|
|
Accounts Payable (AP)
In most organizations accounts payable procedures are frequently not managed to world-class standards owing to the time and expense necessary to implement best practices. Accounts payable department in Heka Support Services ensures that official invoices are booked and paid accurately.
Our services and solutions integrate and manage supplier-facing processes including supplier maintenance, supplier network management, invoice receipt, pre-process validation, invoice processing, exception resolution, query responses, reporting and payment processing. By taking control of these customer-facing functions, Heka Support Services Accounts Payable ensures integrated process execution that is steered by a closed-loop management process backed by strong consulting and implementation expertise.
Outsourcing your accounts payable automation tasks can bring better profits including:
- High Accuracy
- Superior Quality
- Real-time Tracking and Reporting
- Reduced Annual Accounts Payable Ledger Costs
- Centralized Control over Payables across the Enterprise, despite of the actual physical location
Process for Accounts payable: Even so there may possibly be many benefits to outsourcing accounting. But careful selection of service provider is critical to make the method work as high quality of services is the utmost factor. Accounts payable process includes the following steps and quality check in Heka support Services:
- Invoices Send to Heka Support Services:
- Recommended Practice: After receiving goods/services from vendor, he would send the invoice to client which later on would be forwarded to Heka Support Services in softcopy.
- 1st Quality Check:
- Recommended Practice: Received invoices scanned for duplication or wrong invoice
- Potential Delays and Problems: If accounts payable department find any error on invoice like duplication or wrong invoice it is forwarded to purchasing department for further verification.
- Segregate invoices according to their nature (With Purchase order/ without Purchase order):
- With Purchase order:
- Recommended Practice: In Heka Support Services accounts payable department check Purchase order information with information mentioned over invoice and match accordingly
- Potential Delays and Problems: there can be following reason for delay
- Purchase order number not mentioned over invoice
- Mentioned purchase order number belongs to any other supplier
- Mentioned purchase order number is not approved
- Goods are not yet received for mentioned purchase order number
- Purchase order amount and invoice amount have difference.
- Without Purchase order:
- Recommended Practice: Accounts payable department will ask for a valid expense account number and cost
centre to book invoice in accounting software.
- Potential Delays and Problems: Supplier in not yet created in accounting software or there is any issue with received account number or cost
centre.
- Invoice booked in accounting software:
- Recommended Practice: subsequent to above steps accounts payable invoice is booked into accounting software.
- Potential Delays and Problems: In case of any issue the accounts payable department directly escalates the problem to higher authorities and purchasing department and do not process the invoice until approved by concerned department.
- Approval for Payment :
- Recommended Practice: now, booked invoices are available for payment in accounting software according to the due date for accounts payable or treasury department. The payment is being made only on approval of concerned department.
- Potential Delays and Problems: If instructed by higher authorities regarding any invoice to book in to accounting software but not to make available for payment due to any issue with supplier services, the accounts payable department put a payment hold in accounting software accordingly and does not release it until it gets approved.
The above mentioned steps can be increased or decreased to deliver best quality to customer’s.
|
|
|
