Accounts Receivable and Accounts Payable Services for Businesses
Looking for a trusted and internationally experienced AR & AP outsourcing partner?
We provide AP and AR outsourcing services to our business partners from Australia, Canada, Ireland, United Kingdom and United States.
Why do You Need an AR & AP Accounting Service You can Count on?
Efficient recording of your accounts payable and receivable is critical to your cash flow management. The flawlessness of your accounting system depends on the precision of the individual data that is entered.
There could be scores, or even hundreds of entries to be made every day. Even small oversights can make a huge difference in the final numbers. Hence, it is crucial for your business to be able to collaborate with the best AR and AP partner who can deliver with multilayered accuracy checks.
AR and AP entries help you gauge the financial health of your business. If you want to know how much money your customers, clients, and business partners owe to your business, and how much money you owe to the others, you look for the accounts receivable and accounts payable entries. The balance at the end tells you how much you might spend and how much to economize.
Want to invest in that new machine? Want to hire more employees? Want to open another office in a nearby district? Wondering how much you need to save to maintain a positive cash flow in the near future? You obtain this information from your accounts receivable and accounts payable entries.
If your AR and AP processes are not efficient, you can never know the true state of your financial health and this leads to faulty business decisions. Some of these faulty business decisions can potentially run your business to the ground. Without the right information, you cannot make the right decisions.
In the modern days, the sheer volume and complexities of transactions can derail your entire accounting process and before you know it, you're trapped in a financial conundrum.
Why Should You Outsource Your AR & AP Services?
Intelligent business managers and business owners like you outsource their AR & AP requirements because of the following needs:
- Hiring full-time, in-house employees is expensive
- It is difficult to find qualified and dependable accountants locally
- Verifying data accuracy can become cumbersome
- Upscaling and downscaling is difficult
- Time difference advantage – your account books are updated by the time you start work in the morning
Labour laws in countries like Australia, Canada, Ireland , United Kindgom and United States are quite demanding. Hiring and firing employees can put a big drain on your business. Cost of living is higher so naturally, employees demand higher salaries. Additionally, if suddenly you need to hire more employees or if you want to let go of a few existing employees, there is a prolonged and tedious, and also expensive process to follow. No such hassles when you outsource your AR & AP requirements.
Seamless scaling. Pocket friendly packages. Most of the work happens in the background.
Businesses like yours are saving thousands of dollars every month by outsourcing their accounts payable and accounts receivable services to Aone Outsourcing Solutions.
No need to hire in-house staff. No need to pay fixed salaries. No need to spend on infrastructure and on providing facilities to in-house employees.
We take accounting assignments at scale. We have hired a competent team of accountants and financial experts who do nothing else but enter bookkeeping records for our various clients practically spread across the globe. This allows us to offer our services at a fraction of the cost that you would otherwise incur by hiring your own staff or even outsourcing your accounting services within your own country.
Listed Below are Some Benefits of Working With us for Your Business Accounting Needs:
- Guaranteed accurate data entry
- Follow up with customers, clients and business partners who owe you money
- Maintenance of records and adjustments of accounting books according to your regional bookkeeping conventions
- A team of experienced accountants and people with finance/commerce background
- Competitive hourly rates
- 100% confidentiality
- Complete knowledge of accounting laws in countries like Australia, Canada, Ireland, UK and USA
- Accounts receivable and accounts payable entries in your preferred cloud-based or off-line accounting system
- Dedicated account manager for larger projects
- Multilayered accuracy checks
These are the AR & AP Outsourcing Services that we Provide to Our Overseas Clients:
Accounts Receivable Services
- Make appropriate entries into your preferred accounting system
- Track overdue payments and follow-up by emails and phone calls
- Set and implement clear policies for credit approval
- Send invoices directly to customers and clients
- Prepare "Aged Receivable Reports" for overdue payments
- Prepare monthly debtors management report for the management
- Track inventory so that it can be tallied with the payments received and not received
Accounts Payable Services
- Create purchase orders
- Enter details of the purchase invoices
- Setup and maintain suppliers list in your accounting system
- Prepaid debit and credit notes
- Make arrangements for payments to suppliers based on preferred payment modes such as direct transfers or via cheques
- Identify opportunities if discounts are available through early payments to suppliers
- Resolve issues with suppliers or follow up and escalate the issue whenever necessary
- Match supplier statement of account with your books
- Prepare account statements of suppliers
- Track purchase orders and tally them with bills and invoices
- Generate simple and advanced reports based on different segments
Wondering how we Deliver our AR & AP Services Remotely while Maintaining Stellar Quality?
Here is how…
You must already be getting your bills, invoices, purchase orders and other financial documents digitally. You can either automatically or manually forward them to us.
Even if you don't get them digitally, you can easily scan paper documents using your mobile phone. We can recommend apps that allow you to quickly scan your paper documents and at the same time upload them to the designated server. Most businesses these days have digitally capturing such documents as a part of their overall process. For example, if your logistics company is picking goods from a supplier, then the involved personnel may already be scanning the paper documents with their mobile phones or tablets.
Once these digitised documents are received by our team, we extract the useful information and enter it under the appropriate account headings, using your preferred accounting software such as XERO, MYOB, Quick Books or Net Suite.
As we work together more, a greater number of processes can be automated so that, despite getting the most appropriate accounts payable and accounts receivable services, minimum involvement will be required on your part.
There is a constant pressure on your business to bring down operational costs and increase efficiency. Outsourcing your accounting needs can achieve both.
Want to join scores of other international businesses that are benefiting from our AR & AP services? Contact us today and we will promptly provide you all the needed information.
Peter owns and operates a small logistics company in the city of Chicago, the USA. He owns a fleet of 45 trucks and trailers, and his drivers pick and drop deliveries from and to more than 500 locations on an average day.
Aside from hundreds of individual clients, he also has scores of corporate clients who maintain an account with his logistics company. Even individual clients who use his logistics services regularly, prefer to maintain an ongoing account to avoid the hassle of processing payments for every pickup and drop.
To main his fleet, for regular fueling, for repair work and maintain his office, he partners with suppliers, gas stations and service providers.
Although he was quite happy with how things were going, one of his biggest problem areas was maintaining the accounts receivable and accounts payable data.
A few accountants and bookkeepers that he had hired, were always chasing deadlines instead of remaining ahead of the game.
Whenever he wanted to know how much money he needed to get from his clients and how much money he needed to pay for the various products and services his business was using, his accountants were at a loss because they were still trying to capture data from thousands of paper slips and scanned documents that they received like a never-ending stream.
He was happy the way his business was gradually growing but despite that, he couldn't afford to hire more accountants or even replace the current ones with better qualifications and more experience. The mortgages of many trucks and trailers still needed to be paid. The utility bills were rising. The vehicles were guzzling gas like crazy. To make the matters worse, since he didn't have the appropriate Accounts Receivable data with him, payments from his clients were always getting delayed.
He knew that many businesses are outsourcing their AR & AP needs. If he could find the right accounts and bookkeeping service online that could take care of Accounts Receivable and Accounts Payable needs, multiple problems could be solved with a single stroke. Hewett need to hire in-house staff that was consuming more resources and delivering less. His documents would be processed in real-time. He would have the most up-to-date data in its accounts book.
His only hesitancy was, how would his logistics company transfer all that paperwork to the outsourcing company, on an ongoing basis? He was trying to find information on the web when he came across the website of hone Outsourcing Solutions. They had explained their services it quite a reassuring manner.
Still not sure whether he would like to hire them or not, he called up one of the numbers listed on the website and a friendly person picked up the phone on the other side.
To his immense surprise, the person on the other side knew exactly what problems he was going through. In fact, the person seem to know more about his problems than he himself did.
It would be a learning process for both the stakeholders, the person explained. In the beginning there was no need to let the current staff go. The service could be used on a trial basis and gradually, all the AR & AP processes could be transferred to the Aone Outsourcing Solutions staff.
Peter liked the idea. He made the initial payment and instructed 15% of his staff to immediately scan the paper documents that they received from clients and other businesses and upload them to the chosen cloud storage service, from where the Aone Outsourcing Solutions staff would access them.
He used QuickBooks for his accounting needs. He gave access to his QuickBooks account to one of the Aone Outsourcing Solutions executives.
To his great delight, the data that his staff was uploading, appeared as correct entries in his accounting system almost within hours. It was as if his drivers and other staff members were themselves adding the entries from the very location they were working.
The best thing he liked about working with Aone Outsourcing Solutions was that the entries of the previous day were already available in the system by the time he started his operations the next day. Before hiring Aone Outsourcing Solutions it would take his accountants and bookkeepers weeks to update their records. Now, it was a matter of just a few hours. This was amazing.
After trying the service for a couple of weeks, he shifted his entire AR & AP requirements to Aone Outsourcing Solutions. It just took a few days to get his staff accustomed to the idea of immediately scanning the invoices and receipts that they received from clients and other service providers and then uploading them to the cloud service.
It's been seven months now. All the accounting information that he needs is always at his fingertips. The reminders are sent automatically to all the people and agencies that owe money to him. Payments from his company are issued on time. These days, instead of worrying about his AR & AP, he is focusing on growing his business. He has also recommended Aone Outsourcing Solutions to some of his corporate clients.