Accounts Payable

Beyond Accounting understands that while making payments efficient, cost-effective and accurate are pivotal to every well-managed account payable function in the organization, supplier and vendor satisfaction is measured by the ease of process offered in handling invoices and turnaround time for payment. Keeping the above concept in mind, our accounts payable service aims at striking a balance between process optimization and supplier satisfaction.

An Overview of Our Accounts Payable Solutions:

  • Accounting system's updates through:
  • - Invoices from suppliers
  • - Evidence regarding services/goods receipt
  • - Purchase orders
  • Invoice Processing Services: Verification and approval of bills from suppliers, after matching with services/goods receipts and purchase orders.
  • Escalation or alerts for instances related to:
  • - Issuance of purchase orders without budget or authority
  • - Acceptance of services/goods by persons who are not appropriately designated
  • - No evidence of services/goods delivery against supplier bills
  • - Vendor purchase orders not matching supplier bills
  • - Incorrectly computed supplier bills
  • Resolution of open issues through follow-up of escalations/alerts
  • Updating of the system for accounts payable by processing supplier bills
  • Recommendation of early payment of supplier invoices where attractive cash discounts are available
  • Usage of documentary credits for 'account direct' payments on the basis of advice from your bank
  • Preparation of instructions for disbursements of supplier payments due through checks or direct transfer, following treasury approval, followed by transmission for dispatch after signature
  • Preparation of credit or debit notes wherever required
  • Maintenance of records for accounts payable
  • Preparation of vendor account statements
  • Reconciliation of vendor account statements with your books
  • Analysis of unbilled supplies, open PO commitments etc
  • Provision of summaries (by age, segment, etc.) of amounts you owe your vendors
  • Analysis of supplier price trends and purchase history

Why Choose Beyond Accounting?

Besides backend of accounts payable solutions, we distinguish ourselves from our competition by:

  • Not requiring any capital investment while substantially reducing processing costs for accounts payable
  • Efficient access to historical and current documents to reduce external and internal audit costs
  • Integration with enterprise-wide financial and legacy systems
  • Digitization of paper invoices for immediate access and to provide faster resolution of disputes and audit streamlining
  • Automation of travel and other expenses