Accounts Payable (AP), or short-term debt, are current liabilities owed by a company to its suppliers and vendors for goods and services purchased. It is a critical business function that impacts a company’s cash flow as it is closely involved in coding, approval, payment, and reconciliation of vendor invoices.
Maintaining an in-house team of accountants, especially for SMBs and solopreneurs, can be expensive. Which is why outsourcing this key business function makes sound business sense. Virtual accounts payable specialists ensure that payments are only made on legitimate and accurate bills and invoices. Keeping track of all day-to-day payment cycle activities in a timely and efficient manner helps protect an organization’s cash and assets and gives them improved financial control.
In short, an experienced and well-managed accounts payable team can save an organization massive amounts of time and money.
Outsourcing the accounts payable services to trained experts in reputed companies safeguards a firm’s cash and other assets. It prevents them from paying a fraudulent invoice, paying an inaccurate invoice, paying a vendor invoice twice and being certain that all vendor invoices are accounted for.
When it comes to outsourcing accounts payable services, all eyes usually turn to India, and with good reason. The highest number of ISO-certified companies, an abundance of IT skills and close to 0.1 million (or 1 lakh) skilled and certified accountants joining its accounting talent pool each year, make India the inevitable winner for virtual accounts payable services.
Partnering with the right accounts payable outsourcing companies in India, like Virtual Employee, only amplifies the benefits of letting such qualified professionals handle your accounting complexities with accuracy and speed.
Virtual Employee’s virtual accounts payable professionals transform your tedious manual AP processes into efficient, automated ones by using cloud software like Xero, Quickbooks Online , etc. This also ensures that your financial data is safe and secure within multi-layers of encryption.
That’s not all. You get up-to-the-minute reports regarding payment oversight along with organized invoices to help you steer clear of hidden costs, interest charges, late fees, invoice discrepancies and disputes. Such a precise idea of actual cash flow is crucial in making growth and expansion decisions.
Keeping the Supplier Ledger, the record of all purchases of goods and services made from various suppliers and vendors, is crucial so that all invoices raised are paid for from day one.
Comparing invoices received from the vendors and suppliers with the purchase orders is a complex and time-consuming activity but extremely crucial to avoid underpaying or overpaying.
Keeping track of all authorized invoices and mapping them to original purchase orders, goods delivery receipts and supplier invoices is what our accounts payable experts excel at.
Disputed invoices are handled adroitly by VE’s experts as they say organized, keep email exchanges and detailed records of time, materials, and other related billable costs.
Your AP team sees to it that all the invoices are posted correctly and payments are done according to the pay terms decided with the vendors.
VE’s expert accounts payable professionals are always available for vendor management and ready to solve any queries related to payment processes.
Right from creation, order approval and dispatch to invoicing, delivery and closure, VE’s accounts payable experts process all your purchase orders along with quality and budget checks.
Often clients can get undercharged due to pricing or sales tax errors. We help you create debit memo requests and carry out debit memo processing. This rectifies accidental positive balances in an account.
Get reliable and error-free processing of your monthly AP ledgers to remain on track with all payments done every month. Gain visibility into all the current and outstanding accounts payable.
Unsure if we are the right fit? Try us before you hire to assess our caliber and expertise. There is no obligation to continue if you are not satisfied.
With VE, say goodbye to freelancing uncertainties as your dedicated accounts payable expert works exclusively only for you.
Hire junior, mid-level or senior accounts payable professionals and benefit from the diverse skills of the entire accounts team.
Interact with your virtual accounts payable resource easily through our multiple communication channels (MS-Teams, email, telephone, etc.).
Your investment of cost with us comes with a solid 100% money back guarantee. You have nothing to lose and everything to gain.
With VE, one of the best accounts payable outsourcing companies in India, you get a world-class offshore extension of your own local office here in India.
Receive vendor’s digital invoices and perform a three-way match to verify the purchase order, goods receipt and invoice.
Review and approve supplier invoices after verification of receipts. This happens before posting as a cost in the ERP and sending payment.
Closely check and flag any inconsistency in quantity or price during invoice processing to the company and the vendor.
After all the variances are checked and addressed, the invoice is vouched and authorized by the concerned authority.
Once everything is cross-checked and verified, payment is issued promptly and remittance details are sent to the vendor.
Once payment is made, the invoice is marked as paid, closed out of the system and filed into various repositories.
Travel & Hospitality
Manufacturing and Merchandise
Hire an accounts payable resource who works exclusively for you. Get complete control over your employee and project.
Build your very own offshore team with us. Hire more than one accounts payable experts and get one senior Project Lead completely free.
Depending on the amount of work, you can purchase bulk hours and enjoy the flexibility of our pay-as-you-consume model.
What kind of accounts payable tasks are you looking for?
Receive screened CVs of our shortlisted accounts payable experts.
Interview/ test selected candidates via phone or video conference.
Happy with the results? Hire them straightaway and start.
Apart from the obvious cost savings, you get to streamline your entire crucial accounts payable process, enjoy 24-hour support, and have the assurance of offloading even last-minute accounting work to a dedicated resource.
Paper invoicing and OCR is quite time-consuming and upgrading to modern tools like QuickBooks can be quite costly. Outsourcing AP processes helps your business improve its overall efficiency through a streamlined accounting process without an expensive system overhaul.
Very easy. We understand that scalability is important. All it takes is an email from you to our HR department and you can ramp up or downsize your team here with us.
Your remote accounts payable expert can work: a) your shift hours, b) overlapping shift hours, c) Indian shift hours. It all depends on what suits you best.
Absolutely safe. VE is an ISO 27001:2013 certified company and has stringent data security measures in place. Our IT staff comprises of 50+ Cisco, Linux and Microsoft Certified Engineers for round-the-clock monitoring of sensitive data.
Yes, you may have a 1-week free trial with your shortlisted candidate. If you want to exceed this time limit, then that will be a paid one. Additionally, there is no obligation to hire post the trial.
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