Understanding Accounts payable invoice processing?

# What is accounts payable invoice processing? Accounts payable (AP) invoice processing is the accounting function responsible for managing money owed to suppliers. It involves receiving supplier invoices, verifying their accuracy, obtaining approvals, processing payments, and maintaining vendor relationships. The AP team ensures invoices are paid on time to maintain good supplier relationships while managing cash flow. Modern AP departments use automation tools to streamline invoice processing, reduce errors, capture early payment discounts, and provide financial reporting on spending patterns and vendor performance. ## Key Takeaways - Accounts payable (AP) invoice processing is the accounting function responsible for managing money owed to suppliers. - It involves receiving supplier invoices, verifying their accuracy, obtaining approvals, processing payments, and maintaining vendor relationships. - The AP team ensures invoices are paid on time to maintain good supplier relationships while managing cash flow. ## Related Topics - accounts payable - AP invoice processing - accounts payable processing - AP automation