What is Accounts Payable Management & Reconciliation?

Accounts payable is the recording of amounts owed to vendors or suppliers for goods or services they provided. To reconcile these accounts the invoices are compared against the vendors or suppliers monthly statements. Reconciling accounts accurately is essential for the financial health of any business as it helps to detect any errors, discrepancies or fraud. Tactic Bookkeeping can help with our efficient tailored accounts services saving you time and money. If you don’t like the internet and computers we can arrange to have your invoices picked up at your location and a cheque.

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How Can Accounts Payable Management& Reconciliation Help Me?

Management of your accounts payable will save you time and money. We can set you up with AutoEntry which is simply capturing an invoice or receipt on your phone where it will be integrated with our Accounting Software. We access the larger vendors portals to retrieve the invoices and statements directly. The smaller vendors will be contacted and it will be requested that the invoices will be emailed to us as well as your business. All of your invoices will be entered into our system once they are verified and reconciled. Upon your review, the payments will be imported to your bank account where you simply have to click approve and the EFT payments are done. Prompt payment will decrease vendors late fees and interest charges.