Outsourcing Accounts Payable
Services to Optimize Cash Flow
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Outsource Your Accounts Payable Services for Streamlined Payables Management
Businesses often rely on supplier credit to manage cash flow effectively. Suppliers extend credit terms, offering discounts for early payments, which create accounts payable. This arrangement allows businesses to allocate funds strategically while ensuring timely payments to suppliers after goods or services are delivered. This cycle supports smooth business operations by facilitating cash circulation.
While delaying payments may temporarily bolster available funds, it can lead to accounts payable becoming bad debt over time. To avoid such risks, timely management of accounts payable is crucial. At TaxPeak Accountants, we specialize in providing accounts payable outsourcing services to businesses across the Worldwide. We customize our services to prepare detailed reports as frequently as daily, weekly, or biweekly, depending on your business needs. Our efficient online accounts payable solutions enhance cash flow and uphold strong vendor relationships.
Maintaining payment terms with suppliers is essential for preserving your business’s reputation and operational continuity. With our services managing payments, creditors, invoices, and paperwork, you can focus on core business functions and drive growth effectively.
Our Accounts Payable Services
TaxPeak Accountants offers comprehensive accounts payable outsourcing services to businesses across all industries. As a trusted leader in accounts payable outsourcing, we leverage our extensive experience and deep expertise to manage your accounts payable efficiently. Our services are designed to support your business growth and enhance financial health. We provide customized reporting on a daily, weekly, or biweekly basis to meet your specific business needs.
Data Capture
Data capture and management from paper-based documents. It is inclusive of the following –
- Sorting
- Preparation of Batches
- Indexing Documents
- Auditing and the reconciliation of all the scanned invoices
- Storage of documents & retrieval
- Processing and receiving the incoming mail
Data Processing
Resolution and proactive management of the exception transactions. It is inclusive of the following –
- Exception and Approval routing
- Minimised month-end process of closing
- Audit trail documentation
Suspect Duplicate Analysis
Control and auditing mechanism which excludes the threat of redundancy in case of payments and better support the recovery and reclamation:
- Automated as well as manual data entry services
- Database matching, which is three-way
- E-Invoice processing
Disbursement Services
All the major parts of the payments are handled in minimal time to minimise the floating cost administered upon the customers
- Return check handling
- Secure and efficient stock checking
- Special invoice and mail handling service
- Electronic payment handling
- Online check proofing
Additional Services
- Utility bill management
- Expenses & travel cost management
- Tax reporting management
- Supplier management
- Special project reports
Benefits of Outsourcing Accounting Payable Services
Benefits of Outsourcing Accounting Payable Services
Timely Invoices Payment
Regular Interval Reports
Compliant With All Legislations
Confidentiality of Data Shared
Examining Every Paid Invoice and Issued Checks
Expert Consultancy at a Fraction of the Cost
Error free processing of Invoices
No Capital Investment in the Purchase of Costly Software
