Bookkeeper Accounts Payable

What is a bookkeeper accounts payable officer? This is the tracking of money your business owes to any supplier or third party. This department is responsible for keeping track of any funds that are owed and paying them on time to ensure that your business’s payables are in good standing.

If your weekly payables intray is piling up and you are unable to keep track of what has been paid or when bills are due, it is in your best interest to utilize an accounting system like Clients Needs Bookkeeping has to offer. We can provide you with accurate management of your payables to help keep you on track.

Our systems can produce helpful reports indicating the balance owed, when the bills are due, and any outstanding statements that you’ve not yet paid. This will provide your business with a clear picture of all of your trade creditors in an easy-to-understand report.

Why is Accounts Payable Important?

Having accounts payable up to date and accurate is important for making financial decisions.

Imagine if you only have half the information about how much you owe in your accounting software but you have entered all your invoices to your customers. This will give an inflated picture of your profits and in reality you may make bad choices based on that information, as you will think you business is better off financially than you really are.

How our Accounts Payable Service Works

To have the most accurate reporting, we recommend sending us your bills as you receive them. Our upload process is simple and can be done via email or upload through the MYOB capture app.

Once your bills are received, we will add the new payable to your account in our system. For every bill you owe, we attach any related documents for future reference, list the amount owed, and allocate a due date, so you know when to make a payment.

With both MYOB and Xero we can send you an ABA file for you to upload directly to your bank, so you can make a lump-sum payment rather than keying in every individual bill.

At a frequency of your choosing, we suggest weekly or monthly; we will provide you with an accounts payable summary report. This report will indicate how much you owe, when your payables are due, and if any outstanding payments need to be addressed, enabling you to plan your payments accordingly.

You will be happy you have hired a bookkeeper accounts payable officer.

Difference between accounts payable and accounts receivable

Accounts payable ensures your business is up to date on payments and allows you to accurately project cash flow.

Accounts receivable is focused on the money owed to your business by customers or clients. Until the balance is paid, the outstanding amount is recorded under accounts receivable.