Our Operating Process

 

 

  Accounts Payable

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Once a contract is agreed upon, after our first consultation, a briefing session will then be arranged to discuss your company process and requirements. An internal email account will be set up to avoid any confusion for your clients. All Accounts Payable and Accounts Receivable information can be forwarded to the new email account which will be managed by ourselves. If you do not have an accounting system we can implement a system set up, load new or outstanding data and continue to provide a Bookkeeping service for you.

 

• Invoices received and checked

• Invoices will be sent for approval to the relevant people in your company

• Once received it will be processed to your nominal codes into your accounting system

• If purchase orders are used the below process will be followed,

• Create Requisition

• Create PO

• PO authorization

• Sending authorized PO to the requester

• Receipt of Invoice, Matching and checking

• Invoice approval

• Invoice Processing

• A Supplier Reconciliation will be done to ensure all supplier records are kept up to date and invoices will be prepared for payment when they fall due. The payment process will be carried out as per your company preference which can be discussed.

• Payment of Invoices as they fall due. Efficient payments to your suppliers are guaranteed whilst taking into account your cash flow and adhering to compliance

• Dealing with Supplier queries

• Our process can be easily adapted to your company's processes

• All journals for accruals, prepayments and intercompany will be completed as well

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  Staff Expenses Payments

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Staff expenses will be handled as per your company process whether it is electronically or manually.

• The Expenses will be checked as per your company SOP and processed

• All payments will be carried out as per your company preference which can be discussed

 

 

  Accounts Receivable

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• All invoices will be created as per your company process and sent to the relevant people within your company for approval

• The invoices will be sent to the clients on behalf of your company. The Debtors list will be updated with all new invoices

• All invoices due will be followed up with your clients until payment is received and commentary will be provided, so you are always kept updated

• When payment is received it will be allocated against the client account and the Debtors list will be updated

• Client statements will be sent out on your behalf as per your company preference

 

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  Bank Reconciliations

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• Bank Reconciliations will be carried out weekly and completed at month-end

 

 

  Treasury and Cash Management

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• Accounts Payable/Accounts Receivable cash forecasting, VAT payments

 

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  Reporting

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• An Analysis report with a commentary on the accounts payable costs will be provided, to identify trends. An accurate spend analysis will be provided, in order for your business to run more cost-effectively

• Any month-end reporting for Accounts Payable and Accounts Receivable requested can also be provided

• Aged Creditors Reports & Aged Debtors, Reporting up to Trial Balance is provided

• All queries are dealt with efficiently

• We will continue to maintain excellent relationships with your suppliers and your clients and handle all queries on your behalf swiftly

 

 

 

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