Accounts Payable Services in Dubai, Abu Dhabi, UAE
Every organization including small and medium-sized enterprises, large multinationals, and family-owned businesses strive to reduce cost, avoid the expense and maximize revenue. By outsourcing accounts payable processing, the company can reduce the cost of hiring permanent resources or a team of professionals while getting better control over the entire process through an outsourced firm fully dedicated to managing the accounts payable process.
Aviaan Accounting provides administrative, clerical, and financial support to the organization as well as ensure compliance with all industry standards, company policies, and accounting guidelines
Accounts Payable Process in Dubai, Abu Dhabi, UAE
Accounts payable is a rule-driven process, all business entities follow a set of standards before processing the large volume of transactions and making vendor payments. The account payable process involves the following steps:
- When goods are purchased by the company, the bill/invoice includes the quantity and price at which the goods are bought. Also, it includes the validity time period.
- The accounts payable processing team must ensure that the invoice vendor name, authorization, date and verified and matching requirements to the purchase order.
- After verifying, business ledger accounts get updated based on the received bills, and an expense double entry is usually required in accounting transactions.
- According to the terms and conditions agreed between the vendor and the company, payments would be processed before or at their due date on a bill. Details entered on the check encompassing vendor bank account details, payment vouchers, the original bill, and purchase order.
Advantages of an Efficient Accounts Payable Service in UAE
It’s important to have internal control and monitoring mechanism for the accounts payable process to ensure the following things:
- Avoid any fraudulent invoice
- Avoid payment of an inaccurate invoice
- Prevent redundant payment to vendors
- All vendor invoices are accounted for on time
What is the Accounts Payable Service Aviaan Accounting Offer in Dubai, Abu Dhabi, UAE?
Aviaan Accounting has the expertise to oversee all aspects of accounts payable departments which includes more than just paying incoming bills and invoices. Depending on the size of the organization, Aviaan accounting provides accounts payable services in Dubai, Abu Dhabi, UAE such as:
- Business Travel Management: This mostly true for the large size complex organizational structure that requires staff to travel while the accounts payable department manages their travel expenses and reimbursement requests.
- Administrative Controls: Aviaan Accounting manages internal reimbursement payments, petty cash distribution, and distribution of sales tax exemption certificates. Small expenses such as miscellaneous postage, out-of-pocket office supplies, or company meeting lunch are handled as petty cash.
- Vendor Payment Management: Accounts Payable organizes and maintains vendor contact information, payment terms, and Internal Revenue Service W-9 information either manually or using a computer database.
- Cost Reduction Strategies Development: We work towards reducing costs by recognizing details and developing strategies to save business money.
- Partnership Building: Our team is dedicated to building a favorable and productive relationship with vendors, suppliers, and other key stakeholders while providing accounts payable service.
In order to benefit from our quick and accurate accounts payable service in Dubai, Abu Dhabi, UAE, contact us at email@example.com or +971567952590.