Accounts Payable Outsourcing | Accounts Payable Automation in USA

Curb all your Payables with Accounts Payable Services

Business relies heavily on credit that suppliers offer. Suppliers provide this credit for a certain period, and you might avail of some discount if you are paying off this credit before the due date; this forms your accounts payable. It helps businesses operate by saving its fund for other expenses and allowing the business some time to pay back to suppliers, presumably after the final product or service sale. There is a cash rotation that is happening in this process which assists a business to function smoothly.

The need for accounts payable services arises as these payables have to be paid off on time. As much as tempting it is to delay these payments, it is not suggested to do so, as it only gives a sense of having more funds in hand, but accounts payable can turn into bad debt over time. We at Whiz Consulting provide accounts payable outsourcing services for businesses based in the United States (US), and we prepare a daily, weekly, or biweekly report as per the requirement of the business. We offer efficient online accounts payable services and help improve cash flow and maintain your vendor relationships. It is imperative that you do not breach payment terms with your suppliers, impacting your business reputation. We will help you focus on other vital functions allowing you to grow your business while taking care of all payments, creditors, invoices and massive paperwork.

Our Accounts Payable Automation Services

We at Whiz Consulting offer outsource accounts payable services to all forms of business irrespective of the industry. Whether you want to outsource accounts payable in San Francisco, New York City, Miami, Denver and other USA parts, we are here to help you. We prepare a daily, weekly, or biweekly report as per the need of your business. We make use of our vast experience and in-depth knowledge while performing accounts payable tasks for you to help you grow your business and enhance your business’s financial health. With our comprehensive virtual accounts payable services, we provide the following services:

Data Capture

We help you reduce your paper load by performing the following -

  • Sorting
  • Preparation of batches
  • Indexing the documents
  • Auditing and the reconciliation of all the scanned invoices
  • Storage of documents and retrieval
  • Processing and receiving the incoming mail

Data Processing

Resolution and proactive management of the exception transactions. This is inclusive of-

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

Suspect Duplicate Analysis

We help by implementing a controlling and auditing mechanism to detect and eliminate duplication by providing the following service -

  • 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 timely to minimise the floating cost administered upon the customers.

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

Additional Services

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

Benefits of Outsourced Accounts Payable Service

Outsource accounts payable service has benefits, and you must hire one because of the following reason –

Efficiency

Your outsource partner will handle your accounts payable task while you can focus on other tasks crucial for the operation of the business.

Cost

Accounts Payable reduces your dependency on an employee for a particular function, thus helping you to reduce overhead costs.

Tracking

Outsource partner continuously tracks your payable dues and make sure they are cleared on time.

Error Free

Outsource partners make use of high-end accounts payable automation ensuring minimal or zero error.

Why Partner with Us for Accounts Payable Service?

If you are in search of accounts payable services providers for your business and have finalised to outsource your accounts payable functions, here are a few reasons why you should choose us –

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Timely Invoices Payment
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Regular Interval Reports
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Compliant with all Legislations
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Confidentiality of data shared
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Examining every paid invoice and issued checks
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Expert consultancy at a fraction of cost
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Confidentiality of data shared
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No capital investment on purchase of costly software
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Digitisation of hardcopies related to Accounts Payable

FAQ's

1. What does accounts payable mean?

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. What is an accounts payable service, and how is it beneficial?

The accounts payable process can be taken by an outsourcing partner like any other accounting process. All the services provided by such provider that help in accounts payable process all comes under accounts payable services.
Accounts payable outsource process can be very highly beneficial to businesses with a high volume of transactions. Tracking all these transactions and ensuring everything has been paid off on time can be a hassle for many business owners. Having a accounts payable services company that helps you with the accounts payable process can help you streamline your cash flow while maintaining a good vendor supplier relationship.

3. What is the difference between accounts receivable and accounts payable?

Accounts payable and accounts receivable difference is as simple as what we can understand from their names. Accounts payable is the account of money that you owe, which you need to pay, while accounts receivable is the account of money your customer owes to you, which you will receive.
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