Skip to content
Finovra AI

Accounts payable

In development

Accounts payable automation with approvals built in

Accounts payable is where small errors turn into real money: a bill paid twice, coded to the wrong account or approved by the person who raised it. Finovra's AP module is in development. It is designed around the ledger controls that already exist, so every bill reaches the books through the same checks and approvals.

Book a demo Accounting automation

The planned bill workflow

  1. Step 1

    Capture

    Upload or forward a bill. Vendor, invoice number, dates, amounts and tax are read from the document.

  2. Step 2

    Code

    Accounts and tax codes are suggested from the vendor's history, with the reason shown.

  3. Step 3

    Check and approve

    Likely duplicates are flagged, then the bill goes to an approver set by amount and entity.

  4. Step 4

    Post and track

    The approved bill posts to accounts payable and appears in AP aging until it is paid.

Ledger controls AP will use

Core engine built

These exist today in the ledger engine and API, and AP entries will pass through them.

  • Second-person approval

    The person who prepared an entry cannot approve it.

  • Locked periods

    Bills dated in a closed month are rejected until the period is reopened with a reason.

  • No silent edits

    A posted bill entry is corrected by reversal, keeping the original on record.

  • Duplicate-safe submission

    Idempotency keys stop the same submission from posting twice.

Planned AP features

In development

  • Duplicate bill checks

    Same vendor, amount and date window flagged before a bill is recorded twice.

  • Approval rules

    Approvers chosen by amount, entity and account, in USD or CAD.

  • AP aging

    What is due by vendor and age bucket, tied to the payables account.

  • Sales tax on bills

    US sales tax, and GST/HST input tax credits for Canadian entities, tracked per line. To be reviewed by tax professionals before release.

  • Contractor reporting

    Vendor flags for US Form 1099 and Canadian information-return reporting. Scope to be confirmed with accountants.

  • Payments

    Recording payments against bills. Sending money is not planned until it can be done with strict controls.

Questions

Can we use Finovra for AP today?
Not yet. The ledger and approval controls are built; bill capture, AP aging and the AP screens are in development.
Will Finovra pay vendors?
Payment execution is not on the near-term roadmap. The first release records payments made through your bank.
Will it connect to bill-pay tools?
Integrations with spend and bill-pay tools are planned. Their status is listed on the integrations page.

Related

Show us your AP process

We'll compare your bill flow with Finovra's planned workflow and the controls available today.

Last reviewed against the product on .

Book a demo