EXECUTE FINANCIAL TASKS RAPIDLY AND ACCURATELY WITH OUR SPECIALISED SUPPORT
Würth Business Services handles the non-core financial operations to support your Finance Team in speeding up the accounting processes. Our Team ensures that you maintain error-free and detailed accounting records, settle payments on a timely basis, and maintain a strong relationships with vendors. We handles different processes under the Accounts Payable and Accounts Receivable portfolio. You can accelerate the efficiency of your business operations through effective handling and management of financial processes by us.
ACCOUNTS PAYABLE
INVOICE VERIFICATION & POSTING OF INVOICES
We verify the invoices sent by vendors and upload them in SAP system upon successful verification. We compare different details, including date, bank details, price, purchase order number, item number, and others, mentioned in vendor invoices with details mentioned in the goods receipt. Our service, posting of invoices in SAP, helps in keeping the track of inventory, scheduling payment runs, and ensuring a seamless accounting process.
MAKING PAYMENTS TO VENDORS & HANDLING QUERIES
Upon the successful verification of vendor invoices, we process the payments by scheduling a payment run in an ERP system. As a payment processing outsourcing provider, we ensure the timely payments. However, if there are any issues related to payments and vendors raise a query, we resolve it as soon as possible by coordinating with purchasers and vendors. We coordinate with purchasers and vendors, and assist in maintaining a healthy business relationship.
ANALYSE VENDOR OPEN LINE ITEMS
We compare the balance sheet figures with overdue invoices of vendors. We track the overdue invoices that need to be paid as soon as possible. We prepare a report for overdue invoices and share the master file containing the report with the customers. This service helps in determining the overdue invoices of vendors and scheduling payments as soon as possible.
ACCOUNTS RECEIVABLE
SCHEDULING A DUNNING RUN
We schedule a dunning run on a weekly basis for those customers who have not made the payments for dues or overdue invoices. We use a professional approach in sending the payment reminder emails to customers. We also share the monthly statement of accounts with customers. By sending payment reminder calls and messages, we help in availing the payments on time and availing the accurate information about the outstanding payments.
SETTLING CUSTOMER PAYMENTS & QUERIES
Würth Business Services undertakes an end-to-end assessment of our customers' bank account statements to carry out improvisation. The credited amount in the bank is compared, analyzed and verified with the amount booked in the finance system to determine absent payments.
BANK RECONCILIATION
We compare, analyse, and verify the bank statement with the invoices in the ERP system. If there are any differences, we analyse the missing payments and schedule a dunning run. This service helps in knowing the pending payments from customers and provide discounts to those customers who made early payments.