Accounts Payable
Companies have to comply with regulatory requirements that are quite complex, besides trying to achieve the maximum possible value from expenditures and to reduce costs as far as possible. Higher business intelligence, better service levels, better controls and lower costs of processing can be attained through automated systems based on business rules. Our flexible and innovative accounts payable accounting services offer customers the ability to convert their processes for accounts payable into such a system. We have in-depth understanding of the needs of customers in various industries, in addition to extensive experience, and have developed our services based on that. Our accounts payable processing services are cost efficient, flexible, dependable and quick to implement and have been developed through the integration of many technologies. Our accounts payable services are of a quality that can be matched by few in the industry and are comprehensive and innovative.
An Overview of Our Accounts Payable Solutions:
We offer the following services or parts thereof:
- Accounting system's updates through:
- Invoices from suppliers
- Evidence regarding services/goods receipt
- Purchase orders
- Invoice Processing Services: Verification and approval of bills from suppliers, after matching with services/goods receipts and purchase orders. Escalation or alerts for instances related to:
- Issuance of purchase orders without budget or authority
- Acceptance of services/goods by persons who are not appropriately designated
- No evidence of services/goods delivery against supplier bills
- Vendor purchase orders not matching supplier bills
- Incorrectly computed supplier bills
- Resolution of open issues through follow-up of escalations/alerts
- Updating of the system for accounts payable by processing supplier bills
- Recommendation of early payment of supplier invoices where attractive cash discounts are available
- Usage of documentary credits for ‘Account direct' payments on the basis of advice from your bank
- Preparation of instructions for disbursements of supplier payments due through checks or direct transfer, following treasury approval, followed by transmission for dispatch after signature
- Preparation of credit or debit notes wherever required
- Maintenance of records for accounts payable
- Preparation of vendor account statements
- Reconciliation of vendor account statements with your books
- Analysis of unbilled supplies, open PO commitments etc.
- Provision of summaries (by age, segment, etc.) of amounts you owe your vendors
- Analysis of supplier price trends and purchase history
