To be truly effective, every part of your accounts payable system should support your company’s overall success by ensuring vendors and creditors receive correct payment in a timely fashion.
When you develop and implement accounts payable best practices, you’ll find you have fewer time-consuming errors to correct. You’ll also avoid costly fees and penalties, which means your company will have more available working capital—not to mention healthy and rewarding relationships with creditors and vendors alike.
Please see the screenshot below:

And also the video:
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