By switching from AP manual entry to best practices with advanced automated procurement to pay (P2P) software, your business lowers costs and saves time. And you improve internal control to reduce paying duplicate or fraudulent vendor invoices. Corporate governance, including over accounts payable and cash, is your responsibility. Use an automation add-in integrated with Intuit’s QuickBooks Online software for the best AP integration for QuickBooks.
In this article, we cover QuickBooks, AP automation, top QuickBooks accounts payable automation platforms, and how to select the accounts payable automation system that best meets your business needs.
A Brief Overview of QuickBooks
QuickBooks is accounting software owned by Intuit, with QuickBooks Online and QuickBooks Desktop product lines. QuickBooks is used by startups for bookkeeping, small businesses, and some mid-sized businesses with less than the limited number of QuickBooks users allowed in their QuickBooks pricing plan.
QuickBooks Online Advanced was released in August 2019. According to the QuickBooks Online Advanced FAQ, it’s designed for growing companies, with the ability to handle up to 25 users. QuickBooks Advanced adds new automation features. These features include automated workflows and advanced batch invoices & expense processing. QuickBooks Online Advanced is a step up from QuickBooks Online Pro. QuickBooks Online Advanced users include customers who have used QuickBooks Desktop Enterprise software.
CPAs and bookkeepers can be the Accountant User on QuickBooks Online if they don’t use QuickBooks Online Accountant. The Accountant User has access to their clients’ QuickBooks Online software via a list of links with each client’s name.
QuickBooks is designed to increase its basic functionality with a choice of hundreds of third-party add-on app integrations. One of the most beneficial types of add-on integration apps for QuickBooks is AP automation.
Automate AP and Invoices for QuickBooks
Accounts payable automation streamlines the entire payable process from vendor invoicing to payment. QuickBooks Online requires some manual data entry, including invoice data and the use of paper invoices. That’s the case if recurring payments and electronic banking transaction downloads aren’t selected.
By adding new features to QuickBooks Online or QuickBooks Online Advanced, you can get your small business to the level of top performer on the Accounts Payable Cost metric. What you need is the seamless API integration of a QuickBooks App that looks and feels like you’re using the QuickBooks Online software.
Best AP Automation Features and Benefits
AP automation uses data science AI and ML rules or algorithms to validate suppliers and invoices. That reduces fraud. Robotic process automation (RPA) automates routine AP workflow processes. Automation effectively handles the approval process by approver level and responsibility. AP automation can efficiently code and batch-process supplier invoice payments or other business payments. Payment automation can also generate employee expense reimbursement payments, global mass payments, and other cash disbursements (bill pay).
The best AP automation software uses a vendor’s preferred payment type and global currency. Payment types may include credit cards, prepaid cards, PayPal, checks, Global ACH payments, and U.S. ACH payments. Most of these payment methods are types of electronic funds transfer (EFT). Although the AP automation software vendor may offer wire transfers as a payment method, electronic ACH payments are often less expensive and safer than old-school wire transfers. Fraudsters may use wire transfer information to defraud.
The best AP automation software includes self-service vendor onboarding through a software interface called a Supplier Portal. Suppliers enter contact information. They email or upload vendor invoices into the system. Suppliers also provide W-9 or other required tax reporting forms. Supplier entry reduces errors and shifts part of the AP workflow to vendors. It reduces your accounts payable processing costs.
Then your company takes over. AP automation software matches paperless invoices with digital purchase orders and receiving documents for 3-way or 2-way matching. It can include optical character recognition scanning (OCR) to capture invoice data with line items and headers.
The best AP automation accounting systems use vendor verification databases. Automating AP includes an electronic push approval workflow with PDF documents attached. AP automation software gives only authorized personnel like the CFO and Controller access to cash accounts. You can pay invoices without inefficient and costly paper checks. Use either efficient large batch electronic payment processing or on-demand electronic cash disbursement. That’s called bill pay. The system can handle payment data for independent contractors like freelancers. AP automation produces informative real-time reports for the AP process.
Internal control features that you should seek in accounts payable automation software include:
- KPMG-certified FATCA tax compliance
- Audit trails
- Role-based views
These must-have features mitigate risk and ensure compliance.
Does QuickBooks Have AP Automation?
QuickBooks doesn’t provide AP automation in-house, but it offers an upgrade to some third-party apps that provide AP automation. These upgrades may not be as robust as the best software from the following list of AP integrations for QuickBooks.
Improve QuickBooks accounts payable with automation.
Tipalti-QuickBooks integration makes your business more efficient and capable.
Top 5 AP Automation Integrations for QuickBooks
A list of top QuickBooks AP automation add-ons is:
We highlight the features and pricing of each of these AP automation software products that seamlessly integrate with QuickBooks.
#1 Tipalti
Tipalti AP automation software provides end-to-end accounts payable process automation, including automated invoice processing and global payments. Cloud-based Tipalti software is a robust AP automation integration for QuickBooks (and any ERP or accounting software) that will accomplish all of your business needs for accounts payable, including straight-through automated invoice processing.
Tipalti replaces manual data entry for payables and payments by your AP team with finance and accounting automation, reducing human error. Also, Tipalti’s AP automation solution has enterprise-grade security and offers scalability for business growth
Features
- Self-service supplier onboarding through a Supplier Portal
- Collecting W-9 or W-8 forms and simplifying tax compliance with its KPMG-approved tax engine
- Choosing the preferred global payment method and local currency from 6 methods for 196 countries in 120 currencies
- Through major banks
- With a money transmitter license (MTL)
- Automating invoice receipt and payment status notifications
- Electronic invoice data capture by line item and headings using AI-driven OCR via portal upload or email
- Automated 3-way or 2-way invoice matching with purchase order (and receiving report)
- Validating vendors and achieving automated global regulatory compliance
- Automatically routes invoices and guides invoice approvals
- Electronic global payments in large batches with quick automated reconciliation
- AI-driven business intelligence and visible spend management
Pricing (drop-down menu)
Tipalti’s SaaS pricing model starts at $129 per month for the basic platform. Tipalti AP automation software with QuickBooks integration provides scalability, letting your company upgrade to add more functionality and users with growth.
#2 Plooto
Plooto, a Canadian company, provides accounts payable automation and accounts receivable automation software to businesses and their accountants. It only has integrations with QuickBooks and Xero.
Features
Plooto accounts payable features include:
- Import bills from your accounting software
- Custom rules to automate, route, and customize approvals with approval tiers
- Audit trails
- International payments in 30+ countries
- ACH/EFT payments
- Recordkeeping
- Spend and cash flow visibility
Pricing (drop-down menu)
Plooto pricing for businesses consists of two SaaS subscription plans, priced in Canadian dollars. The Grow plan is billed at $32 CAD/month, and the (free domestic transactions) Grow Unlimited plan is priced at $59 CAD/month. Plooto also offers three pricing plans for Accountants.
#3 Beanworks
Quadient AP by Beanworks provides accounts payable and accounts receivable automation software integrating with QuickBooks. The accounts payable software covers the procure to pay process, beginning with purchase orders.
Features
- End-to-end payables
- AI-powered data entry
- Automated invoice processing workflows
- 3-way invoice matching
- Automated approval routing
- Real-time dashboards and spend management visibility
- Document repository with access
- Strong controls
Pricing (drop-down menu)
Beanworks has separate pricing based on custom quotes for Purchase Orders, Invoices, Expenses, and Payments.
#4 SAP Concur
Concur Invoice is AP automation software offered by Concur, which is owned by SAP.
Features
- Invoice capture by mail, email, or electronically
- OCR and machine learning for header and line item invoice data capture
- Invoice processing
- Invoice goes to employee purchaser to enter distribution codes and percentage for the purchase, then employee clicks submit to send to approvers
- Approvers can approve via mobile app
- AP completes final review
- Audit trail of status changes
- Invoice payment via ACH, credit card voucher, check, or partnered payment provider
Pricing (drop-down menu)
SAP Concur Invoice pricing is based on a custom quote.
#5 Ramp
Ramp provides AP automation software with QuickBooks integration.
Features
- AI-enabled extraction of invoice data
- 2-way invoice matching to purchase orders
- Routed approvals
- Financial controls to detect duplicate invoices and reduce fraud risk and errors
- Lengthen payment terms with a button
- Bill payment status and visibility for spend management
- Payment methods of check, ACH, card, or international wire transfer
- Payments to 195 countries in 40 currencies
Pricing (drop-down menu)
Ramp offers SaaS subscription pricing plans including a free starter-level plan called Ramp, $12 per month Ramp Plus with controls and scalability for global expansion, and Ramp Enterprise (custom quote) for more security, compliance, and dedicated support.
Which AP Automation Integration Suits Your Business?
To select the best AP integration for QuickBooks, get input from your team to determine business needs and wants for new AP automation software functionality. Consider the available company budget.
In your software evaluation process, determine the cost reductions and time savings that will contribute to your company’s ROI. You’ll generate cost reductions from taking early payment discounts offered by your suppliers on time and from reducing hiring needs and invoice processing and payment costs (see calculator).
Focus on the add-in third-party QuickBooks AP automation software brand’s customer retention rate, customer testimonials, and customer service satisfaction rate and availability. Tipalti AP and finance automation software, used by over 3,500 customers, has earned a 98% customer retention rate and a 98% customer satisfaction rate. To choose Tipalti’s award-winning (integrated with QuickBooks) AP automation software, get started.
