starting from vendor bills through to bank statements. Payments that make sense to everyone.
Authorization flows
Pay with confidence. Add one or multiple people to your authorization flow. Trigger authorizers by dollar threshold, vendor, and much more.
Status visibility
Always know exactly where each payment stands. Real-time payment status tracking and updates for you and your vendors.
Accounting context
Discover payments that match your bank statement. Easily decipher lumped sums - see the invoice number each payment is for.
Bills paid exactly when you want them to be
MakersHub lets you schedule payments ahead of time, based on the due date and net terms we capture from the bill. Schedule and authorize payments, then let us take care of the rest.
Pay confidently with authorization approval
Design flexible rules-driven authorization flows with MakersHub Pay. Trigger one or multiple approvers based on data captured from your incoming bills. Set dollar thresholds, vendor-based rules, and much more.
Real-time status visibility for everyone
Keep your team and your vendors informed, effortlessly. View the status and see exactly when each payment cleared. Vendors receive useful notifications linking incoming payments to their specific invoice numbers.
Reconcile payments to bank statements with ease
MakersHub creates payments that match your bank statement records. You’re in control; separate, bundle, or partially pay bills. We’ll auto-create the accounting records and matching payments for you.
Making AP easier every step of the way
Making sense of bill data
By capturing detailed data from incoming bills, MakersHub helps code costs to the right place, trigger the correct approvers, and auto-create accurate bill records.
Flexible payments & records
Flexible payments mean you can apply credits, make a partial payment, or easily account for net terms discounts. The payment record will reflect all these details accurately in QuickBooks.
Centralized collaboration hub
Add notes or documents, and ensure the right people have reviewed all bills or payments. Collaborate with full context to streamline approvals & authorizations.
A payments experience that enhances vendor relationships
Vendors select their payment method
No vendor sign-up or account creation required with MakersHub Pay
Allow vendors to choose their preferred payment method (ACH, Check, or wire)
Payments go out the next day
Payment records that make sense
Notifications that provide context to vendors
Real-time status updates available
Bank statement details match the invoice being paid
Makershub Pay Features
6 features
Scheduled Payments
Automatically schedule payments ahead of time based on due dates or net terms.
Authorize Payments
Pay with confidence; require authorization for each payment.
Fast Clearing Payments
All payments processed the next day. No delays with MakersHub Pay.
Accounting Records
MakersHub auto-creates payment records in QuickBooks that match your bank statement.
Contextual Notifications
Real-time payment status updates for you and your vendor. Links to the original bill.
Bank Statement Details
Easily reconcile bank statements. Details include payment amount & invoice # for payor and payee.
What is payment automation?
Payment automation is a system of managing payments and payment processing online, allowing businesses to automate their accounts payable processes. It eliminates the need for manual entry of information and helps streamline inbound and outbound payments. The automated payment processing system offered by Maker’s Hub facilitates transactions between customers and vendors, while also offering easy Quickbooks online integration. Payment automation softwares are quickly becoming an essential tool for businesses who want to streamline their payment processes. With these tools, businesses can easily set up automated payments that take care of themselves in the background while they focus on other tasks. Plus, they offer features such as secure data storage and customizable reports that allow you to get the most out of your payments.
Why should a business work with a reliable payment automation tool?
The primary benefit of payment automation is that it reduces the time needed to process invoices and account payables by eliminating manual data entry. This frees up resources that can be used to focus on other core business activities. Additionally, it ensures accuracy in all financial transactions, reducing the possibility of mistakes that could lead to costly errors. Payment automation is an important tool for businesses looking to improve their efficiency when dealing with payments, reduce costs associated with manual entry or errors, and ensure secure transactions between customers and vendors. With its many features and benefits, it's easy to see why so many companies have adopted this technology as part of their operations.
Are there different types of payment automation tools?
Payment automation tools are increasingly becoming an integral part of businesses, as they simplify and streamline payment processes. There are a variety of different types of AP automation tools available, each offering their own unique features that can be tailored to the needs of any business.
Credit card processing systems
One type of payment automation tool is a credit card processing system. This type of tool allows for easy acceptance of payments through various forms including point-of-sale terminals, mobile apps, and Google Pay. It also typically includes invoice capture and payment approval technology, which further simplifies the process. However, this is not what Maker’s Hub offers businesses
Accounts payable automation software
Another popular type is payable software. This type of automation tool provides automated payments and payment reconciliation capabilities which allow businesses to easily manage their accounts receivable processes. This type of software also provides robust reporting capabilities so businesses can easily monitor their financial performance over time. This is the value offered to businesses by Maker’s Hub AP automation software for payments.
Improve efficiencies while reducing time spent on tedious tasks such as data entry and tracking payments with the right payment automation software.
What are the main benefits of automated payment solutions?
Payable automation software has become increasingly popular due to its ability to streamline processes and reduce costs significantly. Organizations are also able to save time by eliminating manual data entry and paper processes associated with traditional methods of managing payments. Not only do they improve cash flow, but they also help businesses reduce cost, maximize efficiency, and maintain compliance. This makes automated payment solutions an ideal choice for any business looking to stay ahead of the competition.
Streamline invoicing and payment processing
Automated payment processing software provides businesses with several advantages that can help streamline their payable processes. Automated payment technology handles multiple payment methods, from point of sale transactions to online payments and recurring payments. This helps reduce manual data entry errors and the risk of duplicate payments. Automated payment processing solutions also reduce processing costs, allowing businesses to save time and money on their payable processes.
Avoid mistakes and duplicate payments caused by human error
Automated payment services eliminate the risk of late payments by providing customers with efficient and secure options for paying invoices. These services provide a convenient way for customers to make payments quickly and easily, reducing the amount of time spent chasing down late payments. Businesses can also use automated payment services to better manage their accounts receivable processes, ensuring that all invoices are paid on time.
Seamless integration to popular accounting softwares
One of the most popular payment automation software solutions is Intuit QuickBooks, a cloud-based system that helps organizations manage their financial operations. With this tool, businesses can quickly and easily process payments with electronic payments or AP automation. Additionally, businesses can benefit from payment discounts offered by vendors when using Intuit QuickBooks for their payments.
More advantages of automated invoicing processing
Increased efficiency: Automation reduces manual tasks like data entry and tracking payments, freeing up valuable time for other activities. Improved accuracy: Automated software eliminates human error, reducing the risk of incorrect or late payments. Enhanced security: Payment automation helps protect sensitive information by providing additional layers of security against fraud or hacking attempts. With these features in place, businesses can take advantage of automated payment platforms to increase efficiency while reducing errors and monetizing costs.
Improved customer experience while keeping business finances running smoothly with Maker’s Hub’s payment automation solution
What are accounts payable (AP) and how does it relate to payment automation?
Understanding how accounts payable and payment automation the two interact helps businesses make informed financial decisions. 1. Accounts payable, simply put, are the payments a business owes to its suppliers for goods or services delivered. To keep track of accounts payable, businesses use an accounting system to record each transaction and store the data in an accounts payable ledger. This ledger is used to track the amount owed to each vendor, the date the bill was due, and the date the payment was made. Companies also monitor their accounts payable to ensure they are making payments in a timely manner. 2. Payment automation, on the other hand, is an automated process that streamlines accounts payable processing by automating manual tasks associated with managing payments. It can also help reduce the risk of errors, since it automates the process of verifying and validating payment information, helps businesses streamline their payment processes and keep track of them in one centralized system.
Payment automation keeps your accounts payable in check!
Payment automation software allows businesses to set up rules that automatically transfer funds from a company’s bank account to its vendors. The rules can be tailored as necessary and they effectively automate accounts payable processes such as invoicing, reconciliation, and payments. By using automation tools to manage payments, companies can reduce costs associated with manual processes and improve their accuracy by eliminating manual errors. In addition to improving accuracy and reducing costs, payment automation also increases visibility into cash flow and reduces time spent on manual processes. This improved visibility allows companies to better understand their current cash position and make informed decisions about future expenditures. Furthermore, it can be used to track spending trends over time so businesses can optimize their budgeting decisions accordingly.
Does Maker's Hub payment automation tool allow your AP team to scale?
Using automation software to help scale your Accounts Payable (AP) team can help save time, money, and resources. Automation diminishes tedious manual processes―such as entering data, tracking documents, following up with vendors and reconciling accounts―which frees up more manpower to make meaningful decisions or handle other projects. Additionally, automated AP systems are much more accurate than manual processes because they eliminate any costly typos or human errors.
Leverage the advantages of a complete AP automation system with Maker’s Hub
When invoices are processed through an automated system, companies are able to pay promptly and avoid those late fees associated with traditional payment methods. This helps foster stronger relationships with suppliers as well as maintain partnerships. Moreover, fewer disputes arise since the visibility of enhanced cost management is clear-cut and transparent with automation. AP teams that integrate automation systems are also less likely to become victims of fraud or other malicious activity due to the extra safeguards in place for accuracy and security.
Automation is a powerful tool that can help SMBs quickly scale their AP process without increasing staffing needs.
What is the cost of an automated payment processing software?
When it comes to accounts payable automation, understanding the cost of the software is a key factor in making any purchasing decision. In addition to upfront costs, there are also ongoing maintenance costs and additional training costs that need to be taken into account. The cost of Maker’s Hub AP automation software will vary depending on the features you require and any other customizations you may need. There could be integration costs associated with connecting your existing Quickbooks platform to the new software. It's also worth noting that while our AP automation solution includes expenses upfront, it can ultimately save businesses money in the long run due to increased efficiency and reduced errors.
Schedule a meeting with our team about payment processing automation!
The ultimate payment record flexibility
MakersHub Pay puts you in the driver's seat. We’ll execute payments exactly how you want them, and auto-create the records in QuickBooks to match.
Bundle or separate
For multiple bills from the same vendor: bundle to create one payment, or pay individually - we’ll create the payment records to match in QuickBooks.
Partial payments
Create a partial payment for a bill while keeping track of the remainder to be paid. The vendor’s payment updates clarify what each payment is for.
Allocate credits
Create a credit record and allocate credits to a bill’s payment. MakersHub tracks everything and auto-creates the records in QuickBooks.
Mark as paid
Already paid the bill elsewhere? Use MakersHub to mark the bill as paid, and auto-create a paid payment record in QuickBooks.
