Bill payment is often one of the biggest pain points for business owners. Some of the pains involved with bill payment include:
- Signing checks – the hassle of being at the office to sign checks
- Signature stamps – the risk of signature stamps being used inappropriately
- Check fraud – every time you pay by check you are advertising all the bank information a fraudster needs to commit check fraud
- Payment fraud – other forms of fraud can be so easy to commit if the appropriate accounting controls are not in place
- Efficiency – wouldn’t you like to see if there is a more efficient way to handle this back office function?
One of the most common services our clients request is our bill payment services. That’s usually because their internal processes are inefficient or they’re concerned about fraud. Our bill pay service is efficient, electronic and secure.
When you outsource your bookkeeping and accounting to e:countable, you gain the benefits of having a full virtual accounting department. A few of these benefits include:
- A team is assigned to your account, not just one bookkeeper. Your team includes your primary accountant, a second accountant who performs reconciliations and backup to your primary, and a controller who oversees the accounting for your business
- With our team approach, there is segregation of duties to mitigate the risk of errors and fraud
- Our systems and processes are all electronic, allowing you to be anywhere in the world and still control what is approved to be paid and, therefore, your cash flow. We’ve built our platform to improve flexibility for you, the business owner, all while enhancing controls.
- Our systems and processes also provide for stronger privacy, confidentiality, and transparency than most companies currently have.
To get a better idea of the actual payables and bill payment process, click here.