oboloo Glossary

Accounts Payable Deposit

oboloo Glossary

Accounts Payable Deposit

Accounts Payable Deposits are financial transactions that involve both sides of a payment process—the company receiving the money and the company paying it. It is the part of the business that is responsible for making sure suppliers or vendors receive their payments on time. With Accounts Payable Deposits, companies can schedule incoming payments from customers and make sure vendors get paid on time. Companies also have the ability to view their open invoices and create payment schedules to ensure cash flow remains steady, reducing delays in payment and eliminating the hassle of manual recording. By automating Accounts Payable processes, businesses can gain more control and visibility over their cash flow while increasing accuracy and efficiency.