Account Payable
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Accounts Receivable Report
Demonstrates outstanding payments owed by clients and customers.
Bank Reconciliation Report
This report conducts a comparative analysis between bank statements and bank book accounting records to ascertain their accuracy.
Budget versus Actual Report
This document facilitates the comparison of budgeted expenses with actual expenditures.
It is a reponsible for processing all invoice and non-payroll payments, and it’s money owed by a company to its creditors/vendors.
Accounts payable and its management is a critical business process through which an entity manages its payable obligations effectively. Accounts payable is the amount owed by an entity to its vendors/suppliers for the goods and services received.
Specifically Accounts Payable is responsible for
- Records of all vendors on a daily basis, iincluding direct or indirect
- Maintain precise records of all vendors in payments.
- Monitor tax liabilities and ensure tax liabilities are paid on time.
- Responsible for paying and keeping a record of all invoices.
- Keep track of all company credit card spending and make payments on credit accounts.
- Analyze all accounts on a monthly, quarterly, and annual basis to ensure payment accuracy.
- Work collaboratively with various departments to perform accounting audits.
- Prepare and mail all required tax documents.
- Research and approve new vendors and create a new vendor accounts.
