MakersHub Data-enriched accounts payable operations for efficient scaling

What is MakersHub?

MakersHub offers an accounts payable solution focused on enhancing efficiency and accuracy by significantly reducing manual tasks. Leveraging its proprietary WiseVision technology, which combines advanced OCR with machine learning and large language models, the platform excels at instant and accurate data capture from any bill or receipt format, including detailed line items. This automation aims to eliminate manual data entry, potentially reducing the time spent on AP tasks by up to 90% and improving the reliability of financial records.

The platform provides a comprehensive workflow encompassing data capture, customizable approval and authorization processes, and seamless integration with accounting systems. It features a deep, 2-way synchronization with both QuickBooks Online and QuickBooks Desktop, automatically creating and mapping bill, payment, item, and vendor records to the correct Chart of Accounts. MakersHub also includes an embedded payment solution, MakersHub Pay, facilitating vendor payments via ACH, Check, or Wire transfer directly within the system, complete with necessary context and controls for streamlined reconciliation and enhanced visibility over the entire payables process.

Features

Smart Data Capture: Automatically extracts all data fields from bills and receipts, including line items, using proprietary WiseVision technology.
Approval & Authorization Flows: Enables creation of customizable approval workflows for bills and authorization flows for payments with notifications.
MakersHub Pay: Facilitates embedded vendor payments via ACH (Standard, Expedited, Same-day), Check, or Wire transfer.
QuickBooks 2-Way Sync: Provides deep integration with QuickBooks Online and Desktop, automating record creation and data synchronization.
Bills & Receipts Inbox: Offers a centralized repository for automatically forwarding and processing AP documents.
Auto-Mapping Rules: Allows configuration of rules for automatic coding to the Chart of Accounts and item/expense creation.
AP Collaboration Hub: Supports team collaboration with notes, document attachments, and notifications.
Powerful Search & Filters: Enables searching for bills using various criteria and operators.
Granular User Access: Allows setting flexible user permissions without requiring full QuickBooks access.

Use Cases

Automating accounts payable data entry for businesses.
Streamlining bill approval and payment authorization processes.
Managing vendor payments efficiently through multiple methods.
Integrating AP workflows seamlessly with QuickBooks Online and Desktop.
Reducing manual workload for accounting departments and bookkeepers.
Improving accuracy and visibility in accounts payable operations.
Centralizing AP documentation and team collaboration.

FAQs

How does MakersHub capture bill line items accurately?

MakersHub uses proprietary Smart Data Reader technology, combining OCR with machine learning and large language models. It identifies relevant data to capture for QuickBooks integration, ignoring irrelevant details.
Can MakersHub read both bills and invoices?

Yes, invoices and bills are essentially the same document type. MakersHub processes documents associated with Accounts Payable, typically referred to as 'bills'.
Which accounting systems does MakersHub integrate with?

MakersHub offers a deep, 2-way integration with QuickBooks Online and all QuickBooks Desktop versions, automatically creating and updating vendors, items, and jobs.
Does MakersHub handle payments?

Yes, MakersHub provides end-to-end AP solutions, including vendor payments via ACH (standard, expedited, same-day), Wire transfer, or mailed Check.
What is invoice capture software?

It's software using technologies like OCR to convert paper or PDF invoices/bills into electronic formats, extracting data to streamline AP workflows, automate approvals, and simplify management.