Manage Your Accounts And Financial Assets Through Accounts Payable Process-spyair

Outsourcing Do you wish to reduce processing cost, evade late payment fees and penalties, avoid duplicate payments, assess invoice documents via web, etc. and get the end to end account payable process done by a renowned outsourcing .pany? Every organization, whether big or small or midsized, either has a department of account payable or a small staff or bookkeeper to manage the account payable procedure. In some cases the owner of the business may also do it on his own. If the owners dont want to manage the account payable process themselves they can also avail this service through the outsourcing organizations or .panies. Before you avail the account payable process , it is necessary to know in detail about how it actually works. The end to end account payable process is used to make the payment of an invoice passed on from the vendor. The process starts from the receipt of invoice from vendor and ends with the final payment of the invoice received. The end to end account payable process is done in five steps: 1- Vendors invoices are received, scanned and uploaded, and processed into the system. 2- Quality checks are done, and if there is any discrepancy regarding the invoices, they are resolved by working on them. The parked invoice are also resolved in this step. 3- A report or payment proposal is made of the current date in which the invoices fall due for payment. 4- Final payments of the invoices made as per the agreement. 5- Resolving the issues regarding payments of invoices, if any. Therefore, account payable process is a key indicator of the operational usefulness. It protects the .anization from paying extra bill or penalty in state of high account payable conditions, and also provides full benefits and grace period to the .anization if the bill is paid before the due date. Here are some of the benefits that account payable process can enable: It can reduce the processing cost It can help in accessing the invoices documents through web It can also help in avoiding late payment fees or penalties It provides early payment discounts It helps in evading duplicate payments It is environment-friendly, as it eliminates the need of paper invoice Therefore, end to end account payable process provides full assistance to the .anizations, helping them to establish and expand their business. About the Author: Stacy Thomas is a Business critic and journalist actively involved with the some of the big business circuits across the globe. He is also an ace columnist with major business magazines and particularly an expert in outsourcing services. To know more about the outsourcing services, do visit Quatrro FPO Solutions Article Published On: 相关的主题文章: