Accounts Payable – streamlining your bills processing, automating
Multiple Bills Processing and Authorising?
Of all the industries we have experience with, the building industry is without doubt still the most paper intensive in relation to the volume of bills that are received & processed – along with the points of contact within a company. What do I mean? Let’s see; administration (entry), estimator (product procurement), supervisor (authoriser), construction manager (approver), accounts (payment processing), BAS Agent (tax lodgement). This is a great reason to go the extra mile and attach a copy of each bill entered within MYOB or XERO. Why? Well:
- You don’t need to store a piece of paper
- Multiple people can review in offsite locations where you have a centralised accounts area but multiple offices
- Electronic doesn’t fade with time
- Copies are easily downloadable
- Supervisors on site can view through mobile applications
- BAS Agent can check tax codes if in question before preparation
- It is available for the ATO to audit if this ever occurs
Both MYOB and XERO have the ability to store attachments. MYOB has an intray and XERO has an inbox. You can also use apps like Receipt Bank in conjunction with XERO or Shoe-Boxed with MYOB or XERO if you want great flexibility, time saving functionality and remote processing.