Keeping vendors happy, ensuring timely and accurate payment runs are integral to a company’s supply chain and procurement functions. If cashflow is not an issue, and you are still not keeping your key vendors happy, it could be detrimental to your business. Vendors are only one part of the equation; Our team can efficiently record and track Employee Reimbursements, Corporate Credit Cards, Clearing Accounts (bill.com, rippling etc). Additionally, our team can class, reclass and allocate these expenses to the appropriate cost centres and/or departments which ultimately aids the budgeting process. Here’s what we can do for your Accounts Payable processes :
- Invoice verifications. 2,3 & 4-way matchings against GRNs, POs & IRs.
- Preparing payment runs cyclically and routinely, for approval as per payment terms of different invoices and/or vendors.
- Record and process reversals and refunds.
- Debit memo processing
- Reconcile payments after payment runs
- Updating and maintaining Vendor Master Lists
- Vendor sub-GL Reconciliations
- Monthly AP Ledger Reconciliations & Closing
- Recording employee charges (T&E and others)
- Cost Centre Allocations & Reconciliations
- Standard Pricing List/Information Cross-Checking
- Vendor Management, Mapping & Reconciliation
- Clearing Accounts (bill.com & rippling) Reconciliations
- Spend Management: Exception queues, AP support & ticketing, payment inquiries
- Vendor payments voiding and reissue