Accounts Payable Services

Even with the most advanced IT systems, first rate processes and most stringent controls in place, it is still possible for businesses to lose money due to duplicate payments and other over-payments being made to Suppliers.

There is a balance to be struck between preventing over-payments and over-resourcing and/or over-complicating the Accounts Payable process.

According to industry studies, over-payments to Suppliers can account for around 0.1% to 0.5% of total Accounts Payable spend. A business spending £500 million per annum could be losing between £500,000 and £2.5 million in over-payments.

Amongst the most frequent root causes of overpayments are human error (such as miss-keyed input), duplicated Supplier entries, inadequate training of new or temporary staff and IT system migrations.

When not captured by internal controls, these over-payments are sometimes discovered by chance; a Supplier might notify you that they have received a payment twice or a budget manager might investigate why they have shortfall.

Our Accounts Payable Services are geared to maximising recoveries for your business whilst giving you an indication of where weaknesses prevail and improvements can be made. Three complementary reviews are conducted which identify possible over-payments and other losses. We then handle the verification and recovery keeping the input required by your staff to a minimum.

Duplicate Payment Reviews

We review the complete history of your Accounts Payable transactions for the last 4 to 6 years to identify and recover duplicate payments and over-payments made to the Client’s Suppliers.
Learn more about our Duplicate Payment Reviews...

Unclaimed VAT Reviews

Utilising the same source data as the Duplicate Payment Review, our 100% review of Accounts Payable transactions involves the identification of potentially unclaimed VAT which is then verified to copy invoices and any subsequent internal journals before scheduling for submission to HMRC.
Learn more about our Unclaimed VAT Reviews...

Supplier Statement Reviews

We obtain and review Supplier Statements to identify Supplier credit notes not accounted for or recovered in the Client’s ledgers. Our reviews also identify invoices unpaid in the Client’s Purchase ledger but not reflected on the Supplier’s statement, thus enabling the value of the invoices to be written back to profit.
Learn more about our Supplier Statement Reviews...

Our Fees

All of our services are provided on contingency basis, we only charge based on what we recovery for your organisation.