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POSTS TAGGED : account payable

11 Most-Common Mistakes Made in Accounts Payable

posted inFinance on May 19, 2022 by Ivan Widjaya with 0 Comment

Accounts payable invoice processing is a demanding part of operating a business but an aspect no organization can overlook. Without a sophisticated accounts payable procedure, your credit rating may be impacted. Your business might be subject to penalties, supplier relationships may be jeopardized, and bills might not get paid on time.

E-invoicing

To ensure smooth operations of such processes, read this post to discover if you are inadvertently making any mistakes with accounts payable invoice processing.

1. Not Using E-Invoicing

E-invoicing, or electronic invoicing, can do away with paper invoices and save your business time and money. With e-invoicing, you can receive, manage, and pay invoices all in one place electronically.…

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How to Streamline Your Accounts Payable Department

posted inFinance on September 4, 2017 by Ivan Widjaya with 0 Comment

Accounts payable are not always a priority for small businesses. Instead, they are more concerned with chasing up customers who have fallen into arrears. This is perfectly understandable, but forgetting to pay your bills is not the best way to build trust with suppliers. It could also lead to credit problems if you are consistently late paying bills.

Calculating account payable

Often, all that is needed are a few simple tweaks to your workflow process, so let’s look at how you can streamline your accounts payable department.

Keep it Simple

The more complicated you make the process, the longer it will take. Paying bills each time someone sends you an invoice is understandable, but paying random invoices at different times of the day is a massive time drain.…

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