Unlimited users just $99/month

Your whole organisation for one fixed price

Book a demo
View all templates

Accounts Payable

The Accounts Payable process is a critical business function that involves the management of payments to suppliers for products or services procured. The process includes the verification of invoices, approval acquisition, cost-saving identification, and timely payment release.

Workflow template includes the following steps

Step 1 — Invoice Receipt

The process begins with the receipt of invoices from suppliers for goods or services procured.

Due Date

Output Field Conditions

Step 2 — Invoice Verification

The received invoices are then verified for accuracy. This includes checking the details of the goods or services, the amount, the supplier details, and the date.

Output Field

Step 3 — Approval Acquisition

Once the invoices are verified, they are forwarded to the relevant department for approval. This step ensures that the goods or services have been received as per the terms and conditions agreed upon.

Due Date

Output Field Conditions

Step 4 — Cost-saving Identification

The Accounts Payable team also identifies areas where cost-saving can be achieved. This could be in the form of discounts for early payment, bulk orders, or negotiation of payment terms.



Step 5 — Payment Release

Upon approval, the payment is released to the supplier in a timely manner. This helps maintain good relationships with the suppliers and avoid any late fees or penalties.

Output Field

This workflow template can be used as is or edited, added to and expanded upon. You can delete steps you don’t need or add steps specific to the operations of your company.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

The Purpose of Accounts Payable

The Accounts Payable process is a pivotal part of any organization’s financial operations. It involves the management of the organization’s obligations to pay off short-term debts to its suppliers or creditors. The process is vital as it affects the cash flow and offers a clear picture of the organization’s financial health. A well-managed Accounts Payable process can help an organization maintain good relationships with suppliers, ensure timely payments, and avoid any penalties or late fees. It also provides an opportunity to identify areas of cost-saving, which can further contribute to the organization’s bottom line. The process involves several steps, including receiving and verifying invoices, gaining necessary approvals, and releasing payments in a timely manner. Each of these steps is crucial to ensuring the smooth and efficient functioning of the Accounts Payable process. An error in any of these steps can result in financial discrepancies, strained supplier relationships, and potential legal issues. Therefore, it is essential for organizations to have a well-defined and structured Accounts Payable process.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

Let Pneumatic Build a Unique Template for You

Pneumatic revolutionizes workflow management by leveraging AI to create custom workflow templates based on user-supplied prompts. Here’s how it works: you provide a brief description of the business process you need. Pneumatic’s AI algorithms analyze the prompt to understand the requirements, and specific tasks involved. Within minutes, a bespoke workflow template is generated in perfect alignment with your specific needs and requirements.

With Pneumatic’s AI-powered workflow template generator, you can engage in full-fledged business process discovery: just describe what’s going on at your company and Pneumatic will formalize it for you as a workflow template.

Use our Workflow Template Generator to create a customized template
for this business process based on your prompt

Learn more about Free Workflow Template Generator

Create an Account to Instantly Use
Our Workflow Template Generator

You can further customize the generated workflow template by inviting team members and assigning tasks to them, setting deadlines for each workflow and task, and adding conditions and variables to direct the flow of execution and information through each workflow.

Get Started with a Discovery Call

The server is not respondingPlease try again later