Duplicate Payments can disappear inside an Accounts Payable system

Accounts payable audit are necessary for any corporation which suspects it may be at risk of making duplicate payments, invoice payment mistakes or other financial hiccups – which can have a far-reaching and long-lasting effect on a company with a extensive accounts payable department. If a business is paying many different contractors and service providers, in can be easy to lose track of just how accurate its payments are. In the case of a company operating with out-of-date or ineffective systems, these payments can spiral until they represent significant losses.

That’s why most accounts payable departments commonly use a recovery audit, to see just where they’re misplacing money. However, recovery audits can be costly in themselves, and cumbersome, if the appropriate technologies are not in place. Increasingly, accounts payable audit are at their most effective when paired with recovery audit software that automatically sees flaws in accounting and invoicing systems. This includes the identification of inaccurate or duplicate payments, overpayments, missed discounts, currency conversion errors, unclaimed cheques, incorrect tax adjustments and even attempted fraud.

Due to the expense and complexity of good-quality recovery audit software, most firms use services that provide them with built-in tools. Because these tools are the main function of an accounts payable software company, rather than a sideline, the company can invest a lot more in keeping them up to date and at maximum productivity – basically, hundreds of clients will share the cost of one software system, and have the hassle taken off their backs.

Generally, recovery audit software is accessed online, with clients able to check in on the process and see results in an accessible format whenever they want to. No more waiting for office staff to come up with reports or worrying about what they might have mistaken – the software is kept backed up and up to date by the company supplying and operating the software. Much of this software includes prevention tools that make recovery audit a constant process, rather than a regular labourious task: and make sure that mistakes, frauds and overpayments are stopped at once. For some large companies, this represents a saving of millions of dollars, even before they factor in the staff time and office resources that have been freed up by relying on a software system. Many systems will even automate historical claims to debtors or contractors, so that the lost revenue is back in the company’s account as speedily as possible.

In the realm of accounts payable audit, this software can be an indispensable tool. Human error is all but eliminated, and employees can breathe easily, knowing that they’re not throwing away money through mistakes that get lost in the net.

Please visit http://www.fiscaltec.com/uk for further info.

 

Golden Boy Coaches: Coach Hire London without the hassle

For experience, simplicity, and peace of mind, Gold Boy Coaches is your first choice in luxury coach hire and minibus hire in London. Whether you are planning a school trip, private outing, or business function, Golden Boy Coaches have the know-how and the capacity to get you to your destination in style and comfort, every time. Our experienced drivers, local knowledge and no-nonsense quotation system mean that you can organise the events and outings that you need to, safe in the knowledge that transport will not be a problem.

When it comes to luxury coach hire, Golden Boy is the last word in professionalism. All our drivers are subject to a stringent training programme which we carry out ourselves, in our own training facility. Unlike some coach hire London or minibus hire firms, we pride ourselves on keeping fastidiously up to date with the latest international standards, which is why all our drivers hold a CPC (Certificate of Professional Competence). Our drivers are proud to wear our uniform – and we are proud that our uniform is worn by them. When you see the distinctive livery of Golden Boy coaches, you can rest assured that you are in the presence of the very best in the industry. But don’t take our word for it – our commitment to safety has been officially recognised by the UK coach safety rating system BUSK, which has awarded Golden Boy the maximum rating of six stars.

Coach hire london requires specialist knowledge, and lots of it. We operate from our purpose-built base in Hoddesdon, on the borders of Essex and Hertfordshire, where our family-run business has been based since its foundation in 1968. The mix of a local setting, a long history and a family ethos means that we have built up a large store of knowledge and connections which are vital to running an effective London coach hire service. That’s knowledge which often escapes other coach companies.

But just because we’re long-established doesn’t mean we are nostalgics. We are no stick-in-the-muds: we are dedicated to investing in our fleet to make sure that you can enjoy the most up-to-date luxury coach hire experience possible, with drinks machines, CD and DVD players, air conditioning, bathrooms and many more features that provide you with top-of-the-range service.

 

Please visit http://www.goldenboy.co.uk/