The Payables module allows your vendors to email invoices to an assigned email address where they will be automatically populated in your Payables inbox. From there you can create a payable record, require approvals from other parties, and schedule payments to go out through our payables partner, Payabli. In the future, you will have the option to use other payment methods in conjunction with the Payables module, however, at this time, use of Payables requires the use of Payabli, a managed payables service which establishes contact with your vendors and facilitates your payments to those vendors, either through virtual credit card, ACH, or paper check.
When sending payments through Payabli, that vendor will be contacted by Payabli to confirm with them the payment method that they would prefer and if that method is ACH, then Payabli has that vendor complete an ACH form with their bank information! After the initial set-up Payabli will continue using that payment method for subsequent payments.
The other possibilities are a virtual credit card or a paper check. Paper check will be the default if the vendor is unresponsive to Payabli's attempts at contact, however, there is a number that the vendor can call to establish the payment method at their convenience.
If the vendor requests to receive a virtual credit card or ACH, the expected processing time after the scheduled payment date is 3-4 days. If a paper check is selected by the vendor or as the default, you can expect standard mailing times to be added on to that processing time! Therefore, the first time you pay a particular vendor with the Payables module we suggest giving that payment a healthy amount of time before the due date to make sure your vendor has time to get set up with Payabli!
For more specific tutorials regarding payables please check out some of the help articles below!