Accounts Payable Services
What are Accounts Payable?
Accounts payable are amounts a company owes on the account of purchasing goods or services on credit from a supplier or vendor. Accounts payable are liabilities. Organisations have to keep a proper check of reviewing and editing the data whenever and wherever required. This is due to that fact that if the company owns a large amount to other vendors, there are chances that the company might have to suffer a huge loss because by the time the profits come, you might be too late on payments. If you hire an in-house or a part-time accountant to keep a check on things, you will end up paying more and it can prove to be a lot of burden.
What is Accounts Payable Outsourcing?
Accounts payable outsourcing is a subset of business process outsourcing (BPO). This is where Global Bookkeeping comes into action. With latest software and techniques required to generate reports for any kind of accounting transactions and then entering them in the journals, you are bound to save a lot of time and money and it will help in reducing all your concerns regarding accounts payable. Rather than worrying about the Accounts Payable Outsourcing Services, you can focus on generating more income by increasing sales and client frequency. While you concentrate on growing your business, your virtual assistant from Global Bookkeeping that you have hired to outsource your accounts payable services is processing all your bills in a quick and efficient manner to give you the power to easily manage the Accounts Payable Outsourcing Services.
Global Bookkeeping AP (Accounts Payable ) Outsourcing Workflow
- Receive an invoice from your supplier
- Invoice assigned internally for invoice processing
- Invoice data entered into accounting software
- Invoice checked and approved for payment
- Invoice processed for payment in a payment run
Benefits of Accounts Payable Outsourcing to Global Bookkeeping
- Saving Time & money
- Access to new payable solutions and tools
- Improved Workflow
- Increased security
As an accounts payable outsourcing service provider, we work efficiently to provide benefits of reducing any redundant entries, paper-less handling of accounts as well as high standards of result-oriented and easy to understand reports.
Sometimes, you are bound to get some early payment discounts for paying the payable amount to the vendors. We always keep in check the various offers and discounts that you might get on that payment and let you know that you can save more on that.
We will also work to let you know the final dates of paying and outstanding amount so as to avoid any late payment charges that might hamper your budgeting decisions as well.
Rather than storing your invoices that can be lost if they are not stored properly, digital invoices are generated by scanning them or regenerating new invoices from the old ones for the purpose of storing them digitally without having to worry about losing them.
Hence, if you are outsourcing your accounts payable services to Global Bookkeeping, you are bound to maximise profits in no-time. You can always ask for a FREE DEMO of our services and we will be more than happy to provide you the same. You can Contact Us for more info about or services.
