Accounts Payable is the process of keeping track of Company financial obligations. It involves the issuance of purchase orders, acceptance of invoices from vendors, recording the invoices in the computer system, and payment to vendors. This service describes the procedures and forms used in accounts payable.
The purpose of this service is to provide consistent Accounts Payable procedures in the handling of invoices and issuance of checks. Most importantly, these procedures are intended to provide safeguards for maintaining the quality and integrity of your accounts payable system. So here is how we do it;
Gonzalez & Company uses Bill.com for Accounts Payable Processing and Vendor Document Management. As we receive new vendor bills in your Bill.com Inbox, we’ll enter the bills for your review and approval. If you have a question about a bill or for any reason opt not to approve it, Bill.com includes an easy “deny” option that routes the bill right back to us along with your question or the reason for the denial. We’ll address any questions with you, make any adjustments that you request, or void the bill if it is not valid
for payment. Bills can be routed to multiple approvers in a number of ways.
Once your bills are approved and ready for payment, you have several options:
With Bill.com, all of your vendor bills and documents are digitally stored. When you use Bill.com to pay your bills, once a check for a vendor payment clears the bank, a copy of the front and back of that check is retained along with the digital image of the bill for easy reference. You can even open that image as a PDF for printing or emailing if needed. An even more powerful option is the e-payment solution available through Bill.com. Not only can you pay thousands of vendors electronically that are already part of the Bill.com Payment Network, but you can actually send an email invitation to virtually anyone.