Good accounts payable automation systems integrate all types of non-payroll spend, incorporate customizable approval workflows, and easily sync to a company’s GL. Airbase is the top accounts payable automation system for small to mid-market businesses, while Coupa is often the top choice for larger companies.

ACH stands for Automated Clearing House, and is a type of payment where money is transferred between bank accounts without having to use checks or wire transfers.

You make an ACH payment in Airbase by selecting the bill you wish to pay, indicating that you are paying by ACH, and choosing whether you wish to pay immediately, pay by the due date, or schedule a payment.

You don’t need special software to accept ACH payments, but your bank account does need to be set up to receive these payments.

Airbase uses Silicon Valley Bank as its ACH service provider.

Because Airbase’s ACH payment system is part of an integrated spend management platform with full reporting functionality, its ACH payment system is the best to provide real-time visibility into bill payments.

Many businesses are set up to accept ACH payments, but always confirm before sending a payment.

You can process an ACH payment in Airbase by selecting the bill you wish to pay, choosing if you are paying by ACH, and indicating whether you wish to pay immediately, pay by the due date, or schedule a payment. Once the payment request begins, funds move from your bank account to your Airbase account and then the vendor’s account. You can track the status in the Payment Tracker.

ACH transfers are more secure than checks. However, because there is always a risk in any payment type, it’s important to make ACH transfers through a secure platform like Airbase.

You control physical credit card spending by creating cards in Airbase that are unique to an individual employee with predetermined limits. Because the cards provide visibility into all card activity with real-time reporting functionality, the status of the budget is always available, and the lever of control can be adjusted as needed.

In Airbase, the spend owner needs to have user permissions for Manage Card Spend Controls in order to change the limit.

Spend controls are systems and processes that support budget compliance with up-front approvals for purchases, or limits on dollar amounts and expiration dates.

The best free business expense software enables real-time reporting, provides visibility into all types of spend, issues reimbursements right from the platform, and is easy for all employees to use. When these features are in place, the process of putting together expense reports isn’t necessary.

To get approval for online expenses in Airbase, you start by completing a request for a virtual card or a purchase order. The request automates the approval process based on the information provided and will route it to the correct approval chain.

The best employee expenses software automates expense reports, provides visibility into all types of spend, and is easy for all employees to use for approvals, spending, and uploading receipts.

With Airbase cards, there is no need to do an expense report. An automated approval system sets spend parameters in advance. The finance team can therefore track spending without having to reconcile credit card statements or bills, and know that all requests are compliant with company policy.

The best expense management process is one in which all spending, for all payment types, flows through set approval worklows and is visible as each transaction takes place.

AP automation uses automated systems to improve the speed and accuracy of accounts payable processes.

Airbase’s software is used for accounts payable automation in order to automate all stages of a transaction, from initial approval to GL sync.

In plain language, AP automation means using automated processes to perform accounts payable tasks, such as bill payments, employee expense reimbursements, and invoice processing.

Some advantages to automated accounts payable include hours of time saved by reduced manual work, improved accuracy, greater visibility, and less ambiguity about expense management policies, since the system itself can enforce compliance and apply budget controls.

You can automate AP processes with Airbase’s spend management system, which automates all steps of a transaction, from initial request to GL sync.

Cost controls are systems and processes that prevent unnecessary and over-budget spending. When cost controls are automated and rule-based, cost controls can be applied in a manner that is transparent to employees, while removing the burden of oversight from AP.

You control costs by implementing AP systems that give end-to-end visibility into employee spending with automated approvals that set spending limits up front and provide real-time reporting. With this insight into spend activity, you can adjust spending limits to achieve budget targets.

The best cost control software gives end-to-end visibility into employee spending with automated approvals that set spending limits up front and provide real-time reporting to monitor costs.

A purchase order is a document that confirms the terms of an order and provides detailed documentation of a purchase.

Some purchase order software benefits include providing accountability and control over a purchase request. This reduces the time spent on procurement, and ensures clear processes for both purchases and finance teams.

A purchase order is a document that confirms the terms of an order and provides detailed documentation of a purchase.

The best automated purchase order software attaches all relevant documentation to a PO, matches invoices to the corresponding PO, and syncs all transactions to the GL as payments are made.

Spend management is a completely new approach to handling every non-payroll dollar that leaves a company. It encompasses, bill payments, employee expense reimbursements, and corporate credit cards, all supported by automated accounting, approval workflows, and real-time reporting.

The best spend management platforms provide a holistic solution that includes all payment types — cards, checks, ACH, wire transfers, and vendor credits — and are built on a base of automated accounting, approval workflows, and real-time reporting. When accounts payable, corporate credit cards, and employee reimbursements are consolidated on a single platform, every non-payroll dollar that leaves a company is easily tracked.