Accounts Payable Solutions

Manage working capital and streamline expenses

Empower your business with accounts payable solutions

Our accounts payable solutions go beyond conventional methods, offering you a seamless and secure platform to manage commercial payments. Imagine a streamlined process where every transaction is a step toward optimizing your financial operations. With our tools, you gain a strategic edge and real-time insights, allowing your business to flourish.

Utilize ACH payments

Deposit funds directly into customer accounts.

Integrate accounts payable

Streamline your AP invoice and payments faster.

Use controlled disbursements

Keep payables up to date with daily check notifications.

Find out more about accounts payable solutions
Accounts Payable Solutions Benefits

The right tools to manage your business

Get a full range of accounts payable solutions

We offer a suite of commercial accounts payable products that allows you to run your business more effectively and efficiently.

Send and receive electronic payments securely

Let clients and employees receive payments faster, eliminate the costs of generating and mailing checks, and mitigate the risk of tampering and loss that can come with using checks.

Keep close tabs on your cash

Controlled Disbursement accounts payable solutions provide notifications each morning for checks that will clear against an account that day. You can then move funds into the account to cover the payment or use excess funds for other purposes.

Receive payments immediately

Unlock instant cash flow and boost your business' efficiency with Real-Time Payments, or RTP®. Receive funds in seconds, and keep your operations running smoothly.

We Can Help

Our AP solutions

First Citizens can make your accounts payable processes easier and more efficient. We offer a variety of payables management tools and solutions.

  • Integrated Payables, or IP
  • Automatic Clearing House, or ACH, Origination services
  • Controlled Disbursement
  • Wire transfers
  • First Citizens Purchasing Card by Visa®
  • Zero Balance Account cash flow management tool
  • Real-Time Payments, or RTP

Integrated Payables

Watch this brief video to learn how First Citizens Integrated Payables can help optimize your financial operations while mitigating risk.

Watch the First Citizens Integrated Payables video

First Citizens Bank Integrated Payables is an accounts payable solution that can transform your AP department by streamlining payment initiation to save costs.

Our payment solution reduces manual effort and minimizes the risk of fraud using an all-inclusive payment file created in your accounting system. Our implementation specialist will partner directly with your technology team to assist you in creating your payment file.

This payment file consolidates your check, ACH, wire and virtual card payments to create operational efficiencies and save you valuable time.

Using virtual card payments allows your business to take advantage of cash rebates, providing your company the opportunity to earn revenue.

Our vendor enrollment team will help drive card usage and convert paper check payments to a virtual card or electronic option with a customized campaign to your vendors who may already accept electronic payments.

As part of our commitment to Forever First service, you'll have a dedicated First Citizens Bank associate working with you every step of the way.

Mitigate risk and ensure every transaction helps optimize your financial operations and drives business success with First Citizens Bank Integrated Payables. To learn more, please contact us today.

FirstCitizens.com/tms

Member FDIC. © 2024 First Citizens Bank & Trust Company. All rights reserved. This information is provided for educational purposes only and should not be relied on or interpreted as accounting, financial planning, investment, legal or tax advice. First Citizens Bank (or its affiliates) neither endorses nor guarantees this information, and encourages you to consult a professional for advice applicable to your specific situation.

Accounts Payable FAQ

People often ask us

Accounts payable solutions, or AP solutions, refer to a dynamic set of tools and processes designed to streamline and optimize the management of a company's outgoing payments. These solutions empower businesses to handle their accounts payable transactions more efficiently—ensuring accuracy, timeliness and financial control. From automatic invoice processing to providing real-time insights, AP solutions endeavor to help businesses focus on strategic growth and financial well-being.

Managing accounts payable effectively involves a strategic approach to handling financial obligations in a streamlined manner. Steps involved include:

  • Automation
  • Organized record-keeping
  • Timely payments
  • Vendor communication
  • Strategic forecasting
  • Financial software integration
  • Regular audits
  • Employee training

By combining these elements, accounts payable solutions and tools can ensure financial accuracy, boost compliance timeliness and contribute to the overall operational efficiency and financial decision-making for businesses.

Accounts payable get reconciled in a full cycle process that involves invoice capture, invoice approval, matching invoices to purchase orders, payment authorization and posting payments.

Integrated Payables, or IP, is a B2B and B2C payments platform and accounts payable solution that can transform accounts payable disbursements from checks to electronic payments by processing a consolidated payment file. This First Citizens platform supports check print or mail, ACH, USD domestic wire and purchase card with full electronic remittance delivery.

Using this intuitive application, payment files are transferred to IP to review records prior to production, release jobs, check the status of files, choose delivery options and view reports on all completed files.

IP serves the larger commercial customer who has no need for an invoice workflow but seeks to send high-volume payments of all types directly to the bank for processing.

Businesses who are best served by IP are:

  • Corporations in the US with revenues greater than $10 million in annual sales
  • Entities with at least 500 AP checks per month

The procure-to-pay process is also known as purchase-to-pay and P2P. It refers to the entire purchase and payment process for billable goods and services purchased by a company.

You must receive authorization from your employees or customers to obtain the information needed to deposit funds into their checking and savings accounts for payroll, employee expense reimbursement, government benefits, taxes, other refunds, annuities and interest payments. Please reference the Nacha website (Section VII Appendices) for Sample Authorization for Direct Deposit through ACH (Credits) for more information.

Accounts Payable Solutions Insights

Streamline your company

Industry Expertise

Cash Flow Management Is Key in Manufacturing Success

Healthy cash flow management can make manufacturers' operations more stable and streamlined.
Tight production planning and control may prove to be an integral part of cash flow management strategy.

Michelle Chan-Ponder

Area Executive

Accounting

Cybersecurity Best Practices for CPAs and Accountants

These cybersecurity threats specifically target accountants and CPAs.
By understanding the most common threats and implementing some basic best practices, accounting firms can effectively secure customer data and have a plan to deter, detect and respond to threats.
Accounting

In-House Accounting or Outsourcing: How to Choose

There are lots of perks to having an in-house accountant. But does the cost make sense for your company?
Whether your company will benefit from having an in-house accountant depends on the reasons you need an accountant and several other factors.
Explore more commercial accounts payables insights

RTP® is a registered trademark of The Clearing House Payments Company, LLC.

Normal bank approval applies.

Links to third-party websites may have a privacy policy different from First Citizens Bank and may provide less security than this website. First Citizens Bank and its affiliates are not responsible for the products, services and content on any third-party website.

Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.

NMLSR ID 503941