PROSPERO FINANCIALS

Accounts Payable

Prospero's Accounts Payable runs on the same ledger as everything else you do — enter a vendor bill, approve it, and pay it, and your books are already correct. No separate AP tool. No spreadsheet tracking what's due.

Everything you need to manage what you owe, built in.

1. Bills that don't count until they're approved

Enter a bill and it lands in Draft — reviewable, editable, and invisible to your financials until it's Approved. That's the point it becomes a real, GL-coded liability.

2. Line items that code themselves correctly

Every bill line carries a description, quantity, amount, and GL account, so an approved bill is already a correctly-coded transaction — nothing to fix in a close.

3. Payments that apply themselves to the right bill

Record a payment once and split it across as many open bills as you need. Prospero shows each bill's open balance right in the allocation screen, so there's no guessing what's still owed to a vendor.

4. AP Aging, always current

See exactly what's outstanding — current, 1–30, 31–60, 61–90, and 90+ days past due — sorted, filtered, and totaled automatically. Click a bucket to drill into exactly which bills are sitting there.

5. 1099 tracking, built in

Mark a vendor as 1099-eligible once, and Prospero tracks what you've paid them toward the reporting threshold — no separate spreadsheet at year-end.

Built for every business that pays a vendor.

Any business with a bill approval step — if someone other than the person entering a bill needs to sign off before it's paid, this is built for that.

Businesses juggling multiple vendors — see everything you owe, to everyone, in one aging report instead of a folder of unpaid invoices.

Anyone issuing 1099s — flag a vendor once at setup and let Prospero track the threshold for you all year.

Already tracking bills in a spreadsheet or a separate AP tool? Prospero can import your open bills as part of setup, so nothing outstanding gets lost in the switch.

From bill to paid, in three steps.

Step 1 — Enter the bill

Select the vendor, enter the bill number and dates, and add line items with GL accounts. It saves as a Draft — reviewable before it counts as anything.

Step 2 — Approve it

Once it's checked, approve the bill. That's the moment it becomes a recognized liability and shows up in AP Aging.

Step 3 — Pay it

Record the payment, apply it to one or more open bills, and watch the bill status, your cash balance, and AP Aging update together — automatically.

The same double-entry rigor you already trust.

Accounts Payable in Prospero isn't a bolted-on bill tracker — it's built on the same posting engine that runs every invoice and journal entry in the system. A Draft bill is genuinely unposted; an Approved bill is a real, balanced transaction the moment it's approved. Nothing is estimated, nothing needs a sync, nothing is reconciled after the fact.

FAQ's

What's the difference between a Draft bill and an Approved bill?

A Draft bill is fully editable and has no effect on your books — it's not yet a recognized liability. Approving it posts the transaction and puts it on AP Aging. Only Draft bills can be approved.

Can I edit a bill after it's approved?

Yes. Editing an approved bill replaces its posting rather than duplicating it, so your numbers stay correct even after a correction.

Can a payment be larger than any single open bill?

Yes. Apply as much of it as needed to each open bill; any amount left unallocated stays on the payment record and can be allocated later.

How does 1099 tracking work?

Mark a vendor as 1099-eligible and enter their EIN once in the vendor record. Run the 1099 report for any tax year to see every eligible vendor and what they've been paid.

How do I know what's overdue?

The AP Aging report groups every open bill into current, 1–30, 31–60, 61–90, and 90+ day buckets, with totals for each — no manual tracking required.

Stop finding out you're overdue from a vendor's phone call.

Use Accounts Payable and let it track what you owe.