| Updating vendor database | A master list of all approved vendors with their signed contracts will be collated in a database with their contract details and terms of payment. | Within 1 Business Day |
| Scrutiny of bills based on signed contracts | As and when you purchase anything, just login to our portal, scan/attach the bills and click on upload. We will check if the bills received are compliant and you will then see it in your queue for approval. | 1 – 2 Business Days |
| Checking bills for errors | All vendor bills will be cross checked as and when against the database for period, due date, rates, amount charged, etc. | 1 Business Day |
| Returning back bills with errors for clarifications | As and when if any discrepancies are found, it will be brought to your attention for correction. | 1 Business Day |
| Posting in accounting software for all error free bills | All the scrutinized bills that are compliant with the database will be entered into the accounting software. | 1 Business Day |
| Ensuring bills posted under correct ledger heads | A double check mechanism is put in place to ensure that all bills are posted under correct account heads | 1 Business Day |
Tracking due dates for all accounts payable
| All your payables due date are tracked and you are informed well in advance for timely payments. This will also reflect in the weekly accounts payable projection report sent for the following week. | On or before the due date |
| Follow up on authorization to ensure timely payments | We make sure that we have all the required authorization to process your payments on time before the due date. | 1 Business Day |
| Making online payments after authorization | When we have your authorization for the account payables, we make sure that the payees are paid online on their due date on time. | 1 Business Day |
| Creating checks for printing before payments | After we receive your authorization, checks are prepared for you to print and issue to vendors. | 1 Business Day |
| Updating accounts payable statement after payments | Accounts payable report is updated real-time after each payment made through wire-transfer or checks. | 1 Business Day |
| Updating accounts payable statement if payment declines | When any payment declines or a check returns, the accounts payable report is updated in real-time and brought to your attention immediately. | 1 Business Day |
| Bank reconciliation statement | On a weekly basis, we will tally the accounts payable with the bank statement and report any variance to you. | 1 Business Day |
