• Invoice Verification
• Payment to Vendors
• Reporting

Pain points faced by Companies:

• Delay in Payment to Vendors
• The error of Judgement while deducting TDS on Vendor Payments
• Absence of real-time status about pending Bills
• Absence of real-time tracking of unposted Bills
• Incorrect payments to vendors

Scope of our services:

• Checking of documents received on various parameters i.e. P.O. terms, Service tax Credit, etc. through a checklist
• Correct deduction of withholding tax i.e. TDS, Work Contract Tax
• Bill wise recording in the accounting software along with detailed narration.
• Profit/Cost center wise recording of expenses
• Processing of bills for payment as per agreed credit period based on complete documentation.
• Generation of various reports i.e. Aging Schedule, Bill-wise outstanding report.
• Employ checks and balances to ensure internal control.
• Contractual staff payment and taxation compliance thereon.
• Update masters relating to accounts payable.
• Keeping track of the validity of agreements.
• Preparation of audit schedules and other desired details

Reports related to Accounts Payable:

• Aging schedule
• Real-time access to pending bills along with reasons
• Master provisioning report for making and reversal of provisions
• Bill wise outstanding report of vendors
• Report about vendors whose agreement/contract are about to expire