AP & AR Management Services

We facilitate Accounts Payables & Accounts Receivables management which involves a series of specific activities to ensure the accuracy of financial records, track outstanding balances, and maintain healthy financial relationships with vendors and customers.

  • Match vendor / customers invoices with purchase orders and goods receipts / dispatched to ensure that the quantities, prices, and items are correct.
  • Reconcile Goods Received/Invoice Received (GR/IR) accounts to ensure that all goods and services have been accurately recorded and accounted for.
  • Review vendor / customer statements against company's records to confirm that all invoices have been received / dispatched and processed.
  • Match payments made to vendors with corresponding invoices to ensure proper allocation and accurate reporting.
  • Monitor and follow up on overdue invoices, initiate collection efforts, and collaborate with customers to facilitate payment. Review and approve write-offs for uncollectible accounts, following company policies and accounting guidelines.
  • Categorize outstanding invoices by due date to manage cash flow and prioritize payments. Adjust accruals and prepayments to reflect the correct financial position and comply with accounting standards.
  • Communicate with vendors / customers to address discrepancies, clarify invoice details, and resolve payment / receipt issues. Investigate and resolve discrepancies or disputes with vendors / customers related to outstanding balances or payment terms.
 
     
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