Streamlining Accounts Payable Santa Rosa

How Bookkeeping Services Can Help

Streamlining Accounts Payable Santa Rosa... I can almost hear you say: Yes, just show or tell me how!

In order to maintain a balanced ledger, businesses need to maintain accurate records of their accounts payable. Unfortunately, in my experience, many Santa Rosa businesses struggle to retain accurate records of all their accounts payable transactions.

The accounts payable process can be especially arduous and costly for large franchises, as Bill Goldenburg of HLC Franchises has pointed out. Goldenburg chose to hire a bookkeeping agency to streamline the process for him. Hiring a company to handle your bookkeeping can save a considerable amount of time. However, business owners should still understand the steps involved to reduce the time involved while collaborating with their bookkeeper.

Improving Efficiency of Accounts Payable Processes

Santa Rosa businesses face a number of pressing challenges every day. They need to pursue innovative solutions to operate their businesses more efficiently and address their priorities. Recording transactions and streamlining accounts payable Santa Rosa transactions can be arduous and time-consuming, so smart business owners must look for new ways to streamline the process. Here are some tips every business in Sonoma County should consider.

1. Streamlining Accounts Payable Santa Rosa – Using Bookkeeping Software

Businesses have used hard copy ledgers to record accounts payable and other financial transactions for centuries. However, modern technology has rendered paper records obsolete. There are a number of exceptional bookkeeping applications on the market, which have various features allowing you to streamline your accounts payable processes. Here are some accounting software features when streamlining Accounts Payable Santa Rosa business owners should familiarize themselves with.

1.1 Quickbooks

The newest version of QuickBooks provides an accounts payable register that allows you to enter data much more quickly. You may want to consider upgrading to QuickBooks Pro 2014 if you need to document a number of accounts payable entries. Intuit provides the following guide on using the accounts payable register feature.

1.2 Peachtree

The Peachtree accounting program also provides features to manage accounts payable more efficiently. You can organize transactions by vendor, which is a very helpful feature if you have multiple bills from a vendor. 

You can record accounts payable entries much more quickly by documenting details from all vendors at a time, especially if the transaction information for each entry is similar. You can generally copy-and-paste redundant information pertaining to similar transactions, which can reduce time spent entering your A/P entries considerably.

1.3 MYOB

MYOB Plus has some great features for multiple departments to manage their accounts payable in a centralized location. The premium version comes allows companies to store their data in the cloud, so multiple administrators and department managers can enter and edit data.

Many Santa Rosa businesses are expanding their operations and hiring additional managers. Some business owners have offices in Windsor, Petaluma and other locations throughout the county. They may want to look into the cloud based solutions MYOB provides.

2. Streamlining Accounts Payble Santa Rosa - Organize Bills Carefully

Utilizing the latest accounting software is undoubtedly beneficial for streamlining your accounts payable process. However, it is essential to recognize that effective management of your bills is equally crucial. Keeping track of invoices and ensuring their accurate recording before entering the data into your ledger or accounting software can significantly improve efficiency. To help you organize invoices from vendors, here are some additional tips to consider:

  1. Create Separate Folders: Maintain separate folders for each customer, allowing for easier sorting and retrieval of bills. Organize the invoices chronologically within these folders, enabling quicker access to specific documents when needed.
  2. Include Order Numbers: Always include the order numbers on your bills. This practice helps prevent duplicating data entry and reduces the chances of errors. By referencing order numbers, you can streamline the accounts payable process and enhance accuracy.
  3. Embrace Electronic Billing: Whenever possible, opt for electronic billing. Storing electronic copies of bills provides several advantages. You can easily search your computer's hard drive for any missed accounts payable transactions, improving accuracy and efficiency. Maintain a centralized master folder for all electronic bills and create subfolders for individual vendors to ensure proper organization.
  4. Maintain Vendor Contact Information: It is essential to include vendor contact information on every bill. This ensures that you have readily accessible details if you need to communicate with the vendor regarding any discrepancies or inquiries. Keeping vendor contact information up to date helps maintain accurate accounts payable entries.

Recognizing the importance of organizing bills is paramount, as it is often an overlooked aspect of the accounts payable process. By implementing these additional practices, you can further streamline your operations, improve efficiency, and reduce the risk of errors or missed transactions. Effective management of invoices contributes to the overall success of your accounts payable workflow.

3. Santa Rosa Shouldn’t Waste Time on Accounts Payable

There are a number of ways for streamlining accounts payable Santa Rosa businesses should take into consideration. You will want to develop a system to implement your accounts payable process more quickly. Running a business in Santa Rosa is a lot of work, so don’t waste time on mundane tasks such as recording accounts payable data.

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