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Thursday, 11 December 2008 22:08
Many individuals and small businesses consider accounts payable to be the least important aspect of all accounting functions. Who can blame them? There is no fun in paying bills!

We consider the accounts payable function to be important due to the following reasons:
  • It affects the credit rating of your business and the ability to borrow money
  • Up to date accounts payable makes it easy to anticipate short term cash requirements
  • It shows the true worth of your business if the liability to your vendors is recorded accurately
  • Risk of overpayments or duplicate payments
  • Uninterrupted flow of supplies and services
  • In case of an audit it is important to have supporting documents for all your expenses

Services we offer:
  • Cash management
  • Expense administration - ensuring proper documentation for expense reports per IRS guidelines
  • Data entry of vendor invoices and aging reports
  • Electronic payments eliminating the need to write and mail checks
  • Scanning of paid invoices - no need to file invoices
  • Vendor inquiries
  • Sales and use tax returns
  • Issuance of 1099s at year end
  • Auditing internal controls
Last Updated ( Thursday, 19 March 2009 01:25 )
 
 
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