ACCOUNTS PAYABLE

The first of the basic accounting functions is Accounts Payable – paying the bills. Silicon Valley Accounting Solutions guides our clients to determine the most efficient method that not only gets bills paid on time, but also classifies the payments for tax and internal reporting. The final element of the process is to develop an effective way to archive source documents for future reference.

1. Entering Bills

Manual entry
Using a third party retrieval service
Classification of expenses
Indicating when the bill has been entered

2. Paying Bills

Audit bill data fields
Approval of category and amount of expense
Issue manual checks
Using bank bill payment features

3. Processing credit memos

Verification of credit detail
Entering into QB and linking to original expense
Reducing next payment by the amount of the credit

4. Records archiving/retention

Paper files
Electronic Copies
Third-party retention center

Silicon Valley Accounting Solutions provides bookkeeping and accounting services to businesses in San Jose, California and the surrounding Bay Area.

ACCOUNTS PAYABLE

1. Entering Bills

2. Paying Bills

3. Processing credit memos

4. Records archiving/retention

Proactive. Predictive. Process.

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