Accounts payable and Receivables
Accounts Payable and Receivables services in accounting companies implies specialized services provided to help businesses in dealing their payable and receivable transactions effectively. These services involve the recording, tracking, and reconciliation of vendor invoices, payments, outstanding balances, customer invoices, payments, and outstanding balances. The goal is to assure accurate financial records, prompt payments, efficient collections, and improved cash flow management.
The Accounts Payable and Receivables services offered by accounting companies typically include the following:
1. Accounts Payable Services:
- Recording and categorizing vendor invoices and bills.
- Verifying and matching invoices with purchase orders or contracts.
- Accurate and timely payment processing
- Reconciliation of vendor statements and resolving discrepancies
- Maintaining up-to-date records of outstanding payables
- Generating reports on accounts payable status and aging
2. Accounts Receivable Services:
- Preparing and issuing customer invoices and statements.
- Recording and tracking customer payments and receipts.
- Timely follow-up on overdue payments.
- Resolving customer payment discrepancies and queries.
- Reconciliation of customer accounts and statements.
- Generating reports on accounts receivable status and aging.
By outsourcing Accounts Payable and Receivables services to a reputed accounting company like PROFITZ ADVISORY, located in Q1-06-105/A, SAIF ZONE, Sharjah – UAE, your businesses can benefit from professional expertise and effective management of these critical financial functions. We offer many accounting services, including accounts payable and receivables management, as part of their range of accounting and bookkeeping, corporate tax, audit and assurance,VAT, payroll and financial consulting services.