Payments and payables

Making sure that spend is controlled and bills are paid on time are key priorities for the finance function. Modern

accounting software⁠

will easily help track orders, payables and bills received - our guide on trickier aspects are detailed below:

Payments and Payables Cycle

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Invoice and Receipt Management⁠

⁠

Invoice management tools can help with the collation and accounting for expenses incurred.

⁠

Bulk payments⁠

⁠

To scale, paying your bills can’t require individual, manual entry at bank. Some

business banks⁠

are better than others and other alternative solutions exist to make the process easy.

⁠

VAT⁠

⁠

Coding your VAT on payables correctly will ensure your business reclaims all rightful tax back and ensure tax audits are a breeze.

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