In plain words
Every bill the business has not paid yet sits in accounts payable. The work is a chain: get the bill, check it against what was ordered, code it to the right account, get it approved, pay it on the due date and record the payment.
Paying late costs fees and goodwill. Paying early costs cash you could have kept a few more weeks. Good AP pays on the due date, every time.
Example
A lumber bill, start to finish
Bill arrives by emailOct 3
Entered and coded to job materialsOct 3
Approved by the ownerOct 6
Paid, 30-day termsNov 2
In our model
agents
Agents read bills from the inbox, enter them and code them. Nothing pays out until your person approves it.
Agents read bills from the inbox, enter them and code them. Nothing pays out until your person approves it.