices and bills without manual data entry. Manual invoices can be scanned into the system, and electronic invoices can be received in one email inbox.

What happens then?

Data extraction

The AI and machine learning capabilities of Envoice go to work extracting information from bills and invoices. The feature, SmartExtract, comes standard with all subscriptions. This superior technology learns from its data sync with QuickBooks, the rules you set up, and your recording patterns. It becomes more intelligent as it learns, which means it will anticipate where to place data more accurately over time.

ExactExtract is their advanced human-in-the-loop verification feature, which provides you with 99.9% accuracy in data extraction. This number is rarely achieved with manual data entry.

Automation allocation to expense categories

The software also automates expense distribution by extracting line items from invoices and receipts, allowing you to easily allocate costs to specific cost centers or projects.

Automate approval workflows

This software has already saved time and eliminated human error by eliminating the need for manual invoice capture. However, there’s no value in saving time and money on data extraction only to lose it all again when your approval process lets you down.

With Envoice, you can set up workflow rules that give you automated invoice approvals.
The right team members will be notified electronically when their approval is needed and the system will keep track of all outstanding work. You’ll be able to move seamlessly from one part of your invoice approval process to another without any manual intervention.

You’ll be able to get everything squared up for payment in a very short time.

With Envoice taking care of all your pre-accounting tasks, you’ll be well on your way to early payment discounts and happy vendors. Also, Envoice is so user-friendly that you need minimal user training.

Envoice offers two monthly subscription services, Essential at $7 a month and Business at $14 dollars a month (which includes ExactExtract). You cannot get more advanced technology for a better subscription than this!

Integrate Envoice with QuickBooks now.

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Further reading:

15 Accounts Payable Best Practices for 2024
 10 AP Automation Best Practices for 2024

AP Automation Software

Now that you have automated all your pre-accounting, we can move on to the best AP automation software to complete the automation of your AP processes. We have 5 recommendations to start you off.

Stampli

Stampli is for larger AP teams that are serious about processing invoices with quick turnaround times. It’s especially made for teams that don’t want to change their AP processes and integrates perfectly with business ERPs for this reason. vendor lists, GL accounts, payments, and purchase orders sync with QuickBooks Online. Their AI, Billy the Bot controls, assists you across the entire invoice lifecycle.

Tipalti

Tipalti extends QuickBooks’s functionality by providing full management and execution of accounts payable, including supplier and invoice management. The software also does 2- and 3-way matching, payment reconciliations and simple global payments.

Plooto

With Plooto you can handle your workflow in the way you want, get complete audit trails, make secure ACH/EFT payments and get quick cash flow visibility. Plooto reduces the need for manual tasks and moves QuickBooks users to full payment automation.

MineralTree

MineralTree’s AP solution automates the entire invoice processing workflow. Their cloud-based software can scale from processing hundreds of invoices per month to thousands. An 80% reduction in cost is promised by reducing paper invoices and automating the payable workflow. You can maintain complete visibility and control over your AP processes.

Bill.com

With bill.com you can easily enter your bills, handle duplicate invoices, and pay millions of vendors worldwide. Direct two-way sync runs automatically or on-demand with the QuickBooks integration.

Full Accounts Payable Automation with QuickBooks integrations.

That brings our quick examination of how to fully automate accounts payable with QuickBooks. You don’t need to throw out the world’s favorite accounting software to benefit from the latest automation technology on the market. Simply, take care of the entire process from pre-accounting to AP analytics with Envoice and your choice of AP automation software.

To recap our discussion, Envoice is a pre-accounting automation tool that allows you to digitize all your bills and invoices through the use of data extraction technology. Because Envoice has concentrated its efforts on refining the AI and machine learning capabilities of its software for pre-accounting, it works better than the automation features of standard accounting software.

Alongside Envoice, an AP automation software that meets the needs of your business, will provide you with an end-to-end AP automation process.

We hope this discussion has broadened your view of what’s possible with QuickBooks. Accounts payable is advancing at a rapid pace with more companies processing more invoices faster. Vendors are now becoming used to the speed and efficiency as well the ability to track payments for themselves. So, don’t get left behind in the process of evolution. Act now.

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