In financial accounting, accounts payable is the amount a business entity has to pay to its vendors against the goods and services received. In simple terms, it is the sum of all outstanding dues that your company owes to the vendors and suppliers for their services. It’s essential that the company keep a proper record of all these liabilities in its accounts books and make the payments on the basis of the invoices.
Vendor & Account payables management is a process of effectively streamlining the payable obligations. Once the vendors are paid in full, the amount gets deducted from the payable balance. The process entails receiving the invoices, thoroughly checking the details on the invoices, keeping a record of the payables, and releasing payments in time.
Benefits of properly managed account payables:
How can TaxAccountPro help you with your account payables management needs?
TaxAccountPro is a leading accounting and bookkeeping services provider with a global presence. Our experts can help you manage your payable account at a regular interval and prevent penalties on non-payments.
We provide the following solutions:
Why do you need TaxAccountPro Services?
Time Benefit – Allows to plan round-the-clock operations.
Cost-Benefit – Lower cost of operations by 40%.
Staff Benefit – Right Level staff for different requirements.
Business Benefit – Save on Infrastructure and Technology for outsourced staff.
If you need a fast, accurate tax professional to prepare your tax return this year give us a call today at +1 (315) 644-2677