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ACCOUNTS PAYABLE OUTSOURCING BY BY RENUKA INFOCOM PVT LTD RENUKA INFOCOM PVT LTD ITES-BPO COMPANY ITES-BPO COMPANY AN ISO 9001:2000 CERTIFIED AN ISO 9001:2000.

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Presentation on theme: "ACCOUNTS PAYABLE OUTSOURCING BY BY RENUKA INFOCOM PVT LTD RENUKA INFOCOM PVT LTD ITES-BPO COMPANY ITES-BPO COMPANY AN ISO 9001:2000 CERTIFIED AN ISO 9001:2000."— Presentation transcript:

1 ACCOUNTS PAYABLE OUTSOURCING BY BY RENUKA INFOCOM PVT LTD RENUKA INFOCOM PVT LTD ITES-BPO COMPANY ITES-BPO COMPANY AN ISO 9001:2000 CERTIFIED AN ISO 9001:2000 CERTIFIED NEW DELHI NEW DELHI INDIA INDIA

2 OVERVIEW The accounts payable process pays an important role under the accounting process. Companies spend huge expenditure on maintaining accounts payable process depending upon the Purchases of the company from year to year. The accounts payable process pays an important role under the accounting process. Companies spend huge expenditure on maintaining accounts payable process depending upon the Purchases of the company from year to year. If the accounts payable department is not strong enough to track the outstanding dues at the end of each payment period then huge cost is to be incurred for tracking the exact payment to exact vendor at exact time. Additional cost may be incurred like penalties on late payment, interest, discount waivers, duplicate payments, wrong payment to vendors or additional payments, etc. If the accounts payable department is not strong enough to track the outstanding dues at the end of each payment period then huge cost is to be incurred for tracking the exact payment to exact vendor at exact time. Additional cost may be incurred like penalties on late payment, interest, discount waivers, duplicate payments, wrong payment to vendors or additional payments, etc.

3 BENEFITS TO OUTSOURCE Improve the payment cycle. Improve the payment cycle. Building vendors confidence. Building vendors confidence. Reduction of additional liabilities. Reduction of additional liabilities. Effective creditors management. Effective creditors management. Timely payments of Bills. Timely payments of Bills. Reduction in Management expenses like manpower cost, Reduction in Management expenses like manpower cost, infrastructure cost and communication cost by 40%-50%. infrastructure cost and communication cost by 40%-50%. Better Time Management with improved staff efficiency. Better Time Management with improved staff efficiency. In-Depth study of accounts payable expenses. In-Depth study of accounts payable expenses.

4 AUDITING BY RENUKAS Nature of payment to be made. Nature of payment to be made. Actual Amount due to the vendor. Actual Amount due to the vendor. Checking full contact details of the vendor for which the amount is due. Checking full contact details of the vendor for which the amount is due. Reconciling the purchase order with the invoice received again for value of goods. Reconciling the purchase order with the invoice received again for value of goods. Checking the due dates of the invoice. Checking the due dates of the invoice. Checking the description of goods in the invoice with the order placed. Checking the description of goods in the invoice with the order placed. Any Advance payment made to the supplier against the purchase order. Any Advance payment made to the supplier against the purchase order. Status of defective goods, received and goods returned. Status of defective goods, received and goods returned. Debit note issued by vendor. Debit note issued by vendor. Verification of taxes charged on the gross amount. Verification of taxes charged on the gross amount. Any other on spot verification or auditing. Any other on spot verification or auditing.

5 METHODOLOGY OPTED FOR A/P BY RENUKAS SEND INVOICES WITH ACCOUNTS PAYABLE ST. :AUDITING: QUALITY CHECK : FINAL OUTPUT

6 THANK YOU PRESENTED BY RENUKA INFOCOM PVT LTD Aggarwal Millenium Tower, Netaji Subhash Place, Pitampura, New Delhi, India – CEO, ROHIT GARG (C.A.) US Toll Free : GSM :


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