Paying bills and maintaining accounts will always be part of business. Whether it’s the occasional order to pay for or a fully staffed accounts payable department managing thousands of invoices. By implementing best business practices you can streamline your accounts payable process and be prepared for future growth. Schemax help you successfully manage your accounts payable.
Reduce errors such as paying incorrect amounts, incorrectly entering check numbers used to pay vendors, and paying too early or too late.
Set up accounts payable module correctly so that transactions flow properly. Schemax can even run aging reports so you may know what is in the pipeline. You may have a small check run this period, but could have a large one coming up that you didn’t know about until looking at these reports.
Accounts system automatically, marking which invoices have been paid and with what check numbers.
Implement policies & procedures to mitigate the risk. In the above example, have system parameters set so that the person cutting checks do not have the ability to set up new vendors. Each new vendor that is set up should require explanation to the owner prior to creating them.
Most of the Schemax financial projects are using Accounts Payable Process.