Accounts payable are accounts within the general ledger that represent a company's obligation to pay off a short-term debt to its creditors or suppliers.
Settings > Accounts payable
It's the tab on Spendesk where you can manage accounts payable, suppliers, rules for expense accounts and banking details of your suppliers. You can also check the balance of your accounts payable at any time.
Access to your accounts payable page
To access your accounts payable page, go to your Settings and then to Accounts Payable. You can also click on this link.
Associate or create accounts payable
Set up your accounts payable during your monthly closing in Bookkeep > Prepare.
When you prepare a payable without an account payable associated, Spendesk is going to ask you to set an account payable (see screenshot).
Your defined rule, 'supplier = account payable' will then be applied for all future payables.
Check and adjust your accounts payables' setup
If you want to check your setup or if you want to make some adjustments of your accounts payables, then you can do this on the new Accounts Payable page.
Main components of the accounts payable page
Accounts Payable table (management, search and creation of suppliers)
Supplier panel (association with accounts payable, Autocat rules for expense accounts, supplier details)
Accounts Payable table
You are now able to follow an accounts payable - driven accounting on Spendesk! On the main accounts payable page you have the overview on all your accounts payable, the corresponding suppliers and the total balance of the accounts payable.
Accounts Payable for card purchases
For card purchases you have the option to set up a generic account payable in Settings>Accounting>Supplier Accounts (or over this link).
By default, all card suppliers will be assigned to the miscellaneous account payable.
Example for generic account payable for card purchases without account payable : Miscellaneous - 401000/DIVERS
You will find this option in Settings>Accounting>Supplier Accounts (or go on this link)
If a specific account payable is defined for card purchases then this account payable is going to be applied (example: 401GOOGLE).
Accounts payable for invoice payments
For invoice payments you also have the option to define an individual accounts payable per supplier. Setting an account payable for suppliers from the invoice module is possible from different locations: when reviewing a new supplier invoice in the Invoices>Review step, when checking the bookkeeping information of a supplier invoice in the Bookkeep>Prepare step, when creating a new supplier or editing an existing supplier from the Settings>Accounts payable page.
Select 1 account for 1 or several suppliers
Generally, you have the option to have one account payable for one supplier, or you can have one account payable for several suppliers.
Supplier panel
The supplier panel (Settings > Accounts payable) gives you the possibility to easily change accounting information, bank details and additional information per supplier.
Accounting information - Autocat for expense accounts
We will ask you in the Prepare tab if you want to set expense account rules for suppliers. If you do, you are now able to check and ad the automatic expense account allocation rules (Autocat feature) in the supplier panel.
This feature is available on our new Scale plan.