Invoice Processing
Invoice Processing
Say goodbye to human error, late payment fees, manually filing, and long processing hours.
Supplier Invoice Processing
Invoice processing is a procedure in any business which begins when a supplier invoice is received with an amount payable by the receiver. The client will be expected to transfer payment of said amount by an agreed timeline, and a notification is then sent to the vendor to inform them of the completed remittance of payment.
Customer Invoice Processing
As an outsource service provider, InTune Outsourcing not only processes invoices received on our clients' behalf, we also handle the company's invoicing, where we are the preparer of their invoices so their clients can pay them. We forgo the traditional paper method and use an accounting software to create and store reports and documents, which automatically follows a complete, standard, efficient, and automated flow.
Say goodbye to human error, late payment fees, manually filing, and long processing hours.
Supplier Invoice Processing
Invoice processing is a procedure in any business which begins when a supplier invoice is received with an amount payable by the receiver. The client will be expected to transfer payment of said amount by an agreed timeline, and a notification is then sent to the vendor to inform them of the completed remittance of payment.
Customer Invoice Processing
As an outsource service provider, InTune Outsourcing not only processes invoices received on our clients' behalf, we also handle the company's invoicing, where we are the preparer of their invoices so their clients can pay them. We forgo the traditional paper method and use an accounting software to create and store reports and documents, which automatically follows a complete, standard, efficient, and automated flow.
The Process and Management
The accounts payable (henceforth will be addressed as “AP”) clerk of the company, when receiving the invoice, verifies the details with the requester of the purchase to make sure that it is valid and accurate. The details include the items of purchase, date, price, discount or discounts, credit terms, voucher (if any), and balance.
If a Purchase Order (“PO”) was created during the procurement, the AP clerk will match the invoice with the PO to confirm the details and cost, making sure that the amount to be paid is correct, and the purchase was authorized.
Once the AP clerk receives an approval, the invoice is posted into the accounting system of choice, and the payment is remitted to the suppliers via online or through electronic e-payment channels.
If a Purchase Order (“PO”) was created during the procurement, the AP clerk will match the invoice with the PO to confirm the details and cost, making sure that the amount to be paid is correct, and the purchase was authorized.
Once the AP clerk receives an approval, the invoice is posted into the accounting system of choice, and the payment is remitted to the suppliers via online or through electronic e-payment channels.
Why is Invoice Processing Important?
At InTune Outsourcing, we follow strict processing steps to ensure your money is going where it’s supposed to go. Firstly, to ensure payments made are authorized for legitimate purposes, and secondly, to prevent double payments, fraud, and possible human errors when handling large amounts of data and paperwork.
The Process and Management
The accounts payable (henceforth will be addressed as “AP”) clerk of the company, when receiving the invoice, verifies the details with the requester of the purchase to make sure that it is valid and accurate. The details include the items of purchase, date, price, discount or discounts, credit terms, voucher (if any), and balance.
If a Purchase Order (“PO”) was created during the procurement, the AP clerk will match the invoice with the PO to confirm the details and cost, making sure that the amount to be paid is correct, and the purchase was authorized.
Once the AP clerk receives an approval, the invoice is posted into the accounting system of choice, and the payment is remitted to the suppliers via online or through electronic e-payment channels.
If a Purchase Order (“PO”) was created during the procurement, the AP clerk will match the invoice with the PO to confirm the details and cost, making sure that the amount to be paid is correct, and the purchase was authorized.
Once the AP clerk receives an approval, the invoice is posted into the accounting system of choice, and the payment is remitted to the suppliers via online or through electronic e-payment channels.
Why is Invoice Processing Important?
At InTune Outsourcing, we follow strict processing steps to ensure your money is going where it’s supposed to go. Firstly, to ensure payments made are authorized for legitimate purposes, and secondly, to prevent double payments, fraud, and possible human errors when handling large amounts of data and paperwork.
How InTune Outsourcing Does Invoice Processing
A single company may process hundreds of invoices in a month. To our customers, it makes more financial sense to outsource to an accounting firm and get their professional team involved, compared to paying the same fee to hire a dedicated employee to manage this task.
As InTune Outsourcing is the entire Finance Department for most of our clients' companies, we are responsible in managing their AP processing within a planned and agreed frequency and timeframe. Our clients will send us all their invoices and bills as and when needed, and our AP team follows a strict processing workflow agreed with clients such as matching PO to Delivery Order (“DO”) to Supplier Invoices to ensure legitimacy and accuracy. Once the client has approved, the money will be released to their vendors.
We invest in state-of-the-art accounting software and technology to reduce mistakes, improve accuracy while entering data, increase productivity, and avoid late payment costs and penalties. By embracing automation, we allow our clients to maximize their effective time with income producing activities and reduce manual labour, all while increasing our own efficiency in handling tedious, nerve-racking tasks on behalf of our clients.
A single company may process hundreds of invoices in a month. To our customers, it makes more financial sense to outsource to an accounting firm and get their professional team involved, compared to paying the same fee to hire a dedicated employee to manage this task.
As InTune Outsourcing is the entire Finance Department for most of our clients' companies, we are responsible in managing their AP processing within a planned and agreed frequency and timeframe. Our clients will send us all their invoices and bills as and when needed, and our AP team follows a strict processing workflow agreed with clients such as matching PO to Delivery Order (“DO”) to Supplier Invoices to ensure legitimacy and accuracy. Once the client has approved, the money will be released to their vendors.
We invest in state-of-the-art accounting software and technology to reduce mistakes, improve accuracy while entering data, increase productivity, and avoid late payment costs and penalties. By embracing automation, we allow our clients to maximize their effective time with income producing activities and reduce manual labour, all while increasing our own efficiency in handling tedious, nerve-racking tasks on behalf of our clients.
Every SME Can Become Large
InTune Outsourcing - Creating Financially Driven Businesses and Entrepreneurs.
Every SME Can Become Large
InTune Outsourcing - Creating Financially Driven Businesses and Entrepreneurs.
About InTune Outsourcing Services
Quick Links
InTune Outsourcing was founded in 2007 as an outsourcing and business consultancy firm geared to the needs of small and medium sized enterprises.
About InTune Outsourcing Services
Quick Link
InTune Outsourcing was founded in 2007 as an outsourcing and business consultancy firm geared to the needs of small and medium sized enterprises.
About InTune Outsourcing Services
InTune Outsourcing was founded in 2007 as an outsourcing and business consultancy firm geared to the needs of small and medium sized enterprises.