Accounts Payable
“Tailored Solutions, On-Demand Resources, Assured Quality, Round-The-Clock Service.”
Plan for Future with EA’s Outsourced Accounts Payable
Avoid reputational and financial losses associated with staling payables with Expertise Accelerated’s support on Accounts Payable optimization.
We are the best AP outsourcing companies in Connecticut, US. Delays in payments to vendors, regulatory bodies, or other third parties can have adverse implications for the company in the form of delayed payment surcharges, suspension of licenses, and loss of reputation, among others, compromising future growth and borrowing potential.
Therefore, it is paramount for the company to bring its Days Payable Outstanding to the optimal level, which is possible only through system automation and integration and tracking of key metrics.
Top AP Outsourcing Company: Streamlining Accounts Payable Processes for Business Efficiency
Expertise Accelerated leverages its global talent pool to provide you with the human capital you need to optimize your Accounts Payables function by:
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- Developing standardized processes;
- Maintaining a rigorous check on payables due;
- Reducing reliance on cumbersome paper-based records; and
- Enhancing operational transparency.
Leverage Expertise Accelerated’s global talent pool for a well-optimized Accounts Payable function. We are one of the top AP outsourcing companies providing cost-effective solutions for streamlined accounts payable management.
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Accounts Payable
Vendor Master Maintenance
- Restricted Access
- Controls for Only Authorized Changes
- Periodic Data Cleansing
- Exception Reports Review and Approval
Invoice Processing
- Invoice Receipt Automation
- PO 2 or 3-Way Matching
- Approvals for Without PO
- Resolution of Queries
Payment Processing
- GL Account Coding
- Verify Terms of Payment
- Payment Scheduling
- Payment information Transmiited
T&E Administration
- T&E Policies
- System Administration
- Policy Compliance Review
- Exception Communication
Account Reconciliations
- Reconcile Sub-ledger with GL
- Review Aging
- Reconcile Bank
- Segregation of Duties
Accounts Payable Management Services for Efficient Cash Management
Accounts payable outsourcing refers to assigning the management of the company’s payables to a third-party service provider.
Expertise Accelerated offers Accounts Payable Services as part of its Accounting Services portfolio.
EA’s Accounts Payable Service seeks to regulate liquidity while maintaining strong credit terms with the vendors and is offered either as a staff augmentation solution or an outsourcing solution, and in either case, the engagement is led by its Connecticut-based Team Leads and executed by handpicked and intensively trained offshore accounting & finance professionals.
Accounts payable outsourcing services are common with companies struggling to maintain a balance between vendor relationship management and liquidity. Timely payment to vendors is important but a failure to time the payments can strain out the company’s liquidity.
Through its augmentation or outsourcing teams, EA provides the expertise needed to maintain this delicate balance.
OUR PARTNERS
WHAT OUR CLIENTS HAVE TO SAY
There is only one word that comes to mind when I think of Haroon Jafree, and that is brilliant! We worked together at Sara Lee (now Hillshire Brands) on numerous business process reengineering projects in accounting and finance, including implementing a Trade Promotions Management System. As a result, we made a dramatic increase in the productivity level of our company. Haroon has exceptional ability and earns my highest recommendation.
Director IT
Sara Lee (now Hillshire Brands)
For five years, I had the pleasure of working with Haroon Jafree at Sabra Hummus. During this time the company was transformed from a small startup to a high-performance company with highly automated processes and systems. Haroon worked on numerous business process reengineering projects with great success achieving significant savings both in the accounting / finance, and operations. As someone who has had a front-row seat to his work, he is very professional in his interactions and is always a phone call away..
Director of Process & Transformation
Sabra Dipping Company (PepsiCo & Strauss JV)
I had the pleasure of working with Haroon for two years on Sarbanes Oxley internal control implementation projects. Haroon has an unparalleled ability to help clients of all sizes establish a strong accounting and internal control environment. So, if you are looking for an expert in accounting, finance, and business process reengineering, then look no further.
Senior Consultant
Audit and Compliance Group
Haroon is a person with wide range of expertise in accounting, reporting, projects management and systems. He's a great team player and is always there to help solve problems. I enjoy working with and highly recommend him.
Manager, Accounting Consolidations
TE Connectivity
Haroon has a can-do attitude. I enjoyed working with him on a recent acquisition and received guidance many times. He is very knowledgeable and resourceful.
Global Finance Executive | Retail, CPG, Manufacturing, E-Commerce | FP&A | Turnaround | M&A & Integration | Private Equity | Sales experience
Sabra Dipping Company (PepsiCo & Strauss JV)
FREQUENTLY ASKED QUESTIONS
What is accounts payable?
Accounts payable refers to balances owed by your business to your vendors/suppliers.
What type of account is accounts payable
Accounts payable is a liability account, an increase in which is reflected through a credit entry and a decrease in which is reflected through a debit entry. Accounts payables are classified as current/short-term if they are due within a period of 12 months and as non-current/long-term if they are due beyond a period of 12 months.
How to calculate accounts payable?
Accounts payables are calculated by summing up all the balances the business owes to its suppliers/vendors.
What’s the difference between accounts payable vs. accounts receivable?
Accounts receivable represent balances owed by customers to the business, whereas accounts payable represent balances owed by the business to its vendors/suppliers.
Accounts receivables are an asset, while accounts payables are a liability.
Accounts receivables are debit balances, while accounts payables are credit balances.
A reduction in accounts receivables is made through a credit entry, and an increase is made through a debit entry, whereas a reduction in accounts payable is made through a debit entry and an increase is made through a credit entry.
Accounts receivables are booked when an invoice is issued, whereas accounts payable are booked when an invoice is received.
Can businesses customize services with AP outsourcing companies?
Yes, many AP outsourcing companies, like EA, offer customizable solutions tailored to their clients’ unique needs and preferences. Businesses can often choose from various service options and features to create a customized AP outsourcing solution that meets their requirements.
How do AP outsourcing companies benefit businesses?
AP outsourcing companies, like EA, help businesses streamline their accounts payable processes, reduce operational costs, improve accuracy and compliance, enhance vendor relationships, and free up internal resources to focus on core activities.