Accounts Receivables & Payable Services
Our managed accounts receivable and accounts payable outsourcing services boost profitability by strategically managing AR and AP cycles with advanced tools. We ensure precise records of checks, deposits, and balances for accounts receivable, and meticulously verify invoices, statements, and debts for accuracy. Accounts payable outsourcing streamlines invoice management with rigorous checks, resolving issues like budget discrepancies and billing errors to maintain reliability.
Finalytics provides Accounts Receivable and Accounts Payable outsourcing services, crucial for managing vendors, customers, payment terms, and cash flow effectively. Continuous monitoring of income and investments ensures a satisfying experience for all stakeholders.
Scope Of Accounts Receivable Outsourcing Services:
- Creating invoices based on product/service delivery and estimates
- Updating invoices in the systems
- Timely updating of accounts receivable details
- Regular communication for receivables collection
- Updating accounts receivables ledger upon receipt
- Recording advances received and receipts against credit sales
- Addressing incomplete payments by raising appropriate queries
- Preparing account statements and informing clients for reconciliation
- Notifying clients or stakeholders of discrepancies in account statement reconciliations
- Performing various accounts receivable analyses including aging analysis, business segment analysis, customer area analysis, etc.
- Predicting cash flow based on outstanding receivables
Scope Of Accounts Payable Outsourcing Services :
- Updating accounting systems based on purchase orders, bills, and goods receipt notes
- Analyzing vendor approvals through follow-ups with vendors and purchase orders
- Resolving issues related to:
- Unauthorized or non-budgeted purchase orders
- Unauthorized receipt of goods or services
- Non-receipt of goods or services against vendors' invoices
- Mismatching of vendors' bills with purchase orders
- Computational errors in vendors' bills
- Posting vendors' bills onto the accounting system
- Providing advice on early payment opportunities and available discounts
- Drafting payment instructions for due payments
- Drafting credit and debit notes, as well as vendor account statements
- Reconciling vendor account statements
- Timely reporting on outstanding purchase order commitments, unpaid supplies, etc.
- Analysis of payables aging, segment analysis, etc.
- Analyzing vendors' purchase history and price trends
Hire Dedicated AR/AP Executives
You can choose a dedicated hiring model by bringing on an AR/AP executive. This Accounts Payable/Receivable Executive will oversee all activities within the accounts payable/receivable function. Their responsibilities include managing collection efforts, such as sending follow-up inquiries, negotiating with overdue accounts, and referring accounts to collection agencies. By hiring AR/AP Executives, you can redirect your in-house team to focus on other critical tasks that require immediate attention.
Hire AR/AP Executive
Examination of various accounts receivable aspects, such as customer regions, business segments, aging analysis, and additional factors.
Routine reporting on a variety of accounts payable, including outstanding purchase order commitments, early payments, vendor invoices, vendor account statements, and other related items.
Precise management of accounts receivable statements, ensuring accurate record keeping of received payments, advances, cash against credit sales, and other related transactions.
Reconciliation of discrepancies between credit and debit records, bills and purchase orders, unauthorized goods invoices, and other related issues.
Precise cash flow forecasting, incorporating outstanding payables and receivables, to support informed financial decision-making.
Outsource your AR/AP functions to Finalytics and free yourself from the ongoing hassle.
Join us and make the right money move.