Accounts Payable

• Accounting·Accounts Payable

  Do you have an accounts payable approval process? (Part A: the multi-step workflow)

  Yes — the Kompas AP dashboard has multi-step approval workflows built in. A payable is first approved by the on-site team, then approved by accounting for posting to the proper GL allocation, and then approved a third time to disburse the payment from the bank account through the payment engine. Each step is a different hand, which gives you real segregation of duties as your team grows, and every approval is logged against the invoice.

• Accounting·Accounts Payable

  Do you have an accounts payable approval process? (Part B: can I bypass it as a solo operator?)

  Yes — every approval step in Kompas is optional, so a one-person team doing all the tasks can bypass the workflow entirely and enter, approve and pay in a single pass. Nothing is locked behind an approval you would have to invent a second user for. As you hire and start separating duties, you switch the steps back on, and the AP dashboard scales with you rather than forcing you to rebuild how payables are processed.

• Accounting·Accounts Payable

  Can I automate data entry for supplier invoices?

  Yes — forward supplier invoices to a designated mailbox and the Kompas optical character recognition engine reads the document and enters the basics for you: invoice date, amount, supplier and entity. The OCR does the keying and a human-in-the-loop validation step confirms it before the payable moves forward. Suppliers can also carry a default GL account, so a recurring invoice arrives already read, already coded, and waiting for someone to review rather than retype it.

• Accounting·Accounts Payable

  Can I generate purchase orders and match them to invoices?

  Yes — Kompas generates purchase orders and matches them against supplier invoices as those invoices are processed, either automatically or through a human validation step. That gives you a check between what was ordered and what was billed before the payable enters the approval workflow, which matters most on renovation and capital work where quantities and pricing drift. The matched invoice carries its purchase order reference through to payment and into your reporting.

• Accounting·Accounts Payable

  How do I pay supplier invoices in Kompas? (Part A: paying by EFT)

  You can pay suppliers directly by EFT through the Kompas payment engine, as long as the vendor provides a void cheque or their banking details. All EFTs are same-day settlements, so the day you release the payment is the day the vendor is paid, and the payment reconciles itself in your ledger as of that settlement date. Every EFT is accompanied by an automated remittance email, and operators typically save $2 to $3 per payment versus cutting the cheque manually.

• Accounting·Accounts Payable

  How do I pay supplier invoices in Kompas? (Part B: recording a payment made offline)

  You can record a payment in Kompas that happened outside the platform, so a wire, a bank bill payment or a cheque written by hand still closes off the payable and posts to the right GL account. The invoice is marked paid, the supplier balance clears, and your books stay complete even for money Kompas did not move. Manual payments can also be voided later if they were entered in error, which keeps a mistake a correction rather than a workaround.

• Accounting·Accounts Payable

  How do I pay supplier invoices in Kompas? (Part C: printing cheques)

  Kompas prints physical cheques on the cheque stock you already own, whether that stock is blank or pre-printed. It is 2026 and a great many suppliers, municipalities and tax authorities still take paper, so cheque printing stays inside the platform instead of pushing you into a second system to handle it. Printed cheques post against the payable and the bank account like any other payment, and a cheque payment can be voided if something goes wrong.

• Accounting·Accounts Payable

  Can I pay government or municipal taxes through Kompas?

  No — Kompas cannot pay government or municipal bill-pay vendors by EFT, so property taxes, school taxes and similar remittances have to be handled another way. Two routes work. Pay them outside the platform through your bank and record the payment in Kompas so the ledger stays complete, or have Kompas print a cheque on your own cheque stock and mail it. Either way the payable, its GL coding and its sales tax treatment still live in the platform.

• Accounting·Accounts Payable

  What happens if the OCR reads an invoice incorrectly?

  Every entry the Kompas OCR engine produces carries a confidence score, and anything below the threshold is flagged for human review. No payable moves into the approval workflow before a person has verified it, so a misread amount or a wrong supplier is caught at the front of the process rather than at payment. The reviewer corrects the field and the payable continues on its way, with the original invoice document still attached to the record.

• Accounting·Accounts Payable

  Can I set a default GL account for each supplier?

  Yes — you can assign default GL accounts to a supplier in Kompas so their invoices post to the right expense account without anyone coding them by hand. Combined with OCR data entry from a forwarded email, a recurring invoice from your landscaper or elevator contractor arrives already read, already coded and waiting only for approval. You can still override the coding on any individual invoice where the expense genuinely belongs somewhere else.

• Accounting·Accounts Payable

  Can I tag a payable to a specific unit, building or department?

  Yes — Kompas gives you several layers of tags on a payable: unit, building, department and recoverable expense pool. That is what produces reporting granular enough to answer which building absorbed a cost, which unit a renovation belongs to, and which expenses sit in a pool you recover from tenants. Tags flow into both the standard and the enhanced reports, so the detail is available without anyone maintaining a parallel cost-tracking spreadsheet.

• Accounting·Accounts Payable

  What kind of cheque stock does Kompas print on?

  Kompas has two cheque templates, covering the two stock types businesses actually buy. On blank laser serial-coded stock from your bank or a supplier, Kompas prints the bank account number, the supplier name and the signature field. On pre-printed stock, where most of the detail is already on the paper, Kompas prints the supplier name, the amount, the bank account number and the cheque number. Either way you keep using the stock you already own.

• Accounting·Accounts Payable

  How does a vendor know a payment has gone through?

  Kompas sends an automated AP remittance email to every vendor it pays. Whether you settled one invoice or ten in a single payment, the vendor receives a detailed remittance listing exactly which invoices were paid, the reference number and the settlement date, so they can match it against their own bank activity. That removes the follow-up calls asking what a deposit was for, and it happens on every EFT without anyone composing a message.

• Accounting·Accounts Payable

  Can I pay an invoice in instalments or schedule recurring payments?

  Yes — Kompas lets you pay a supplier invoice in instalments or partial payments rather than settling the whole balance at once, with the remaining amount staying open on the payable. You can also build a schedule of payments for service contracts and recurring payables, so a maintenance contract or an insurance instalment plan runs on its own cadence. Each payment posts individually to the ledger and generates its own remittance to the vendor.

• Accounting·Accounts Payable

  How do I track how much sales tax I can recover on what I pay?

  In Kompas you designate whether a payable relates to residential, commercial or mixed-use property, and that designation drives whether the sales tax on it is recovered in whole or only in part. A mixed-use building rarely recovers everything, because the residential and commercial sides are not treated the same way. Setting this at the invoice means your sales tax reconciliation report already separates recoverable from non-recoverable tax, rather than leaving it as a year-end allocation exercise.

• Accounting·Accounts Payable

  Can I void a payment or edit a payable I entered in error?

  Yes — Kompas lets you void payments of type cheque or manual, and edit any payable already entered in the system, so a mistake gets corrected rather than worked around. Voiding reverses the entry in the general ledger and reopens the payable for reprocessing. EFT payments already released through the payment engine are the exception, because the funds have left the account; those are resolved with the vendor rather than voided in the platform.

• Accounting·Accounts Payable

  How long does it take for a vendor EFT to settle?

  All EFTs on Kompas are same-day settlements, so the day you release the payment is the day the vendor is paid. There is no two or three business day float to explain to a supplier chasing funds, and the payment reconciles in your ledger as of that same settlement date. The vendor receives an automated remittance showing which invoices were paid, the reference number and the settlement date to match against their own bank activity.

• Accounting·Accounts Payable

  Can I future-date vendor payments to manage cash flow?

  Yes — Kompas lets you schedule future-dated EFT payments, so you can approve a payable today and release the funds on the date that suits your cash position. A payable held for a later date stays visible as scheduled rather than dropping out of the approval workflow or sitting on someone's desk. Settlement, the vendor remittance and the ledger posting all happen on the future date you chose, not on the day you approved it.

• Accounting·Accounts Payable

  Is the supplier list global, or does each entity keep its own?

  The supplier list in Kompas is global, not per entity. Add a supplier once and every entity in your portfolio can process invoices and payments for that supplier, with its banking details and default GL account already on file. For an operator running fifteen companies against the same roofer, plumber and insurer, that removes fifteen duplicate vendor records and the mismatched banking details that inevitably come with them.