AP & AR OUTSOURCING
The accounts payable and receivable service is a huge asset to all of our subscribed clients. Our team of experienced and certified accountants has a knack for keeping their eye on the ball and not letting anything slips through the cracks which guarantees all bills are paid on time. In addition to paying bills, our clients never have to chase down payments since we also stay on top of the accounts receivable. Attention to detail is just one of the many positive traits that our clients use to describe our accounts payable and receivable service.
AP & AR Services Included:
- Payable Services:
- Invoice Management – We process all invoices that are sent to our clients. All questions regarding items, prices or general information about the invoices will be clarified by our team. Before payment is approved we verify all data on each invoice to ensure the correct total, the item listed, date, vendor, invoice number, etc.
- Reporting – Reports of all transactions are generated monthly, quarterly and annually. Reports include all previous payments to each vendor along with the description and invoice number. Client invoices combined with the payroll and other expenditures allows us to provide the accurate reporting of all expenses generated by the company.
- Recording – Records of post business transactions, invoices processed, payroll distribution along with other financial data is securely stored on our database. All transactions and correspondence from the beginning can quickly be retrieved at our client’s request.
- Receivable Services:
- Debt Collections – Our team of accountants and collections personnel verify the delinquency of accounts and solicit payments on overdue debts. We compile all documents needed to prepare and post invoices and debit memos.
- Banking – We prepare customer statements, bills and invoices and reconcile expenses to our client’s ledger. Our accounting team will make copies of all checks and deposits to verify details of transactions like funds received and total account balances.
- Reporting – Reports of all transactions are generated monthly, quarterly and annually. Reports include all previous payments received along with the description and amounts. Our 100% accurate receivable tracking allows us to provide accurate reporting of all income generated by the company.
How it Works?
We are able to seamlessly take over all payable and receivable transactions of our clients by using advanced cloud technology. After getting a quick breakdown of the company’s financial operation we are able to immediately implement our efficient accounting system. Every deposit and expense is triple checked for accuracy and safely stored in our secure database that maintains a record of every financial transaction processed. This makes it super easy for our clients to track their income and expenses which prevents loss of money and unnecessary spending. This flawless record of transactions is most appreciated by our clients during tax time or while going through the numerous types of audits since everything is saved in one spot. We are the leaders in the industry when it comes to efficient control of expenses and receiving payments.
We have flat monthly rates for our accounts payable and receivable service that takes into consideration the number of hours required to complete everything involved for the month. Every client is different in regards to their requirements like number of customers, vendors, the complexity of invoices, number of accounts, etc. In general, we charge $9/hr for our accounts payable and receivable service that takes care of all financial documentation dealing with income and expenses. Based on the client’s initial requirements, we are able to convert this $9/hr to a monthly flat rate that covers the entire AP / AR service and will not change without receiving any additional requirements from the client.