18 Best Accounts Payable Software for Small Business Reviewed in 2024
Best Accounts Payable Software for Small Business Shortlist
Here’s my shortlist of the best accounts payable software for small business:
Our one-on-one guidance will help you find the perfect fit.
Accounts payable software is a valuable asset for any small business. With the right software, teams can improve payment accuracy and reduce manual data entry. But finding the right accounts payable software for small businesses can be a challenge, especially with so many options available.
Using my experience with business management software, I tested and compared several of the top accounts payable software for small businesses available. From there, I compiled my results into in-depth reviews to help you find the best software for your unique needs. I’m confident that you’ll discover your next accounts payable software for small businesses in the list below.
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Best Accounts Payable Software for Small Business Summary
| Tools | Price | |
|---|---|---|
| Payouts | Pricing upon request | Website |
| Nanonets | From $499/month for up to 5,000 pages (or invoices) | Website |
| Klippa Invoice Processing | From $98/month | Website |
| Stampli | From $200/month | Website |
| MineralTree | From $1/invoice | Website |
| BILL | From $29/user/month | Website |
| AvidXchange | From $55/user/month | Website |
| Coupa | From $11/user/month | Website |
| Rillion AP Automation | Pricing upon request | Website |
| Ricoh | From $99/user/month | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow to Choose Accounts Payable Software for Small Businesses
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
| Scalability | Will the software grow with your business needs? |
| Integrations | Does it connect with your existing systems and tools? |
| Customizability | Can you tailor it to fit your team's workflow? |
| Ease of Use | Will your team find the software easy to learn and use? |
| Budget | Does it fit within your financial constraints? |
| Security Safeguards | Does it offer adequate protection for sensitive data? |
| Customer Support | Will you get the help you need when issues arise? |
| Compliance | Does it meet the legal requirements for your industry? |
Use this checklist to keep your software selection process organized and focused.
Best Accounts Payable Software for Small Businesses Reviews
Below are my detailed summaries of the best accounts payable software for small businesses that made it onto my shortlist. My reviews offer a detailed look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Payouts is a versatile accounts payable automation tool tailored to enhance financial operations for businesses and platforms in the creator economy, influencer marketing, and digital advertising industries.
Why I picked Payouts: I like its vendor portal, which redefines vendor management by providing advanced analytics. This portal allows your vendors to access and manage their information directly, reducing back-and-forth communication and potential errors. The platform also offers robust invoicing and payout automation capabilities, which are critical for businesses handling high transaction volumes across multiple vendors. These features ensure accurate and timely payments, fostering trust and reliability with your partners.
Standout features & integrations:
Features include global accounts that streamline transactions by providing access to local currencies, virtual cards for efficient global expense management, and support for various eWallets to facilitate seamless global commerce. These features enable your business to operate smoothly across different regions, manage expenses effectively, and offer flexible payment options to your vendors.
Integrations include Everflow, CJ Affiliate, Awin, PayPal, Venmo, Payoneer, NetSuite, Priority, Workday, Skrill, and Tune.
Pros and cons
Pros:
- Supports scaling operations
- Comprehensive automation of accounts payable processes
- Multiple payout methods
Cons:
- Potential challenges integrating with existing systems
- May require time to fully customize
Nanonets is an AI-based document processing platform designed to help businesses automate tedious tasks. It offers solutions for automating workflows, extracting data from documents, and managing repetitive processes like accounts payable.
Why I picked Nanonets: For small businesses, Nanonets is a solid choice for accounts payable automation. Its features are built to simplify invoice processing by automatically extracting invoice details and validating them against your records. You can set custom approval workflows to ensure that payments are accurate and on time, helping your team avoid human errors or missed payments. Nanonets also offers real-time tracking for every invoice, giving your team visibility into payment statuses without needing to manually follow up.
Standout features & integrations:
Features include optical character recognition (OCR), which can read printed or handwritten text from documents. You can also customize the data fields to capture specific information unique to your business. Another useful feature is the fraud detection system, which flags potential discrepancies.
Integrations include QuickBooks, Salesforce, Xero, Sage, NetSuite, Yardi, Google Drive, SharePoint, Notion, Gmail, Airtable, Dropbox, Microsoft D365, Google Sheets, and Zapier.
Pros and cons
Pros:
- Accurate data extraction from invoices
- Customizable approval workflows
- Real-time tracking of invoices
Cons:
- Occasional processing delays for large documents
- Initial setup can take time
Klippa Invoice Processing is an AI-driven solution designed to automate your accounts payable tasks. It uses optical character recognition (OCR) to extract data from invoices, reducing manual entry and minimizing errors.
Why I picked Klippa Invoice Processing: It offers the ability to extract data from invoices in various formats, including PDF, JPG, and PNG. This flexibility ensures you can process invoices regardless of how they're received. Additionally, Klippa offers customizable approval workflows, allowing you to set up authorization flows that match your company's policies. This feature helps maintain control over expenditures and ensures compliance with internal procedures. It also has fraud detection capabilities. The system automatically checks for duplicate invoices and unusual patterns, helping you identify potential fraudulent activities.
Standout features & integrations:
Features include automatic currency conversion based on daily rates or custom settings, which simplifies handling international invoices. The platform also offers bulk invoice processing, enabling you to process multiple invoices simultaneously, saving time and effort. Additionally, Klippa provides cloud storage for invoices and audit trails.
Integrations include AFAS Software, SAP, Exact Online, Odoo, Twinfield, Oracle Netsuite, Xero, Okta, QuickBooks, and Microsoft Entra ID.
Pros and cons
Pros:
- Fraud detection through duplicate claim identification
- Customizable approval workflows
- OCR technology reduces manual data entry
Cons:
- Most integrations are add-ons
- Initial setup may require time
Stampli is an invoice management platform designed to simplify the way businesses handle and approve invoices. It helps finance teams centralize their invoice processes and streamline communication between departments, ensuring smoother approvals and faster payments.
Why I picked Stampli: Stampli is designed with collaboration in mind, making it easy for your team to communicate directly on invoices within the platform. Its collaboration hub allows users to add comments, ask questions, and track invoice histories, reducing back-and-forth emails. Stampli also offers customizable approval workflows, letting you tailor the process to fit your team’s specific needs. With real-time visibility into invoice statuses, your team can stay on top of pending approvals and ensure nothing slips through the cracks.
Standout features & integrations:
Features include a collaboration hub for invoice discussions, real-time visibility into approval statuses, and customizable workflows to fit your team's processes. Your team can add comments directly on invoices, reducing email threads and confusion. Stampli also provides detailed invoice histories to ensure everyone is aligned on payment progress.
Integrations include NetSuite, QuickBooks, Sage Intacct, Microsoft Dynamics, SAP, Oracle, Xero, Acumatica, Blackbaud, and Sage.
Pros and cons
Pros:
- Real-time visibility into payments
- Easy tracking of invoice history
- Strong focus on invoice collaboration
Cons:
- Limited customization for reporting
- Long onboarding process for teams
MineralTree is an automation platform focused on streamlining the invoice-to-payment process for businesses. It helps finance teams automate accounts payable tasks, ensuring more efficient and secure payment processing.
Why I picked MineralTree: MineralTree is built around secure payment processing, offering features like two-factor authentication and approval workflows that help reduce fraud risks. With MineralTree, your team can automate invoice capture and route payments for approval, all within a secure framework. The platform also offers an easy-to-use dashboard where you can track all payments in real-time. For businesses prioritizing payment security, this software ensures that all workflows are protected by built-in safeguards, giving you peace of mind when handling sensitive transactions.
Standout features & integrations:
Features include automated invoice capture, approval workflows, and secure payment processing. Your team can track all transactions in real-time, making it easier to manage cash flow. MineralTree also includes fraud prevention features like two-factor authentication and role-based access controls.
Integrations include QuickBooks, NetSuite, Sage Intacct, Microsoft Dynamics, Xero, Oracle, Acumatica, SAP, Blackbaud, and Infor.
Pros and cons
Pros:
- Easy invoice automation
- Customizable approval workflows
- Strong fraud prevention features
Cons:
- Steep learning curve for new users
- Long onboarding process
BILL is a cloud-based AP automation software that helps businesses automate and simplify their bill payment processes. It’s designed for teams that need a more efficient way to handle payments, invoices, and approval workflows.
Why I picked BILL: BILL offers features that are focused on automating approval processes for invoices, payments, and other bookkeeping tasks. With its customizable workflows, your team can set up automated approvals based on specific rules, reducing manual intervention. It also provides a central dashboard where you can track payments, manage vendor invoices, and approve bills with ease. Overall, this tool helps businesses increase accuracy and save time by automating repetitive tasks while still maintaining full control over financial decisions.
Standout features & integrations:
Features include automated approval workflows, real-time bill tracking, and customizable payment options. Your team can set up rules to automate the approval process for invoices and payments. BILL also offers an intuitive dashboard to monitor the status of bills and payments in one place.
Integrations include QuickBooks, Xero, NetSuite, Sage Intacct, Oracle, Microsoft Dynamics, SAP, Expensify, Gusto, and Salesforce.
Pros and cons
Pros:
- Secure payment processing features
- Simplifies multi-location payment handling
- Real-time tracking for payments
Cons:
- Limited customization for reporting
- Steep learning curve for new users
AvidXchange is a payment automation software designed for businesses that want to replace manual payment processes with automated workflows. It helps finance teams manage invoices and payments more efficiently, reducing paper-based tasks and manual intervention.
Why I picked AvidXchange: AvidXchange focuses on automating the entire payment process, from invoice receipt to payment completion. With this software, your team can benefit from features like automated invoice approvals, electronic payment processing, and customizable workflows tailored to your business needs. You’ll also get real-time visibility into payment statuses, making it easier to track and manage cash flow.
Standout features & integrations:
Features include automated invoice capture, electronic payments, and customizable approval workflows. Your team can easily manage vendor payments through one centralized platform. AvidXchange also offers real-time tracking of payment statuses, giving you more control over cash flow.
Integrations include QuickBooks, NetSuite, Sage Intacct, Acumatica, MRI Software, SAP, Oracle, Microsoft Dynamics, Infor, Yardi, and Blackbaud.
Pros and cons
Pros:
- Strong vendor payment network
- Customizable approval workflows
- Scales well with growing businesses
Cons:
- Requires technical knowledge for setup
- Long implementation time
Coupa is a cloud-based accounting system that helps businesses manage their procurement, invoicing, and expense management processes. It’s designed for organizations that need to handle purchasing and accounts payable functions in one place, streamlining how they control and manage spend across their operations.
Why I picked Coupa: Coupa integrates procurement and accounts payable functions into a single platform, offering your team complete visibility into both processes. It allows you to manage purchasing approvals, track expenses, and automate invoice processing all within one system. The platform’s spend analysis feature helps businesses monitor and optimize their spending, providing real-time insights into procurement activities. Additionally, Coupa’s automated workflows make it easier to control costs and ensure compliance with internal purchasing policies.
Standout features & integrations:
Features include spend management, automated invoicing, and real-time spend analysis. Your team can manage procurement and accounts payable within a unified platform, streamlining purchasing approvals and payment processes. Coupa also offers compliance features to help ensure all transactions follow internal policies.
Integrations include NetSuite, SAP, Oracle, Microsoft Dynamics, Workday, QuickBooks, Salesforce, Xero, and Sage Intacct.
Pros and cons
Pros:
- Streamlines procurement and AP processes
- Offers real-time visibility into spend
- Strong spend analysis tools
Cons:
- Limited reporting customization
- Complex implementation process
Rillion is an automation solution designed to simplify accounts payable processes for growing businesses. It helps organizations manage their invoices, approvals, and payments efficiently, making it ideal for businesses that need a scalable solution as they expand. The platform is designed to handle increasing transaction volumes without adding complexity.
Why I picked Rillion: Rillion offers features that are perfect for businesses looking to scale their accounts payable operations. Your team can automate the invoice approval process, reducing manual intervention and ensuring quicker payment cycles. With real-time visibility into your financial data, Rillion helps you stay on top of cash flow as your business grows. Its flexibility allows you to adjust workflows and approval processes as your company expands, giving you more control without added workload.
Standout features & integrations:
Features include automated invoice capture, approval workflows, and real-time visibility into payment status. Your team can reduce manual processes by automating the approval and payment of invoices, improving efficiency. Rillion also allows for customizable workflows to match your business needs as they evolve.
Integrations include NetSuite, SAP, Microsoft Dynamics, QuickBooks, Xero, Sage, Oracle, Acumatica, Workday, and Infor.
Pros and cons
Pros:
- Real-time payment status tracking
- Reduces manual invoice handling
- Customizable to fit team needs
Cons:
- Limited reporting flexibility
- Long implementation process for teams
Ricoh is an advanced solution that helps businesses streamline their document management and payment processes. It’s designed for teams that need to manage large volumes of documents while maintaining efficiency in payment workflows.
Why I picked Ricoh: Ricoh integrates document management directly into accounts payable workflows, making it easier for your team to digitize, store, and retrieve invoices. Its scanning and indexing features allow you to manage both paper and digital documents seamlessly, reducing the risk of lost or misplaced invoices. With automated routing and approvals, you can ensure that all documents are processed on time and follow proper procedures. Additionally, the platform's focus on integrating document management with payment workflows helps businesses maintain better control over their accounts payable processes.
Standout features & integrations:
Features include document scanning, indexing, and automated approval routing. Your team can easily convert paper documents into digital formats, making retrieval and storage more efficient. Ricoh also offers features to manage both physical and digital invoices within a single platform.
Integrations include Microsoft Dynamics, SAP, Oracle, QuickBooks, Sage, Xero, NetSuite, Acumatica, Salesforce, and Workday.
Pros and cons
Pros:
- Reduces paper dependency in workflows
- Strong focus on compliance management
- Customizable document indexing features
Cons:
- Requires significant technical setup knowledge
- Long implementation time for teams
Other Accounts Payable Software for Small Businesses
Here are some additional accounts payable software options that didn’t make it onto my shortlist, but are still worth checking out:
Accounts Payable Software for Small Businesses Selection Criteria
When selecting the best accounts payable software for small businesses to include in this list, I considered common buyer needs and pain points like automating manual processes and reducing human errors. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total weighting score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Automating invoice processing
- Managing vendor payments
- Providing payment approvals
- Offering real-time payment tracking
- Generating financial reports
Additional Standout Features (25% of total weighting score)
To help further narrow down the competition, I also looked for unique features, such as:
- Fraud detection and prevention
- Multi-currency payment capabilities
- Compliance with global regulations
- Dynamic discounting for early payments
- Integration with procurement systems
Usability (10% of total weighting score)
To get a sense of the usability of each system, I considered the following:
- User-friendly interface design
- Minimal clicks to perform tasks
- Clear navigation menus
- Quick load times
- Accessible for non-technical users
Onboarding (10% of total weighting score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of onboarding tutorials
- Access to setup templates
- Interactive product tours
- Webinars and training sessions
- Chatbots for real-time assistance
Customer Support (10% of total weighting score)
To assess each software provider’s customer support services, I considered the following:
- Availability of 24/7 support
- Multichannel support options (email, chat, phone)
- Response time to inquiries
- Quality of self-service resources
- Availability of dedicated account managers
Value For Money (10% of total weighting score)
To evaluate the value for money of each platform, I considered the following:
- Features provided for the price
- Scalability options within pricing plans
- Hidden fees or transaction costs
- Availability of free trials or demos
- Competitiveness against industry standards
Customer Reviews (10% of total weighting score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- General satisfaction with the platform
- Consistency of updates and new features
- Complaints about bugs or glitches
- Praise for ease of use
- Feedback on customer support responsiveness
Trends In Accounts Payable Software for Small Businesses
In my research, I sourced countless product updates, press releases, and release logs from different accounts payable software vendors. Here are some of the emerging trends I’m keeping an eye on:
- Artificial Intelligence for Fraud Detection: Many vendors are incorporating AI tools to automatically detect suspicious transactions, reducing the risk of fraud for businesses. This adds an extra layer of security to payment methods and processes.
- Touchless Invoice Processing: Fully automated invoice approval systems are gaining traction, where invoices are processed and approved without manual intervention. This trend helps companies save time and minimize errors.
- Enhanced Data Analytics and Reporting: There's a growing demand for more advanced reporting features, giving businesses deeper insights into their financial data. Some platforms are offering real-time dashboards with customizable metrics.
- Blockchain for Payment Transparency: Some platforms are experimenting with blockchain technology to provide more transparent and secure payment tracking. This allows businesses to track transactions in real-time with added security.
- Sustainability-Focused Features: With more businesses prioritizing sustainability, some accounts payable software solutions now offer features to track and reduce paper usage by digitizing invoices and payment processes, contributing to greener business practices.
What Is Accounts Payable Software for Small Businesses?
Accounts payable software for small businesses is a tool that helps companies manage their vendor invoices, payments, and financial records. Typically, finance teams, accountants, and small business owners use these tools to stay organized and ensure payments are processed on time.
Invoice processing, payment tracking, and approval workflows help with reducing manual tasks, improving accuracy, and providing real-time insights. Overall, these tools make managing finances easier and more efficient for small businesses.
Features of Accounts Payable Software for Small Businesses
When selecting accounts payable software for small businesses, keep an eye out for the following key features:
- Automated Invoice Capture: Automatically pulls invoice data, reducing manual data entry errors and saving time.
- Approval Workflows: Helps set up custom approval processes to ensure invoices get reviewed by the right people before payment.
- Real-Time Payment Tracking: Allows users to monitor the status of payments, accounts receivables, and invoices, improving cash flow management.
- Duplicate Invoice Detection: Flags duplicate invoices, preventing overpayments and reducing financial risk.
- Multi-Currency Support: Enables businesses to handle transactions in various currencies, useful for companies working with international vendors.
- Customizable Reporting: Provides tailored reports, helping businesses analyze their financial performance and make informed decisions.
- Audit Trail: Tracks all activities and changes in the system for compliance and accountability purposes.
- Recurring Payments: Automates payments for regular invoices, saving time and ensuring no bills are missed.
- Fraud Detection: Uses algorithms to detect suspicious activities and prevent fraudulent transactions.
- Vendor Management: Stores and organizes vendor details, making it easy to track payment histories and manage relationships.
Benefits of Accounts Payable Software for Small Businesses
Implementing accounts payable software for small businesses provides several benefits for your team and your business. Here are a few you can look forward to:
- Faster Invoice Processing: Automates data entry and approvals, cutting down the time spent on manual tasks.
- Improved Payment Accuracy: Reduces the chances of errors with features like duplicate invoice detection and automated checks.
- Better Cash Flow Management: Real-time payment tracking helps you stay on top of outgoing payments and manage your cash flow effectively.
- Enhanced Security: Fraud detection tools protect your business from suspicious activities and unauthorized payments.
- Increased Transparency: Audit trails and detailed reporting provide a clear record of all transactions for easier tracking and compliance.
- Time Savings: Recurring payments and automation free up your team's time to focus on more important tasks.
- Stronger Vendor Relationships: Timely payments and easy access to vendor details help you maintain positive relationships with your suppliers.
Costs & Pricing of Accounts Payable Software for Small Businesses
Selecting accounts payable software for small businesses requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in accounts payable software for small businesses solutions:
Plan Comparison Table for Accounts Payable Software for Small Businesses
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic invoice processing, limited payments, and basic reporting. |
| Personal Plan | $5-$25/user/month | Automated invoicing, payment tracking, and simple approval workflows. |
| Business Plan | $30-$75/user/month | Advanced reporting, multi-currency support, and customizable workflows. |
| Enterprise Plan | $100+/user/month | Unlimited invoices, detailed analytics, fraud detection, and priority support. |
Accounts Payable Software for Small Businesses FAQs
Here are some answers to common questions about accounts payable software for small businesses:
How does accounts payable software integrate with my existing systems?
Most accounts payable software integrates with your current accounting tools, ERP systems, or payroll services through APIs or direct connections. This ensures that your financial data is synced across platforms, reducing manual data entry and improving accuracy. Make sure to check compatibility with your systems before selecting a solution.
Can I automate approval workflows in accounts payable software?
Yes, many accounts payable solutions allow you to set up automated approval workflows. You can customize these workflows to ensure that invoices go through the right channels and are approved by the appropriate people. This feature saves time and helps prevent bottlenecks in your payment process.
How secure is accounts payable software?
Accounts payable software typically includes security features like encryption, two-factor authentication, and fraud detection. These measures help protect your business’s financial data and prevent unauthorized access. Make sure the software you choose complies with industry security standards.
Can I use accounts payable software to manage international payments?
Many accounts payable solutions support multi-currency transactions and can handle international payments. This is especially helpful for businesses working with global vendors. You can automate payments in different currencies, and the software will calculate exchange rates and fees for you.
How long does it take to implement accounts payable software?
The implementation time varies depending on the complexity of the software and your current systems. For small businesses with simpler setups, the process can take just a few days. More complex setups may take a few weeks, especially if you need custom integrations or advanced configurations. Most vendors offer support to make the transition smoother.
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