Invoice processing is a basic part of any business activity. This forms the basic activity for either product or service in exchange for the value and as evidence of such a transaction, invoices form the very basic document. The number of invoices depends on the transactions; these are voluminous, and one can feel overloaded with the number of invoices that needs to be processed. Inaccuracy in invoice processing can result in serious litigation and even revision of the invoices all of which takes additional resources and affect business efficiency.

Business deals with two invoices:
Invoice based on Purchase Order (PO) and Invoice based on Non-Purchase Order (Non-PO).

Both are to be processed by the Accounts Payable Department. While invoice processing can be handled manually or by way of automated software, but manual invoice processing can be time-consuming. Capital Investment in automated software may not be cost-effective for some. An effective and easy way to tackle this process is to outsourcing invoice processing. AFCOS provide invoice processing services so that it helps clients achieve high-level efficiency while helping to speed up the accounts payable and receivable service.

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Invoice Processing Services provided by AFCOS

AFCOS has been offering invoice processing services to businesses of all sizes and engaged in various industries. We have served small and mid-sized businesses and helped them rationalise their accounting processes, tax calculation, payroll management and aid them to lower the capital cost for such service.

•    High-end invoice processing software
•    Matching the invoices with purchase orders issued by you and your clients.
•    Checking of the scanned invoices
•    Arrangement for obtaining the scanned invoices from your client
•    Reconciliation and audit of the scanned invoices
•    Tracking of every transaction
•    Ensuring Data Entry
•    Assisting in issue of PO receipts for suppliers’ invoices
•    Document Indexing
•    Generating reports
•    MIS

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Our Process for Invoice Processing

Sharing Invoices - The invoice can be shared either by email or via cloud storage services
Processing of Invoice – The invoices are reviewed and analysed by our accountants  to check for any inaccuracy.
Invoices Sent – After the invoices are processed, the data entry process begins into the accounting software of your own choice.

Our Process for Invoice Processing

Reasons why you will benefit from outsourcing invoice processing services by the expert team at AFCOS :
Cost Implications - Save on cost of  in-house invoice processors or the long-term cost
Efficient – Easy access to fast and efficient invoice processing even within a short period without compromising on accuracy
Consistent Report - We provide reports of all the invoices and reconciliation summary statements within the agreed period.
Qualified Team – Ready access to our invoice processing experts who are experienced and qualified with accuracy.
Confidentiality – Data is stored in cloud storage.