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Accounts Payable Outsourcing Services For PAK Based Business
In today’s competitive landscape, managing accounts payable is both challenging and essential for maintaining accurate financial records. Timely accounts payable ensures that your financial statements accurately reflect your business’s true income and expenses. Delayed payments can lead to increased liabilities, potential bad debts, and negatively impact your financial health and supplier relationships.
Accounts payable involves credit extended by suppliers, allowing businesses to defer payment for goods or services. However, failing to meet these obligations on time can result in missed discounts and strained supplier relationships, affecting your business operations.
At TaxPeak, we provide outsourced accounts payable services tailored for businesses across Pakistan, including Karachi, Lahore, Islamabad, and beyond. Our services are designed for companies of all sizes and industries, ensuring efficient management of payments, creditors, invoices, and related paperwork.
Our Accounts Payable Services
Our comprehensive end-to-end accounts payable process includes the following:
Data Capture
Data capture and management from paper-based documents. It is inclusive of the following –
- Sorting
- Preparation of Batches
- Indexing Documents
- Auditing and the reconciliation of all the scanned invoices
- Storage of documents & retrieval
- Processing and receiving the incoming mail
Data Processing
Resolution and proactive management of the exception transactions. It is inclusive of the following –
- Exception and Approval routing
- Minimised month-end process of closing
- Audit trail documentation
Suspect Duplicate Analysis
Control and auditing mechanism which excludes the threat of redundancy in case of payments and better support the recovery and reclamation:
- Automated as well as manual data entry services
- Database matching, which is three-way
- E-Invoice processing
Disbursement Services
All the major parts of the payments are handled in minimal time to minimise the floating cost administered upon the customers
- Return check handling
- Secure and efficient stock checking
- Special invoice and mail handling service
- Electronic payment handling
- Online check proofing
Other Accounts Payable Services
- Account payable reports – It takes into account utility bill management, expenses, travel costs, tax reporting management, supplier management, along with a keen eye on special project reports, and customer service
Benefits of Outsourcing Accounting Payable Services
Increase
Cost-effective
Tracking Regularly
Error Free
Benefits of Outsourcing Accounting Payable Services
Payment of invoices on time
Monthly, quarterly, and annual reports
Adhere to compliance
Maintaining past and current data in a safe and secure manner
Cross-examining checks issued with the paid invoice
Experts without incurring overhead costs
Safe and secure 24/7 web access
No investment of capital on high-end accounts payable process
