Outsource your accounts payable department. Companies that prioritize accounts payable use automated systems and research-proven best practices to deliver satisfactory and timely payments every single time.
Properly conducted audits are critical for the performance of your accounting department and the health of your company as a whole. Using the right AP procedures ensures the finance department is accurate, transparent, and highly efficient.
Having an automated accounting system is now considered a must-have for larger companies that deal with thousands of transactions a day, but it’s a relatively well-kept secret when it comes to smaller and medium-sized businesses.
The AP process starts when the accounts payable department receives an invoice. Invoices can arrive through a huge variety of different methods, including electronic invoices, physical mail, fax and many other possibilities.