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Accounts Payable: Definition and Process

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What is accounts payable ? What is accounts payable? Accounts payable is short-term obligations (aka bills) due to vendors for services or goods received. What are examples of accounts payable? Every vendor bill you receive in email or paper mail is part of your accounts payable.

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The Biggest Challenge Facing Accounts Payable

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The biggest challenges facing accounts payable are chaos, maintenance cost, and fraud. Bring order to Accounts Payable. Accounts payable is a non-revenue-generating expense which best in class businesses minimize. Minimize fraud risk Accounts payable is the number one source of fraud in small businesses.

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Financial Ratios to Manage Accounts Payable

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Managing accounts payable is critical for any business to maintain healthy cash flow and vendor relationships. Financial ratios are essential tools that help companies evaluate their financial performance, including their ability to manage accounts payable effectively. What is accounts payable in ratio analysis?

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Want to outsource your accounts payable? What to look for

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Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. What to look for in an accounts payable company. Educate your team about fraud schemes. The post Want to outsource your accounts payable?

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CFO vs Controller – What’s the Difference?

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It’s not unusual in a small company for the accounting manager to become the controller and then become the CFO. But without the requisite education, mindset, and experience, just having more years on the job doesn’t prepare the person for that role. Let’s look at these two roles: CFO vs. Controller: What’s the difference?

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Managing Security Risks with Virtual Bookkeeping

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Busy small business owners unable to keep up with their books often consider outsourced CFO services as a cost-effective solution. Reputable outsourced CFO firms adhere to best practices and technologies that elevate financial security, such as separation of duties, best-in-class password management, and continuous fraud education.

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3 Types of Invoice Fraud and How to Prevent it

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Accounts payable is the most common source of fraud in a small business. Both internal accountants and external hackers target weak AP processes to steal money since it is the business process most vulnerable to fraud. What are some of the common fraud attempts in accounts payable?