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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.