Who is MakersHub?

Introducing MakersHub, the leading AP Bookkeeping service for businesses! We understand that managing accounts payable is crucial to your company's success, and our dedicated team is here to streamline your financial management processes, improve vendor relationships, and optimize cost control with a complete AP bookkeeping service.

As your company grows and establishes more business relationships, your accounts payable tasks become increasingly complex.

Our online AP bookkeeping services are designed to simplify and enhance your experience. Let your bookkeeping specialists leverage advanced technology and tools to maximize expenditure value, minimize costs, and ensure accurate supplier relationships. Track your debts and credits with sharp accuracy, allowing you to focus on other important operations and ensuring accurate financial records for your business.

We understand the importance of maintaining strong customer and vendor relationships while managing your financial records. With MakersHub, you can ensure that your total credit balance aligns with your outstanding obligations to vendors.

Our AP bookkeeping software analyzes your existing AP processes and implements new techniques to improve efficiency and accuracy, ultimately enhancing your decision-making process!

What is AP bookkeeping?

Accounts payable bookkeeping refers to the systematic recording, tracking, and management of a company's outstanding debts and obligations to its suppliers, vendors, and creditors. It involves the accurate and timely recording of invoices, purchase orders, and other documentation related to the company's payable transactions. Accounts payable bookkeeping is a vital component of financial management as it ensures that a company's debts are properly recorded, tracked, and settled within the specified payment terms.

While accounts payable bookkeeping falls under the broader umbrella of accounting, it differs in its focus and scope. Regular accounting encompasses various financial activities, such as recording sales, expenses, assets, and liabilities, to provide a comprehensive overview of a company's financial health. In contrast, accounts payable bookkeeping specifically concentrates on the company's obligations to external parties and managing the payment process.

Business owners look to AP bookkeeping solutions for specific accounts payable needs:

Managing your accounts payable with MakersHub solution provides numerous benefits. Our software not only streamlines the AP bookkeeping process but also offers added cybersecurity and anti-fraud benefits, reducing the risk of payment discrepancies. Moreover, by leveraging AP bookkeeping to our professionals, you can make well-informed financial decisions and allocate your budget effectively.

Invoice processing and verification

A crucial aspect of accounts payable bookkeeping is accurately processing and verifying invoices received from suppliers. This involves reviewing the invoices for accuracy, ensuring that the goods or services were received and meeting the agreed-upon terms, and matching them with relevant purchase orders and receiving documentation. The bookkeeper must carefully track and reconcile any discrepancies or issues, resolving them with the supplier or internal departments if necessary. Timely and accurate invoice processing ensures that payments are made correctly, avoids any payment delays or penalties, and maintains strong relationships with suppliers.

Cash flow management

Effective accounts payable bookkeeping plays a significant role in managing a company's cash flow. The bookkeeper must maintain a comprehensive record of outstanding payables, including due dates and payment terms. By accurately tracking payment obligations, the bookkeeper can help the company forecast its cash flow needs and ensure that funds are available to meet payment deadlines. This involves liaising with internal departments to obtain necessary approvals for payments, prioritizing payments based on due dates and cash availability, and coordinating with the finance department to manage cash reserves effectively. A proper cash flow management tool ensures that a company can meet its financial obligations on time, avoid late payment fees or penalties, and maintain positive relationships with suppliers.

In summary, accounts payable bookkeeping focuses on managing a company's debts and obligations to external parties. It involves processing and verifying invoices, ensuring accuracy, and maintaining comprehensive records of outstanding payables. By effectively managing accounts payable, companies can maintain healthy relationships with suppliers, avoid payment delays or penalties, and optimize their cash flow management.

What are the advantages of AP bookkeeping software for business owners?

An AP (Accounts Payable) bookkeeping software can provide several advantages for business owners looking to enhance their accounts payable management. Implementing an AP bookkeeping software can optimize accounts payable management, streamline processes, and contribute to the financial success of a business. Here are the main benefits of utilizing an AP bookkeeping software such as MakersHub:

Streamlined workflow and automation:

An AP bookkeeping software offers streamlined workflow and automation capabilities that significantly improve the efficiency and accuracy of accounts payable processes. With automation, businesses can eliminate manual data entry tasks, reducing the chances of human errors and saving valuable time. The software can automatically capture invoice information, match it with relevant purchase orders and receiving documentation, and generate payment reminders or notifications for due dates. This automation helps streamline the entire accounts payable workflow, from invoice receipt to payment processing, enabling faster turnaround times, improved accuracy, and reduced administrative burden.

Enhanced visibility and reporting:

One of the key advantages of an AP bookkeeping software is its ability to provide business owners with enhanced visibility and reporting on their accounts payable activities. The software centralizes all payable data in one location, making it easier to access and analyze information. Business owners can gain real-time insights into outstanding payables, payment statuses, and vendor performance. Detailed reports and analytics dashboards can provide valuable metrics, such as average payment cycle times, aging analysis, and cash flow projections. This enhanced visibility empowers business owners to make informed decisions, identify areas for process improvement, negotiate favorable terms with suppliers, and effectively manage their cash flow.

Improved vendor relationships and cost control:

An AP bookkeeping software can contribute to strengthening vendor relationships and optimizing cost control for business owners. The software enables efficient communication with vendors, allowing for timely responses to queries and payment inquiries. With accurate and timely payments facilitated by the software, businesses can foster positive relationships with suppliers, negotiate better terms, and potentially access discounts for early payments. Additionally, the software's reporting capabilities can help identify cost-saving opportunities by analyzing payment patterns, identifying discrepancies or errors, and highlighting areas of potential cost reduction. By streamlining processes, optimizing payment cycles, and maintaining healthy vendor relationships, businesses can effectively manage their accounts payable and control costs.

Why choose MakersHub’s AP solution for bookkeepers and accountants?

AP bookkeeping softwares offer business owners advantages such as a streamlined workflow, reduced manual tasks, and enhanced efficiency.

The software provides enhanced visibility and reporting, enabling real-time insights and data-driven decision-making. Furthermore, it helps improve vendor relationships, optimize cost control, and strengthen overall financial management.

Create new vendors, jobs, and items automatically

With MakersHub, the process of creating new vendors, items, and jobs is automated, providing you with a seamless experience: stop manually searching for matches in QuickBooks and struggling to add new entries! MakersHub takes charge and intelligently identifies instances where no match is found, empowering you to swiftly create new vendors, items, and even jobs or customers with just a single click. With its intuitive interface and advanced algorithms, MakersHub ensures that the process is quick, efficient, and error-free.

Seamless integration with QuickBooks

MakersHub offers advanced QuickBooks integration, ensuring seamless and reliable connectivity with QuickBooks Online and Desktop. Our 2-way integration is a core aspect of their product development strategy, prioritizing comprehensive synchronization and useful integration features. With real-time bidirectional synchronization, data transfer between MakersHub and QuickBooks is effortless, maintaining accuracy across platforms. MakersHub goes beyond basic integration, leveraging QuickBooks functionalities to streamline tasks such as vendor information syncing, automating invoicing and payments.

Improve your AP management while you focus on growing your business and achieving your goals. Partner with MakersHub today and experience the benefits of an efficient and reliable AP bookkeeping solution that plays a huge role in your company's financial success.