Accounts Payable Services | Outsource Accounts Payable Process

Stay On Top Of Your Payable With Accounts Payable Services

Businesses need to have reliable accounts payable services in order to maintain healthy relationships with suppliers and reduce the cost of working capital. In today's world, where they're merely a finger stroke away from all their crucial information, it's even more imperative for organisations to dispatch the best accounts payable management systems. In these challenging times, a quality accounts payable service can be a great saving measure. Efficient accounts payable services ensures that all payments from your suppliers are conducted before the due date. Outsourcing accounts payable process can help you save considerable time and provide financial oversight. Also automated software can be a good option as well. The accuracy of the application reduces the chance for error, which allows you to save time and money.

We at Whiz Consulting offer outsourced wide range of services including outsourced accounts payable services to all types of business, send them reports on their system. We provide outsourced accounts payable services that eliminate the need to hire personnel in-house for the purpose of accounts payable. If you need outsourced accounts payable services we are your go-to service provider.

Our Outsourced Accounts Payable Services

Data Capture

Management of paper-based documents. This is inclusive of-

Sorting
Preparation of Batches
Indexing the document
Auditing & the Reconciliation
Storage & documents retrieval
Processing of the incoming mail

Data Processing

Resolution and management of all transactions.

Exception and Approval routing
Minimised month-end process of closing
Audit trail documentation

Suspect Duplicate Analysis

Control mechanism of data.

Automated & manual data entry
Three-way database matching
E-Invoice processing

Disbursement Services

All the major parts of the payments are handled in minimal time.

Return cheque handling
Secure and efficient stock checking
Special invoice & mail handling service
Electronic payment handling
Online cheque proofing

Other Accounts Payable Services

Utility bill management
Expenses & travel cost management
Tax reporting management
Supplier management
Special project reports

Benefits of Outsourcing Accounting Payable Services

Outsource accounts payable services can help you in the following manner –

Increase in Efficiency

You can focus core business activity, while being sure any of the payables doesn’t turn into debt.

Savings in Human Resource Cost

Our pricing as compare to hiring house resources or external CPA is far more cost-effective.

Continuous Tracking

We make sure your payable dues are cleared on time and providing you the advantage of discount in most cases.

Error Free

With the help of high-end accounts payable automation, your outsourced partner makes sure it is minimal, or zero error involve.

Advantages Offered by Whiz Consulting

Whiz Consulting finds its place amongst one of the top accounts payable outsourcing companies. Whether you are based in Australia, USA, UK, India or other part of the world, we can provide you excellent accounts payable service for your business. Here are a few of the advantages you will get with Whiz Consulting -

Timely payment of invoices

Monthly, quarterly, and annual reports

Adhere to SOX compliance

Confidentiality of data shared

Cross-examining checks issued with the paid invoice

Experts without incurring overhead costs

Safe and secure 24/7 web access

No capital investment on expensive software

Digitisation of Accounts Payable paperwork

Frequently Asked Questions (FAQs)

1. What is Accounts Payable?

When businesses purchases goods or services from their suppliers on credit, the amount payable forms a part of accounts payable. Accounts payable is a liability for your business. It is inevitable for a business to make purchases on credit at one point or another. The payment is made within the agreed upon period, typically less than 90 days.

2. How is Accounts Payable processed?

Accounts payables process involves four steps – acknowledging the invoice, approval of invoice, authorisation of payment, and lastly, payment execution. While it might sound easy and simple, when the number of suppliers and number of transactions is high, you might have issues processing accounts payable on time.

3. Why should you automate accounts payable?

Automating your accounts payable has a number of benefits. One main reason is to focus on core business activity and abide by audit regulations. As your business grows, you will have to increase the complexity in accounts payable tasks- which can be a burden. When you automate your accounts payable, however, you will have more time to focus on what really matters- while having peace of mind when it comes to suppliers.

Bookkeeping & Accounting solution online

Improve business cash flow with Advanced Accounts Payable Services