Accounts Payable Overview

GoldFinch Accounts Payable helps organizations manage vendor invoices, credits, approvals, payments, and outstanding obligations directly within Salesforce.

Vendor information, purchasing activity, supporting documents, payment records, and General Ledger entries remain connected, giving authorized users greater visibility across the procure-to-pay process.

Key Capabilities

Vendor Invoice Management

Organizations can create and manage vendor invoices for inventory purchases, services, operating expenses, fixed assets, and other obligations.

Depending on the business process, vendor invoices may be:

• Entered individually
• Created from purchasing and receiving activity
• Imported from an approved data source
• Prepared through AI-assisted document processing
• Generated from recurring invoice templates

Each invoice maintains the information needed for review, approval, payment, and financial reporting.

Invoice Review and Approval

Vendor invoices can be routed through configured Salesforce approval processes before posting or payment.

Approval requirements may be based on criteria such as:

• Invoice amount
• Vendor
• Company
• Department
• Project
• Expense category
• Other configured business rules

Supporting documents can remain connected to the invoice to assist reviewers and maintain an audit trail.

Vendor Credits

Vendor credit memos can record returns, pricing adjustments, billing corrections, rebates, and other approved reductions.

Credits can be applied to applicable vendor invoices while maintaining a history of the original transactions and subsequent applications.

Vendor Payments

GoldFinch supports creating and managing vendor payments for approved obligations.

Depending on the organization’s configuration, payment methods may include:

• Computer checks
• Manual checks
• ACH or electronic payments
• Credit cards
• Other configured methods

Each payment remains connected to the applicable vendor, bank account, company, currency, invoices, and General Ledger activity.

Payment Batches

Payment batches help accounting teams group eligible vendor invoices for efficient review and payment processing.

Invoices may be selected using criteria such as:

• Vendor
• Due date
• Payment method
• Bank account
• Company
• Currency
• Available discounts

Authorized users can review proposed payments before completing the payment process.

Payment Applications

Payments and credits can be applied to one or multiple vendor invoices. GoldFinch maintains the application history so users can review how each payable was settled.

This helps accounting teams understand:

• Original invoice amounts
• Applied payments and credits
• Available discounts
• Remaining balances
• Payment and application dates

Check Processing

Organizations using printed checks can manage check numbers, check printing, payment applications, remittance information, and voided checks within the Accounts Payable process.

Control check access and responsibilities through appropriate permissions and internal financial policies.

Recurring Purchase Invoices

Recurring Purchase Invoices can reduce repetitive entry for regularly occurring obligations such as:

• Rent
• Utilities
• Software subscriptions
• Maintenance agreements
• Professional services
• Other recurring expenses

Review and approve generated invoices before posting and payment.

Vendor Prepayments

When required, organizations can record payments made before receiving the final vendor invoice and later apply those payments to the appropriate payable activity.

The applicable accounting treatment depends on the organization’s policies and configuration.

Accounts Payable Aging and Reporting

Accounts Payable reports help authorized users monitor outstanding obligations and payment priorities.

Available reporting may include:

• Vendor AP Aging
• Vendor activity
• Open vendor invoices
• Unapplied vendor payments and credits
• Upcoming payment requirements
• Payment history
• Payables by company, currency, or financial dimension

These reports help accounting teams manage cash requirements and investigate vendor balances.

Connected Purchasing and Accounting

When GoldFinch Accounts Payable is used with purchasing and inventory capabilities, vendor invoices can remain connected to the related purchase and receipt activity.

This connection helps organizations:

• Compare invoices with purchasing records
• Review received-not-invoiced activity
• Maintain accurate inventory costs
• Reduce duplicate transaction entry
• Trace financial entries to originating documents

Available purchasing and inventory functionality depends on the organization’s licensed GoldFinch modules and configuration.

General Ledger Integration

Posted Accounts Payable transactions create corresponding General Ledger entries based on the organization’s accounting configuration.

Depending on the transaction, entries may affect:

• Accounts Payable
• Expense accounts
• Inventory or asset accounts
• Cash accounts
• Payment discounts
• Tax accounts
• Foreign-exchange gains or losses
• Configured financial dimensions

This connection helps maintain consistency among vendor activity, Accounts Payable aging, cash records, and General Ledger reporting.

Multi-Company and Multi-Currency Support

Organizations can manage vendor transactions across multiple companies, General Ledgers, bank accounts, and currencies.

Foreign-currency transactions can retain the information needed to support settlement, base-currency accounting, and exchange-rate gain or loss recognition.

Available capabilities depend on the organization’s configuration.

Business Benefits

GoldFinch Accounts Payable can help organizations:

• Reduce repetitive transaction entry
• Improve invoice review and approval
• Connect invoices with supporting documents
• Monitor outstanding obligations and payment priorities
• Strengthen payment controls
• Improve visibility into vendor activity
• Maintain traceability from invoice through payment
• Keep Accounts Payable and General Ledger information aligned
• Use Salesforce reports and dashboards to monitor AP activity

Security and Financial Control

The organization's configured Salesforce security and GoldFinch permissions govern access to vendor records, invoices, payments, bank accounts, and accounting information.

Organizations should assign invoice entry, approval, payment preparation, payment authorization, and reconciliation responsibilities according to their internal-control policies.

Related Capabilities

• Purchasing
• General Ledger
• Bank Reconciliation and Bank Connect
• Financial Reporting
• Recurring Transactions
• Employee Expense Management
• AI Invoice Processing
• Multi-Company and Multi-Currency Accounting
• Financial Closing

Detailed AP setup, payment procedures, application rules, check processing, reporting, and troubleshooting resources are available to signed-in GoldFinch customers and approved partners.