Accounts Payable
Companies today are continually being challenged to reduce costs, extract the most value possible from their expenditures, and meet complex regulatory requirements. Al Kanz Al Muthmer consult’s innovative and flexible Accounts Payable Services provide customers with the ability to transform their accounts payable processes into an automated system which is driven by business rules, resulting in lower processing costs, improved controls, higher service levels and higher business intelligence. These services have been developed by API based on its extensive process experience and deep understanding of customers needs across industries. The integration of multiple technologies provides customers with accounts payable services which are quick to implement, dependable, flexible and cost efficient. API provides customers with innovative and comprehensive accounts payable services which are second to none within the industry.
Accounts Payable Services
Al Kanz Al Muthmer consults Accounts Payable Services aid in our customers success by providing them with key benefits, including:
- Transforming the A/P department into Profit Center
- Lowering Processing Costs & Increasing Productivity
- 100% Invoice Visibility within 24 Hours
- Faster approvals, Faster Period closes, and providing detailed accrual reports
- Improved Regulatory/SSAE 16 Compliance and Internal Controls
- Better Management of DPCompanies today are continually being challenged to reduce costs, extract the most value possible from their expenditures, and meet complex regulatory requirements. Al Kanz Al Muthmer consult’s innovative and flexible Accounts Payable Services provide customers with the ability to transform their accounts payable processes into an automated system which is driven by business rules, resulting in lower processing costs, improved controls, higher service levels and higher business intelligence. These services have been developed by API based on its extensive process experience and deep understanding of customers needs across industries. The integration of multiple technologies provides customers with accounts payable services which are quick to implement, dependable, flexible and cost efficient. API provides customers with innovative and comprehensive accounts payable services which are second to none within the industry.
Key Benefits of Our Accounts Payable Services
- Transforming the A/P department into Profit Center
- Lowering Processing Costs & Increasing Productivity
- 100% Invoice Visibility within 24 Hours
- Faster approvals, Faster Period closes, and providing detailed accrual reports
- Improved Regulatory/SSAE 16 Compliance and Internal Controls
- Better Management of DPO to Increase Working Capital
- Our Accounts Payable Services speed-up the accounts payable approval process and provides proper documentation and audit trails. Customers have early visibility of invoices which improves the ability to accurately accrue expense. Processes driven by business rules standardize business processes and ensure compliance. Invoices and supporting documents are efficiently archived on Al Kanz Al Muthmer consults DocArchive Service to ensure meeting specific regulatory retention requirements.
- Our Accounts Payable Service is an implementation and delivery service which can be setup with 24 hour or 48 hour turn times which meet customer’s requirements.
Accounts Payable Outsourcing Service
To survive in today’s era of competitive markets and industries, a successful business understands the need of improving their processes on a regular basis. Being able to save or minimize costs and expenses while maintaining the product quality is a salient feature of every successful business and improving the business processes is an intelligent way of doing just that.
Now you can outsource such an appalling task as accounts payable processing and fixate your time and attention on running the business. Our competent and qualified accountant team at A&A Associate provides accounts payable processing services on a weekly, monthly and yearly basis depending on the frequency of your transactions.
Even though it’s scary to entrust a third party with all the crucial data regarding your creditors, hiring the right firm for accounts payable process would result in effective returns.
Accounts Payable Processing:
Accounts payable arise when you purchase goods on credit i.e. goods are purchased and even sold out but the payment to the supplier is made at a later point in the future. The entire procedure that takes place from issuance of order till payment to the supplier is known as the accounts payable process. This process is prone to errors and can become wearisome if it’s being supervised by an unprofessional team and hence, we have come up with the best solution for you.
Our experienced team at Al Kanz Al Muthmer consults
will come up with a well-suited accounts payable service customized only for you. Each business has a different set of needs and requirements to be catered for and with years of experience in the field, our qualified team will know just what you need. We will assist you in simplifying the procedure as well as reduce your purchase cost to the minimum.
A&A Associate also provide ;
- Accounting & Financial Reporting
- Accounting Supervision
- Payroll Service
What services will be provided?
- Payable workflow setup: Accounting software will be setup that will manage all your accounts payables. All the purchases transactions and creditor details will be entered into the system at each visit. The system will be able to track approval of orders and due dates for payments etc.
- Vendor management: Digital copies of all your documents will be uploaded on the accounting software after being collected from their respective departments. Vendors’ information such as the name, address and payment terms will be entered as well as the default general ledger for the expenses to which the creditor belongs.
- Employee expense processing: All the expenses incurred by the employees will be documented through collection of receipts of such expenses along with a list. These expenses will be entered into the system as well and will be paid according to their due dates.
- Generation of reports: MIS reports, accounts payable ageing lists and other reports will be prepared by our team analyzing how your payables could be managed in a better way.
- Discussion with management: The conceived reports will be discussed with the management. Our team will guide you strategies and tactics on avoiding double payments or late payments; reducing purchase costs in general.
By hiring Al Kanz Al Muthmer consults
for your accounts payable processing, you will not only save a lot of time but also money. We will devise a system that would be the most suitable for your entity.