Enjoy complimentary data migration when switching from your existing bookkeeper or CPA to Institution.
Institution
Accounts Payable

Make every payable visible before it becomes urgent.

Bill intake, verification, coding, approvals, and payment coordination — with controls around vendor records and changed payment details.

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Operating flow
  1. 1Received
  2. 2Verified
  3. 3Coded
  4. 4Approved
  5. 5Coordinated
  6. 6Reconciled

Approval flow

Bills flow through intake, verification, coding, and an approval routing appropriate to the amount and vendor.

Responsible party
Institution
Output
Bill logged with a document reference.

Controls

Duplicate detection
Duplicate invoices flagged during intake.
Changed payment details
Vendor payment-detail changes are re-verified before use.
Vendor-record controls
New vendors require documentation before payment.
Payment authority
Payment approval and release remain with the client.

Boundaries

  • Institution does not hold customer funds.
  • Payment authorization remains with the client.
  • Legal disputes with vendors require appropriate professionals.

Connected services

Bookkeeping & Close
Payables integrated with the close.
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Banking Coordination
Records that support payment execution.
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Controller Support
Approval-policy coordination.
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FAQ

Frequently asked

  • Payment authorization and release remain with the client. Institution coordinates the workflow and reconciliation.