Accounts Payable

With the help and guidance of our accounts payable services at Godbold & Romanov CPAs, we can:

• Reduce overhead and payroll costs
• Increase your workforce productivity
• Increase processing accuracy
• Eliminate attrition and the efforts it takes to retrain staff
• Work out any issues with vital business processes
• Provide options and solutions for company restructuring

Our crew of trained accounts payable analysts have worked with a wide array of accounting systems, which allows for a seamless process, from receipts to approvals to payments.

Here are the more detailed accounts payable tasks we can tackle for you:

• Identify whether the invoice is PO (purchase order) based or non-PO based and code the non-PO invoice for approval.
• Verify goods or services received, match invoice to purchase, and determine whether all the information is matching or not.
• Enter invoices into the accounting system, inputting relevant details, such as vendor name, invoice number, and amount owed.
• Monitor and follow up on pending invoices to make sure approval is timely.
• Process travel expenses.
• Communicate with vendors and respond quickly to any inquiries or issues.
• Create an aging report, monitor, and schedule or process payments.
• Support other accounting functions, like accounts receivable or general ledger.
• Assist with reconciliation of the accounts payable process and provide any necessary documentation.
• Prepare and distribute 1099 forms.
• Help with month-end closings and reconcile accounts payable balances.
• Update and create new vendors, keeping banking and contact information updated.