Accounts payable services
Discover the outstanding debts of your business and prevent incurring a penalty for late payment.
Stay on top of your expenses and avoid costly mistakes with our comprehensive Accounts Payable services. Save money and ensure financial accuracy. Businesses are always burdened with credit purchases, resulting in bills that need to be paid. To avoid incurring late fines, it is crucial to have an effective system in place. Our team can assist you in managing your accounts payable by creating a customized system that includes establishing strong relationships with your vendors for flexible credit terms and attractive early payment discounts on your bills.
Take a sneak peek at the range of accounts payable services we offer.
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Invoice processing: receiving, reviewing, and processing invoices from suppliers
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Payment processing: managing the payment process and ensuring accurate and timely payments
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Vendor management: maintaining a database of vendor information to streamline communication
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Expense reporting: handling employee expense reports and reimbursing valid expenses
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Reconciliation: comparing accounts payable records to vendor statements and resolving discrepancies
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Aging reports: generating reports to track outstanding invoices and manage cash flow
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Purchase order management: coordinating purchase orders and invoices for accurate billing
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Vendor negotiations: negotiating payment terms and arrangements with vendors
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Compliance and reporting: ensuring compliance with regulations and generating financial reports
How Cloudium Accounts payable works
Cloudium has completely revolutionized the accounts payable landscape by infusing cutting-edge technology into our solution. Through the implementation of intelligent automation and an exceptionally efficient workflow, businesses can now enjoy substantial time and cost savings. Say goodbye to outdated practices and the hassle of managing paper receipts for tax purposes. Our advanced workflow system will lighten your workload, granting you more freedom to concentrate on essential business pursuits.
Cloudium Accounts Payable Process
Collect Invoice
Collect the invoice to take a photo of your invoice and upload it to the document-sharing app. The app's smart scanning technology reads and extracts the data from the invoice.
Review Invoice
We encourage you to review the invoice before approval and recheck all documents that you scanned the right invoice, and that all data are accurate and adequately extracted.
Aprove Invoice
The approval process is straightforward and easily customizable. You can create your own rules, and customize your account payable approval workflow. You can choose who is the right team member to approve the AP invoice and the right time.
Pay Invoice
The payment procedure is speedy and safe. We will seamlessly integrate your bank account with your accounting software to reduce the manual effort of writing a check; you can pay by clicking your mouse.
Your complete Accounts Payable solutions
Manage your working capital smartly
We will organize and develop a user-friendly easy-to-follow dashboard in your accounting software to help you identify available cash in your hand. You can effortlessly plan which bill will prioritize first, so never miss a chance to take advantage of any early payment discounts.
No more manual paperwork
With the help of technology, accounts payable is more convenient than ever before. You can eliminate the hard work of manually sorting out and keeping vendor files from now on. The Cloud file management system allows you to store all your receipts and invoices securely and conveniently way. For every transaction we record in the accounting system, a copy of your supporting document will be attached to it. So you are free from storing paper copies forever.
Improve Accounts payable efficiency and reduce costs.
Forget to pay the bills again? Paying fines or interest, you don't need to. Our improved AP system helps you not only from paying bills on time but also avoiding duplicate payments. You can reduce the cost of accounts payable by adopting a smart payable workflow, thus reducing the processing time of invoices verified and approved. Our experienced team has it under control.
Frequently asked questions
Other Cloudium Services