are several departments in a company that are important. Many
consider the sales department to be the most important. Others
believe that it is a tie between the sales and marketing departments.
This puts the accounts payable department in third place, at least.
The accounts payable department ultimately determines a company’s
profit, so you are encouraged to set up proper checks and balances.
Here are three reasons why the post payment audit process should be continuously improved.
it Right the First Time
company’s books have to be audited at certain intervals to ensure
that there are no mistakes. Even when the mistakes go in your favor,
additional man hours have to be allocated to correcting the error.
So, you are encouraged to bring on only the best staff to handle this
department. This improves the chances that they will complete tasks
correctly the first time.
the Time Needed
efficient staff completes the auditing in less time when there are no
mistakes that need to be corrected. You can also hire consultants to
help you. Since consultants are a third party, they can bring a fresh
perspective to the table.
the Amount to Get Back
even when errors go in your favor, man hours have to be dedicated to
getting the money back. Plus, it is not always easy because your
business partners are going to double check their books.
For more information about improving the post payment audit, visit Belmero Inc. at https://www.belmero.com/ today.
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