Our payable department is considering going paperless. Are there any recommendation others are using to make this process secure?
Paperless Accounts Payable
Answers
Pay.com, just make sure you can suck the data into your
Anon
Interesting question you pose:)
In what way does your company think that paper based processing is secure or more secure than paperless?
Security is an aspect of internal control, regardless of paper/paperless, in my view.
Apart from the security aspect, what other reasons are making your company think about paperfree AP?
That may help us give you targeted responses/ideas.
Best
Len
1
We are trying to cut down on filing time & filing space by having everything put in our computer system. We are trying to be green.
There are many solutions that might meet your requirements. The problem with trying to recommend any paperless solution is you haven't provided enough information. Options will be different based on the size of your company, what software you are running, and what the budget for the solution might be.
1
Agreed Glen. Anon, can you help us with info like:
1. what system(s) do you use today for Purchase Reqs & Orders, AP invoice entry?
2. what business are you in (make, distribute, service and parts, services only)
3. are you in one location or many?
etc
It is impossible to go paperless. Try erp system...
1
True, there is no way to go completely paperless. You can, however, go considerably less-paper.
Check out the Square 9 application, it has some nice features.
Bill.com will allow you to go paperless and it also includes an electronic workflow for approval. All bills are emailed to Bill.com and stored. Bill.com automatically synchs with
2
We currently use Bill.com., but we file the hard copy after processing. Do you keep the hard copy or shred? Since IRS requires 7 years retention, are the documents stored in Bill.com for this length of time & acceptable by IRS?
Joan, my current bookkeeper is reluctant to use bill.com because they say that it is redundant and that they still have to enter the invoices into QB anyway. I have used bill.com in the past and liked it very much. Bookkeeper says that I shouldn't have to review invoices. Thoughts?
We are a small membership based association. We have 20 employees. Currently we pay our bills thru Bill.com. We are set-up with them thru our
If you are a small business - say under 10M in revenue, my go to service is bill.com. I use it for my company, and recommend to clients that I touch. There are integrations with Xero (another strong recommendation of mine), as well as QuickBooks, Intacct, and NetSuite, among others). From a process standpoint I lean towards a bit of a hybrid. I use Bill.com to make the payments and a duplicate storage for voucher packages (invoice/request). At the core though I digitize all invoices and receipts in the AP process and store on Dropbox, then pull into the ERP (Xero) as linked attachments. Would be happy to show anyone the method to my madness with screen share to get a better feel; just direct message me if interested.
Full disclosure - I am now technically a vendor partner with both Xero and Bill.com, so can run stuff through me if it makes mutual sense (I consult as a
It would help if you could clarify which area of the AP process you are looking to automate. A good way to look at the AP process is to break it into two distinct areas. One is related to the receipt, routing & approval, GL coding, and archiving of inbound invoices. The other piece deals with the payment process and ways to minimize paper checks and converting more of your suppliers to ePayments. I think you need to evaluate which of these 2 areas would have a bigger impact on your
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