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Accounts Payable
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Accounts Payable has to do with recording of bills and receipts, processing payments, setting up vendors in your accounting system as well as issuing 1099-Misc forms at the end of the year.

Examples of Accounts Payable
  •   When goods and services are purchased on credit and billed at a later time, accounts payable must process the bill for payment on the due date.
  •   When goods and services are purchased and paid with cash, a receipt is provided which has to be accounted for and recorded in QuickBooks to the proper general ledger expense account.
  •   To pay a vendor it is important to have certain documents on hand. The standard documents are: purchase order, packing slip or acknowledgment for receipt of goods and services, and invoice.
Accounts Payable tasks that our bookkeepers will assist you with:
  •    Vendor Setup
  •    Matching vendor bills to purchase orders
  •    Recording vendor bills and receipts to the proper general ledger account
  •    Vendor payment processing via check, wire transfer, or ACH
  •    Accounts Payable Vendor Aging report
  •    Preparation of 1099 Misc forms for Independent Contractors

We’ll take the time to learn about your business then develop a customized plan
to meet your company’s bookkeeping, accounting, financial analysis and
financial systems needs.

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