Payables and receivables are the two places where a finance function is felt by everybody else: suppliers who get paid late, and customers who were never chased. Both are usually running on somebody memory, and both automate well once the rules are written down.
Approvals chased over messages, and the occasional invoice paid twice.
The oldest invoices are the ones nobody has looked at.
The aging report and the ledger tell different stories at month end.
What an engagement includes depends on scope. These are the parts that come up most.
A schedule, a threshold, and an approver, so paying a supplier is not an interruption.
Who is chased, when, and by which message, running whether or not anyone remembers.
Aging that agrees with the balance sheet, reconciled as part of the close.
We can run the payment process up to the point of release, and many clients keep the final release with an owner. Which of the two it is gets decided in the engagement rather than assumed.
Yes, where you want us to. We follow the schedule and the wording you approve, and anything that needs a judgement call comes back to you.
The common ones, including Bill.com, Ramp, Brex, Melio and Tipalti, alongside QuickBooks or Xero. If you already have something that works, we would rather use it than move you.
We will say plainly whether this is work we should be doing for you, and what it would cost.