accounts payable

The Importance of Financial Forecasting and How to Start
Blog Finance

The Importance of Financial Forecasting and How to Start

One common pitfall for growing businesses is a lack of focus on financials. Marketing strategies and product development are undoubtedly exciting. Still, more often than not, it’s the diligent work of finance and accounting teams that keeps the business on track and moving full steam ahead.  If you’ve gotten by so far without financial forecasting, […]
4 min read
iStock-1040303346
Blog Accounts Payable

How Poor Invoice Management Stunts Growth And How To Fix It

Imagine walking into the office on a Monday morning, and your desk is buried in invoices. You spend the next week manually uploading each one. You barely have time for a coffee break because the piles never actually go away. You keep at it because that’s your job, and that’s how your company manages invoices. […]
9 min read
What are Accounts Payable Accruals? And how to manage them
Blog Accounts Payable

What Are Accounts Payable Accruals? And How to Manage Them

As one of the biggest sources of liabilities on the balance sheet, accounts payable accruals can spur your company’s growth—or hobble it. Accurately tracking and maintaining your accounts payable balance prevents cash underruns, unwanted fees, and friction in your procurement process, all of which destroy progress.  Finance's accounting method may also impact the accuracy and […]
5 min read
iStock-1357264739
Blog Accounts Payable

3 Reasons Your Company Needs 3-Way Matching Automation

What is 3-way matching? Essentially, 3-way matching is a process in accounting in which a company verifies that a purchase order (PO), supplier invoice, and goods receipt all reflect the same products and pricing. If the numbers are consistent throughout each document, wah-lah! You’ve got yourself a 3-way match! With the green light of a […]
3 min read
iStock-1397889937
Blog Accounts Payable

How Accounts Payable Trial Balance Improves Your AP Process

Business success demands effective decision-making, on-time reporting, and accurate data entry. Still, sometimes errors enter the system—and poor invoice processing is a primary reason. Users may not discover inaccuracies caused by an incorrectly processed invoice until they prepare the accounts payable (AP) trial balance. This leads to late reporting and delayed decisions. If no one […]
6 min read
iStock-1452827340
Blog Accounts Payable

Is Accounts Payable Outsourcing the Best Choice for Your Business?

Accounts payable outsourcing refers to inviting a third-party team to manage your accounts payable process for you. Your accounting department will have fewer tasks to accomplish since liabilities such as short-term debts and managing your creditors are given to qualified third parties.
9 min read