Minimize liabilities and the risk it poses to your business and its growth by making timely payments before the pay-by date at affordable rates
When business accounts are undermanaged, it is usually when they lose track of expenditures, pay-by dates, and vendors in the contract. If your business is overwhelmed by large billing volumes, purchase orders, and other accounts payable functions over which you have too little control, it's time to ring Global Accounting Corp. What we mean to say is outsourcing accounts payable services helps you get back into compliance and avoid expenses from doubling. At GAC, We want you to take advantage of our accounts payable solutions so your undermanaged process can be converted into a system that's looked after by certified accountants. We are often recommended as the best accounts payable service provider because our deliverables have always been highly regulated, causing our clients to feel satisfied with what we do.
As an ISO 9001:2015 certified accounts payable service providing company, we follow the process that parallels the approach prescribed by the regulatory bodies and local governments to ensure you have control of the process through segmentation of duties.
Managing large billing volumes without process control could make it difficult to establish the existence of invoices and supporting documentation. This increases the cost of audit as auditors might be prompted to increase sample size till the paperwork satisfy. So to reduce the burden of proof submission, it's best to outsource accounts payable services.
Our online accounts payable services encompass -
We track down supplier invoices to collect proof of service and purchase orders. We segment duties among teams to ensure all dots are connected to establish a paper trail from one end to another. In doing so, your business accounting platform will have reports that are presentable at audits.
We verify and approve supplier bills after matching them with valid receipts and purchase orders. Our team of accounts payable professionals handles the entire invoice cycle on your behalf starting with vendor invoice capture, preparation, dispatching invoices to approvers, payment processing, and archiving.
With deep expertise in accounts payable services, we will evaluate if vendors aren't paid in time. We will quote payment terms to actively follow-up on escalations so that payables can be closed at the latest date. Our expertise helps you catch lapses such as issuing PO without a budget, accepting services without authorization, lost proof of delivery against supplier bill, mismatch in invoiced items, incorrect billing.
We keep track of the amount payable to vendors to make you eligible for discounts. Our team will prompt you to make early clearance of supplier invoices to score discounts set aside for prepaying clients. We will utilize the documentary credits for direct account payments on being authorized by your bank.
Preparing instruction for Funds Escrow Agreement is a complex task. You must follow-up periodically to ensure that the instructions are carefully prepared and executed to clear supplier payments via direct transfer, check, or other agreed-upon methods post recognition of approval via signature capture.
Updating debit and credit notes of customer and vendor accounts encompass PO payments in supplier and client accounts. This information must be kept up-to-date for effective management of accounts payable records. Our accountants will monitor and update purchase and sales books upon realization of transactions.
Maintaining KPIs of vendor's account payable by reading and analyzing their request activity is crucial for tracking payment cycles. We will understand the KPIs from records to improve the process, identify buggy practices, and help your accounts payable become efficient. Additionally, we also prepare accounts statements of vendors to follow-up reconciled transactions.
At Global Accounting Corp, our accountants will match records namely statements, ledgers, and other payment notes to arrive at balanced values if all transactions align. Else, we will flag dubious payments and those that remain outstanding for further inquiry.
Sometimes due to buggy data entry or questionable practices, there could be unbilled PO commitments that pinch buyers and this can dent the quality of business dealings. To ensure there is no scope for such mistakes, unbilled orders are tracked and flagged so the promised services can reach buyers on time.
We capture all summarized records of payments owed to vendors for ease of tracing transactions and record-keeping to improve compliance. Our account summaries help you maintain trustworthy account systems that are fundamentally strong.
If there is no way to dedicate your resources for intricate records management anent the purchases and pricing trends, we can do it for you. This relieves you from the stress of staying up-to-date. That way you can stay on top of PO statements and current prices for better management of inventory.
When you outsource accounts payable services to us, we can take care of all your accounting needs, even the ones not mentioned above. Contact us for your custom requirements.
At Global Accounting Corp, resolving account delinquencies most efficiently is what brings us face to face with some of the best there is. Our accounting teams have demonstrable skills in the accounts payable process and understand how small businesses struggle to cope with the day-to-day challenges. Our process is as follows -
The first step is taken by the buyer by creating a PO outlining their exact needs and how the itemized content should be delivered. This information is made visible to both ends of the system
We will ensure that the buyer receives the promised deliverables or goods from the vendor per the itemized order
In the back end, we will capture the invoice and register the data into the accounting system to maintain transparency at both ends. We also match the PO with the dispatched consignment
We will compare the itemized bill and match the receipts. All taxes and deductibles are computed and matched per the record
We will keep a tab of payables and ensure the payment is completed within the stipulated time. We will automate reminders to keep vendors reminded about the dues
We will compare the account books and bank statements to ensure both ends match and there are no differences that require rectification
A powerful cash flow mechanism was developed by GAC for a client to regulate transactions and documentation of invoices, delivery receipts, bill of lading, etc.
Back-office billing support from GAC reconciled paperwork for a reputed law firm. Deliverables such as raising requests and posting AR to closing accounts were effectively handled.
Liabilities can weigh you down causing your entire financial department to walk the tightrope when audits begin. So don't wait till it's too late. When in doubt, talk to experts at Global Accounting Corp to know what POs are on credit and how much of the outstanding dues are pending in the system. Our team of certified accountants can get all transactions made visible to both ends in the system for maximum transparency so that the positions can be closed at the earliest. Global Accounting Corp has over 19 years of experience in a range of Accounts Payable services and have a loyal client base in 170+ countries globally. Our awareness of the prevailing practices and the latest laws can keep your small business accounts clean in the auditor's eyes.
Get in touch with us today if you're ready to take the next step towards innovation and automation in accounts payable management and compliance.
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