Accounts Receivable Management and Accounts Payable Management
Introduction
Accounting is characterized by its criticality to any business function, the standard procedures and the exacting attention to detail that it demands. While the function requires expert accountants and systems, the process can get extremely repetitive, making it prone to human or system errors. Today’s companies are realizing that outsourcing accounting is a smart business proposition as compared to the costly and elaborate in-house accounting capabilities.
Choose Accexperts, by combining the experience of skilled accounting personnel, your accounting software and our web-based document transfer system, you will have an efficient accounting system that provides you with the accurate, timely financial data you need to confidently run your company. We provide a range of financial and accounting services to clients including but not limited to Accounts Receivable and Accounts Payable.
Service
Accounts Payable
- Input vendor invoices to payable system
- Maintain vendor master files
- Respond to vendor inquiries about payment status
- Retrieve copies of payments as necessary
- Process requests for stop payments when necessary
- Cut checks to vendors based on due dates or client instruction
- Reconcile vendor statements to accounts payable ledger
- Reporting to organization on detailed aged payables and cash requirements
Accounts Receivable
- Record and account for revenue
- Input receivable transactions into the accounting system
- Prepare and deliver periodic statements
- Issue client-approved credit memos and refund checks
- Maintain subsidiary receivables ledger
- Process client-approved adjustments
- Apply cash received to customer accounts and resolve "short pays"
- Light phone collections as needed by client
- Client to photocopy checks and provide to Accexperts
- Client to prepare deposit slips (provide to Accexperts) and make bank deposit
Procedure
Accounts Payable Business Process Management
- Document Imaging
- Workflow
- Data Entry/Capture
- Invoice Approval
- Purchase Order
- Receipt Matching
- Exception Management
- Disbursement
- Vendor Relations
Accounts Receivable Business Process Management
- Billing
- Lockbox
- Cash Application
- Exception Management
- Customer Service
Features
Accounts Payable
- Easy, accurate forecasting of current and future cash requirements
- Preview of reports to screen, fax and e-mail capabilities
- Complete purchase analysis of vendors
- Provide automation of payment processing
- Take advantage of discounts
- Streamline data processing by approving vendor invoices electronically
- Support recurring entries
- Allow for manual and void check processing
- Preview of reports to screen, fax and e-mail capabilities
Accounts Receivable
- Information processing – Accounts Receivable provides a variety of processing methods that allow you to update specific transaction information in customer records
- In Accounts Receivable, the following processing methods are available
- Statement processing – Updates charge, payment, deposit, and adjustment transactions and prints customer statements. You can select whether you want to generate automatic charges.
- Invoice processing – Updates invoiced charges and prints invoices. You can select whether you want to generate automatic charges.
- Update processing – Updates payments, deposits, and adjustments.
- Refund processing – Generates refund transactions for overpayments or deposits.
- Write-off processing – Generates write‑off transactions for uncollectible debts.
Security
Accexperts seeks to sustain consumer confidence and trust by ensuring the security, privacy and integrity of financial transactions. Accexperts works as a strategic brain trust to provide intellectual capital and address emerging issues where financial services, technology and commerce intersect, acting quickly to address problems and galvanize the industry. We determine security by user or user group for every function in Accounts Receivable and Account Payable. All menus and menu options are secured and can be accessed only by authorized personnel.
Quality
We have well educated specialists who perform a system analysis beyond basic knowledge of accounting. In the most difficult cases, the step is performed by our top developers who solve tasks of utmost complexity according to your needs.
Every decision process revolves around cost savings without compromising on the quality. Financial analysis should be done based on the total costs to your expected goals. Calculate financial risk depending upon the back up strategy adopted by the offshore vendor.
Client Benefits
- Lower finance & accounting overheads
- Reduced and controllable operating costs
- Increased productivity and company efficiency
- Greater accuracy and faster processing
- Optimized collections, tax management, risk management, financial reporting etc.
- Leverage digital mesh domain expertise in finance, accounting and business administration.
- Access to needed technical expertise
- Improved focus on your core business, products and growth
