Overview

Finmo’s accounts payable enables a centralized view of all your payables. The dashboard comes with an intuitive interface, which can be used to create, schedule, and track payables, all in one place. These payables can be tracked individually by currency, as well as in a consolidated view across all currencies. You can view all your payables in a fixed display currency. You can select the currency of your choice to view payable information of that particular currency.

Key Features

Create and Manage Payables

Accounts Payable lets you effortlessly create and manage payables. All key details—such as status, creation time, and amount—are displayed in a single, customizable table, making payable management seamless and efficient.

Single & Recurring Payables

Two options to create payables: either single or recurring payables. Recurring payables automatically create a series of payables, with payments due on specified dates. Customize the frequency, such as weekly, monthly, or according to your preferred interval.

Instant & Scheduling Payouts

Once a payable is generated, an option to choose either to initiate an instant payout or schedule the payout for a future date is available. An instant payout creates the payable and processes the associated payout immediately on the same day. Alternatively, by scheduling the payout, the payable is created on the current date while the actual payout is processed on the selected future date.
Payouts involving a foreign exchange (FX) conversion, two options are available: "Convert Now" or "Convert Later." Choosing "Convert Now" will execute the FX conversion immediately at the current exchange rate, with the converted funds being paid out on the scheduled date. On the other hand, selecting "Convert Later" will defer both the FX conversion and the payout to the scheduled date, with the conversion occurring at the rate available at that time.

Payment Flexibility

While creating a payout associated with a payable, you get the flexibility to pay in full or partially.

Enhanced Security with Maker-Checker

A dual-approval system where the maker creates a payable and the checker approves the payout associated with the payable. This process adds another layer of security, ensuring accuracy and compliance.

Make a copy

Make a quick copy of their existing payables, eliminating the need to re-enter repetitive details. This time-saving feature helps to streamline the payable process, increasing efficiency and enabling them to focus on other operational tasks.

Create an AP Invoice

Dashboard

Manage, track, and analyze your payables with Finmo’s dashboard..

Payables Summary

• Total Outstanding: Consolidated view of all unpaid payables
• Overdue: Payables that have passed their due date and remain unpaid
• Pending: Payables that are awaiting processing or approval.
• Currency Toggle: Easily switch between currencies to view payables in their original denominations.
• Display currency: View all payables in a single currency to enable easier comparison and informed decision-making.

Table Summary

• Table summary: Access a comprehensive snapshot of all your payables in a single view, including key details such as payable number, due date, status, amount, beneficiary name, and more.
• Filters: Apply intuitive filters to narrow down results based on your criteria, with the added option to export the filtered view for further analysis or reporting.
  Payable status: