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Accounts Payables Services

Effectual Accounts Payables services improve the working capital; foster cash savings, and nurture supplier relationship management.

  • Invoice Processing and Workflow
  • Approval and Management of Resolution
  • Vendor Assistance Service
  • Payment Processing
  • Month-end and Internal/External Reporting
  • Vendor Accounts Reconciliation
  • Goods Receipt Invoice Receipt Reconciliation
  • Vendor Data Management

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Accounts Payable Outsourcing services

Managing a large amount of invoices and documentation related to accounts payable in a sequence can be a very hectic task for a company. This process is time consuming and comes with a high cost for the Accounts Payable department.

Therefore, the outsourcing of accounts payable services benefits the company in streamlining the multiple tasks including:

  • Scanning,  
  • Matching,
  • Validation, and
  • Approval.

This helps the company’s staff to focus on core business activities and working on improvements such as generating faster processing times and quick payments.

Importance of Invoice Indexing and Workflow for Accounts Payables Processing

Scanning your invoices and setting up a workflow can benefit the company to systematize the flow of vendor invoices by using various Quality Check processes and Approvals system in an easy way. It makes sure the same by recommending small technical changes in the existing workflow and thus, creating a workflow with necessary control points for correctness and timeliness of the payable cycle.

Invoice Indexing

We index your invoices/expenditures of Purchase Order and Non-Purchase Order to go through the required approval authority. The system allows us to get a complete Management System Information (MIS) for checking the status of the invoice in real time and maintaining all your geographies.

Invoice Processing Requirement

Our team of expertise has vast knowledge of the Accounts Payable process that manages all types of invoices including PO Invoices, Non-PO Invoices, Services or Material Invoices, Work Orders with a high level of accuracy on applicable taxes, helping your business to update payables in a punctual manner.

Role of Suppliers: Suppliers also play an essential role in growth of the company by giving their payments timely that eventually helps in strengthening the relationship. A correctly processed invoice leads to problem-free clearance of payable and take discounts on payments made early as well.

Importance of Payment Processing in Accounts Payable Processing

Credit period is an important aspect to be managed by the company as it affects the cash flow directly. If a payment is made early, it gives you additional discounts, which saves money for the business and on the other hand, if a payment is made on due dates, it gives the advantage of the complete credit period and maintain working capital available all the time to the business.

GRIR Reconciliation Assistance

Your team might take a lot of time at the end of the year to correct the ledgers for nominal accounts, or any suspense account. This problem can be rectified if your inventory and payables are reconciled regularly so that your books stay updated and represent accurate status of your ledgers.

We reconcile at the base level that starts from receiving the Purchase Order with the invoices that are sent by the vendors and then reporting any variation at frequent intervals. We coordinate with the procurement and the Accounts Payable team to take the required action.

Payment Processing

All payments will stay in your controls. Our team prepares an aging of payables, which highlights all the critical invoices, enlists all the top vendors, sets up a payment proposal in the accounting ERP system and makes it accessible for your approval and submitting the payment file to the Bank. Whether you pay daily or weekly, we make all the required data accessible for you to take a decision on your payables.

Vendor Statement Reconciliation

  • Do you receive statements from your vendors?
  • Are you charged with the late fees on the statements?

Do not wrestle with the dispute just because of the fact that your statements are not reconciled timely. To avoid any undue late fees, we will reconcile your Vendor Statements. You can easily concentrate on issuing 1099 forms on due dates and meet deadlines of annual returns.

Vendor Statement Reconciliation Assistance

Considering all applicable discounts/returns, we will reconcile all of your vendor invoices and the payments made to them. Also, we will update the vendor periodically for any ledger differences. For this, we coordinate with the Vendor's Accounts Receivable team for any required rectification.

Importance of Vendor Data Management

A large number of vendors require professional vendor management in the business. It is important to know whether the suppliers are One Time Suppliers or Frequent Suppliers. One time suppliers are those who deal with the company only once. Whereas, frequent suppliers are the ones who deal with the company more than one time. The business must correctly set-up in your accounting ERP system so that they are reported correctly in your returns.

Therefore, the accurately updated and managed vendor databases help in management of the day to day transactions gently while ensuring that the accuracy of tax ability is met at the end of the year.

Vendor Data Management Assistance

While initial set up, we get the obligatory information and tax certificates from your vendors, and keep them updated yearly. Also, we work on requests from the vendors whenever they want their details to be updated such as name change, tax ability, business nature and contact details.

Vendor Help desk and its Importance

Some organizations have excellent performances as they are getting their books reconciled on time. A dedicated AP Help desk team will focus on all queries coming from your vendor. This is compulsory to strengthen the organizational relationship by hearing your vendors well.

Vendor Help desk Assistance:

We set up a Mailbox and Desk Number so that your vendors can reach you. We address in a sophisticated and timely manner to all the logged in issues received on the shared mailbox and the help desk number. To minimize the queries, we share an analysis of queries and create a solution plan.

Govind

Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.

Govind

Delhi

Niketan123

Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.

Niketan123

Delhi

Our Cients

  • Sahara
  • hpmi
  • ginkgo
  • sahara shop
  • transpole
  • honda
  • sharda
  • homestead
  • halcrow
  • travel unravel
  • sbi
  • veolia
  • syndicate
  • cibersons
  • freshmens

Free consultation of all services at just Rs. 1