Finance processes

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Payments and payables

Making sure that spend is controlled and bills are paid on time are key priorities for the finance function. Modern will easily help track orders, payables and bills received - our guide on trickier aspects are detailed below:

Payments and Payables Cycle


Invoice management tools can help with the collation and accounting for expenses incurred.
To scale, paying your bills can’t require individual, manual entry at bank. Some are better than others and other alternative solutions exist to make the process easy.
Coding your VAT on payables correctly will ensure your business reclaims all rightful tax back and ensure tax audits are a breeze.
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