AR & AP Services

AR & AP Services

Account Payable- It basically means to pay the company’s bills and invoices that are legitimate and accurate, payroll is not considered in this.
If a company has account receivable in books it means there is credit sale which have not yet collected from the purchaser. Most of the companies operate by allowing some part of their sales to be on credit, offering their clients the ability to pay after receiving the service.
The accounts payable process or function is one of the most important process in company as it involves nearly all of a company’s payments outside of payroll so as to safeguard a company’s cash and other assets, the accounts payable process should have internal controls so that there are not payment issue like- Twice payment, excess/short payment etc.