Accounts Payable Services are critical for the smooth functioning and seamless operations of any business. Along with Accounts Receivable, Accounts Payable Services play a foundational role in optimizing cash flow and working capital for any business.
Yet most businesses seem to falter in the Accounts Payable either due to reliance on manual and conventional Accounts Payable Process, lack of expertise in Accounts Payable, sometimes both. As a result, businesses face cash flow and working capital problems which over time can develop into a cash crunch disrupting the balance entire ecosystem.
Poor data entry, disappearing and overlooked Invoices, inconsistent and slow processing, fraud and financial discrepancies – the list of problems faced by businesses with inefficient Accounts Payable process doesn’t end. If you are a small, medium or large business facing similar Accounts Payable problems and are looking to outsource Accounts Payable Services then you have come to the right place.
Back Office Accountants is an expert remote accounting firm that has been consistently providing the best Accounts Payable Services for small, medium and large businesses across versatile industries.
Accounts Payable Services by Back Office Accountants
Equipped with a team of certified Accountants and Accounts Payable experts, Back Office Accountants is the best remote accounting firm for businesses looking for Outsourced Accounts Payable Services.
Our Accounts Payable experts are thoroughly experienced in a wide variety of industries which aides us craft customized and tailored AP workflow processes from the ground up. At Back Office Accountants we perfectly blend our AP expertise and industry knowledge with the sophistication offered by advanced AP software and tools to solve common AP problems faced by businesses.
Based on your AP requirements, we can address your need gaps and help improve your AP processor can also build a customized Accounts Payable Process.
Here’s a common outline of our Accounts Payable process
- Invoices received by the Business (hereinafter referred as Client) from their vendors are scanned and shared with Back Office Accounting Specialists.
- On the receipt of Invoices, we shall make processing of Invoices Received on a Daily/ Weekly basis as per Client’s Instructions.
- We shall send a report of Open Vendors. You will mark the invoices to be paid or will pay it from your end, as the case may.
- We shall set up the payments in Accounting Software, as per instructions at Step 3 above.
- There shall be 2 options for printing checks.
- Client opens the accounting software and prints the checks (ready to print) on their printer.
- Back Office Accounting Specialists print a pdf file of checks to print and share with the Client. The client prints it on their computer.
- In both the above cases, checks are signed and mailed from the Client’s Office under the Client’s full control.
The above process is only a simple outline of our most generic process which over the years was extended into a full-scale end-to-end Accounts Payable process for all types of businesses.
Offering a standard AP workflow process since then, we have been providing comprehensive Accounts Payable Services for Real Estate and Restaurant Businesses for years now. Some of the benefits accrued by businesses that outsource Accounts Payable Services to us are as follows.
Benefits of Outsourcing Accounts Payable to Back Office Accountants
Standard Accounts Payable Process
With Back Office Accountants, you leverage the expertise and experience of the industry-best Accountants payable experts who help you chart a standardized Accounts Payable process. Having a seamless and standardized Accounts Payable process helps you get more work done in fewer times with better accuracy and control.
Access to Advanced Technology Stack
Accounting software and tools improve accuracy and get more work in less time. Not every business can afford the latest Accounting tools and most times it may not be practical when it comes to Accounts Payable Services for small businesses. At Back Office Accountants we are equipped with all the advanced tools and resources which our accounts payable experts leverage to provide the best accounts payable services for your accounting department.
Customized Accounts Payable Process
Many factors come into play when crafting an Accounts Payable process to enable a healthy cash flow. For a business to achieve its cash flow goals both AR and AP must be customized based on the industry and this is where Back Office Accountants revel.
With years of experience in providing Accounts Payable Services in all types of businesses our Accounts, Payable experts can provide tailored and customized Accounts Payable Services. We today offer dedicated full-fledged Accounts Payable Services for Restaurants, Real Estate and all types of small, medium and large businesses.
Why Back Office Accountants?
- High accuracy streamlined process – Leveraging advanced tools our dedicated Accounts Usable experts reduce the errors and ensure high accuracy.
- Greater control and visibility: No losing track of invoices, overlooking or penalties. Our standard procedure managed by dedicated experts provides you with greater control over your AP process. With on-time reporting, you have greater visibility on paid and open invoices and the overall status of each aspect in the workflow.
- Improved security: Our robust and streamlined process aided by sophisticated security tools, provide secure Accounts Payable Services that eliminate the risk of payment fraud and financial discrepancies.
- Fast turnaround times: With a fast, accurate and streamlined Accounts payable process executed by dedicated AP experts, you are always a step ahead.
- Significantly reduced costs – No additional costs of hiring a team. Every penny you spend will be directed towards charting executing and improving your Accounts Payable process.
- Superior ROI – You pay for only what you need. Reduced costs, improved accuracy and productivity leads to superior ROI in every aspect.
So whether you are small, medium or large business, if you are looking to outsource Accounts Payable Services to improve your AP performance at a reduced cost while enhancing your overall productivity just give us a call. You can find our information here.