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How Accounts Payable Professionals Can Help You

Accounts payable (AP) is an accounting entry that represents money that a business owes to their suppliers. The supplier is known as the creditor. The short term debt is shown as a liability on the company’s balance sheet and quite often under the heading current liabilities. These transactions are recorded in the accounts payable sub-ledger when an invoice is verified for payment. This is generally referred to as vouchered or vouched and indicates that an invoice is authorized for payment. Freelance AP specialists are easy to find on to organize your payables as trade payables or expense payables. Trade payables refer to purchases of physical goods and inventory. Expense payables are generally purchases of advertising, travel, office supplies and utilities. Accounts payable can be considered a form of credit where businesses allow their clients to pay for a product or service after a certain period has passed. These payment terms are negotiated and agreed on before the sale commences. High skilled AP clerks ensure that payment terms are met and can negotiate a discount for paying an invoice within a certain time frame.

When an AP department receives an invoice for payment, the accounts expert records the transaction as a debit in the payables field. When the bill is settled, the payment is recorded as a credit to show that the debt is paid. When invoices are processed effectively it has a positive effect on turnaround time. This results in operational efficiency and most importantly your businesses bottom-line. On Guru, you will find experts that are able to reduce costs, effortlessly increase accountability and reduce your workforce. Furthermore, an AP specialist provides accurate financial reports, helps you with avoiding late payments and provides you with the ability to predict your cash flow. Hire a beneficial freelance AP expert today!

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Pay by Milestones

Milestones are like checkpoints you create to ensure you're happy with the work every step of the way. Build as many milestones into your job as you want — set a due date for each milestone and the amount to be paid.

Pay by Task

Pay for a single completed task, however big or small. Create and assign tasks for work as needed, and generate invoices from each task once they are completed.

Pay by the Hour

Track progress with ease and confidently pay freelancers by the hour. Use our TimeTracker software to see in the moment updates of work being done. Hiring multiple freelancers for your job? Stay organized with a breakdown of each freelancer's hourly rate and time tracked.

Pay Using Recurring Payments

Easily pay your go-to freelancers on an ongoing basis. Set up to four recurring payment rules for any given job — pay every week, every other week, every month, or every quarter. Stop or Resume payments at any point with just a click of a button.

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Apr. 2018

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