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Accounts Payable Best Practice using ProcureHQ

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2 minutes to read

Details the 5 simple steps on how to use ProcureHQ to achieve best practice in accounts payable. Covers how ProcureHQ can help with cloud based software to integrate automatic with accounting systems such as Sage 50cloud, Xero and Quickbooks.

Account Payable best practice can be achieved if you follow the following simple 6 step process:

  1. Eliminate or minimise low value tasks

    Your accounts team are critical to the successful operation of the company. You need to maximise their skills and experience.
    Removal or reducing any low value time consuming tasks that the accounts team perform is essential. Performing paper work or manual data entry are likely to be low value tasks.
  2. Separate email for accounts payable

    A separate email allows easier management of invoices in a single place with a clear separation of concerns.
  3. Approval process

    Your approval process needs to

    > Open and transparent so that you instantly see bottlenecks or problems.
    > Configurable to match your company procures and practices for simple single approver or a complex multi-user approval.

    ProcureHQ provides a customisable approval process to fit in with common practices. If you have special requirements then let us know and we can see how we can help.
  4. Accounting System Integration

    Your accounting system needs to be current and up to date. ProcureHQ can be easily configure to automatically update your accounting systems with approved invoices.
  5. Automatic Prices checking

    Make sure you are paying the correct price. Supplier prices rises can easily be hidden in amongst all the data in invoices.

    ProcureHQ has an automated price checking capability which can be easily configured to suit your needs.
  6. Real time reporting

    You need to know the current status here and now. Processing of received invoices needs to happen straightaway.
    ProcureHQ processing of received emails is virtually instantaneous.

See out other blog posts about how ProcureHQ can help you.