Account Payable

Account Payable is a term used to describe the amount owed by an organization to its suppliers or vendors for goods or services received. It is essential to managing a company’s cash flow and financial health, as timely payment can ensure continued access to critical products or services.

OCS.io supports Account Payable functionality to enable organizations to transfer funds to their customers via various channels, with bank transfer being the most commonly used. The platform automatically manages these payments, allowing organizations to schedule and initiate payments as needed. Additionally, OCS.io supports automatically pairing Request for Payment with Payments sent from the organization’s bank account.