USA PAYABLE MANAGEMENT
Accounts payable, located on a company's balance sheet, are what the company owes its suppliers or the vendors from which it buys its inventory and other supplies. Accounts payable are a current liability, and they are listed on the right-hand side of the balance sheet. They are expected to be repaid to the suppliers within one year. Accounts payable are just like the unpaid bills you have as an individual.
Just like any other asset or liability, accounts payable, your company's unpaid bills can have a big impact on profitability. They can either improve company profitability, or they can cause it to really take a hit.
Meru’s Solution for managing your Account Payables:
Offers for specialized services for write-up that provides coverage in varied bookkeeping actions such as receivable and payable accounts, reconciliation of accounts and other add-ons. The write up services that are provided by Meru Accounting caters to varied bookkeeping operations, in a cost convenient and skilled expertise manner, that involves:
- Received Bills: Meru Accounting keeps a track record of all the bills received under your company’s name. It ensures a regular update on the bills generated.
- Data Storing: All the bills received under the companies name are stored in the accounting software. Bill.com is an excellent software to record all your bills at one place.
- Forecast: Based on the data collected, our team of expert accountants shall keep you updated with the effect of your credits on your company's net profit. This shall help the ship stay afloat even during the adverse effect.
- Payments: It is our responsibility to remind you over timely payments of the bills. We shall make sure that there are no overdue beyond the given time limit.
- Vendor Reconciliations: It is crucial that business operations maintain good relationships with their suppliers. The single most important thing a company can do to maintain good supplier relationships is to pay its bills on time. In case of unpaid bills the vendor- supplier relationship may get hindered and cause strain on the supply chain of products. Thus, Meru ensures Vendor Reconciliations for smooth flow of supplies.
- Vendor Inventory: As the company grows manifold, so does its inventory of suppliers. It is thus a difficult task to keep an eye on all the suppliers and their dues. Meru keeps a record of all your suppliers. Thus, providing you an easy overview look.
- Vendor communications: Good supplier relationships provide a win-win situation for the company and the supplier. Suppliers will cut good deals for the company and suggest new and better products. They will work with the company on delivery time and policies. Meru is your one point contact. They ensure a healthy and effective communication channel between the company and supplier.
- W2/W9 Form: Meru also offers to collect and keep all your data organised for federal and state taxes. The IRS requires employers to report wage and salary information for employees on Form W-2. Form W-9 is used in a business–contractor arrangement. Businesses can use Form W-9 to request information from contractors they hire. When a business pays a contractor in excess of $600 during a tax year, the business is required to file Form 1099-MISC, a variant of Form 1099. Thus, keeping Tax returns easy.
Keeping your account payable on track will help you develop better vendor-supplier relationship. Meru Accounting is your solution for delegating your work to the best team of effective accountants. They are updated and well versed with the recent change in market and technological updates to keep a track record of your accounts.
Through your Payables being managed timely we develop good supplier vendor relationship, which indeed provides us with the best products and offers from the supplier. It manages your cash flow and which indeed helps us predict the net profitability of the company. There will be no duplicate or double bill payments.
As the saying goes, “The best way to grow is to develop a Great Team”. Meru Accounting is your reliable and efficient partner.