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Make Your Accounts Payable Processing Streamlined and Effortless with the Virtuous Bookkeeping.

Virtuous Bookkeeping specializes in delivering seamless accounts payable (AP) services within the GTA, resulting in improved speed, lower costs and efficiency for any organization. Our mission is to help businesses increase their focus on value-added tasks while we transform their AP process into a value-generating, strategic arm enabling greater savings and improving supplier relationships.

How Our AP Service Adds Value

We take pride in calling ourselves one of the most trusted accounts payable outsourcing solution provider in Toronto. We provide industry best practices that translate into enhanced profitability. Here’s how we add value to your business.

• 24×7 assistance through virtual communications with readily available up-to-date information
• Highest-level of security of customer data
• The best-in-class service management tools and security infrastructure
• In-depth analysis of issues to avoid paying fines or interests for late bill payments
• Automatic handling and processing of invoices with the latest software and cloud storage
• Use of appropriate channels for exception reporting and handling
• Tracking of payables outstanding by vendors
• Customized services to meet business needs
• Timely payment of bills leading to freeing up of working capital which will assist in fueling growth
• Follow up on and settlement of unreconciled items on a timely basis
• Dedicated teams for separate projects to avoid overpayment or duplicate payment
• Well-managed end-to-end accounts payable function to ensure accuracy and process optimization

At the Virtuous Bookkeeping, we have proven expertise in the AP process. Our team of dedicated bookkeepers, account managers, reviewers and professional accountants have the right experience to help you unlock more value from your accounts payable.

 

How We Handle Your Accounts Payable

At the Virtuous Bookkeeping, we aim to simplify and streamline your accounts payable process so you never miss a payment. When you choose our accounts payable outsourcing services, here are the steps we follow:

Step 1 We receive a scanned or soft copy of your invoices.

Step 2 Invoices are saved in the pending files folder.

Step 3 We have you approve the invoices to avoid double payments.

Step 4 Invoices are paid online using your preferred method of payment.

Step 5 We send a weekly or monthly report on cash usage.

We ensure all aspects of payments are completed in the least amount of time.  With a proactive approach, we identify errors, rectify them and eliminate the risk of duplicate payments. We also prepare a detailed report that you can easily access.

Why You Should Outsource Your Business’s Accounts Payable

Accounts payable outsourcing increases your business’s efficiency and value. Here’s how:

  • An accounts payable service provider brings the latest technology, tools, and expertise to the table. Hiring outsourced experienced accounting professionals also costs less than hiring them in-house.
  • Your invoice copies and statements are processed quickly because that is the outsourcing service provider’s core service. The more quickly and accurately the work is done, the more efficient your business will be.
  • Errors are common in small businesses where the owner handles accounts payable, and errors can be costly. Outsourcing your accounts payable process to a team of experienced professionals with automated processes minimizes common mistakes and ensures accuracy.
  • By outsourcing your business’s accounts payable process, you reduce the risk of payment fraud. Third-party service providers have a reliable system in place, with control procedures to keep track of payments and receipts. Everything is well-documented and stored on the cloud to reduce the chance of payment fraud related to paper invoices and double payments.

 

Other Services We Offer

Apart from accounts payable services, we also offer:

  • Payroll Processing – Fast, easy and accurate payroll processing saves time and money, avoids costly mistakes, and gives you peace of mind. We ensure employee payments are made on time, calculate and file provincial and federal payroll taxes, administer employee benefits, and manage reimbursement against expenses.
  • Accounts Receivable – We help optimize your cash flow and collection process with complete accounts receivable services. Our innovative approach and technology-driven workflow enable us to offer best-in-class service at affordable rates.
  • Bookkeeping for Business and Accountants – Our team of experienced bookkeepers manages your bookkeeping remotely, without the expense or hassle of hiring internal staff. Our expertise and knowledge let you focus on the core areas of your business.

FAQ: Outsourcing Services

Still have questions? Our team answers some of the most frequently asked questions about our services.

  • How do you ensure my data’s confidentiality?

We are committed to protecting your data and take appropriate actions. Your files are placed into an encrypted folder, which automatically encrypts before being synced to the cloud. We use multiple strong passwords and security technologies to ensure that any network breaches are rapidly identified and resolved.

  • Do you use any accounting software?

Yes. At the Virtuous Bookkeeping, we use software like QuickBooks, Xero, Wave Accounting, and FreshBooks.

  • What is your pricing structure?

We offer many flexible pricing options to ensure you only pay for what you need.  We have renewable monthly and hourly rate packages. Click here to view our pricing structure. Contact us to discuss pricing.

  • What is the best time to contact you?

Our team is available when you need us. Call us at 1-888-807-5009, email us at info@virtuousbookkeeping.com, or fill out this form and our team will get in touch with you as soon as possible.

Advantages of Outsourcing Your Accounts Payable Processing to Virtuous Bookkeeping

By trusting Virtuous Bookkeeping for your accounts payable, you can rest assured that you are getting a streamlined process flow leading to increased efficiency and profitability. Some of the key benefits of our services include-

• Reduced payment cycle time
• Effective risk mitigation
• Low processing cost
• Increased productivity
• Paperless processing for easy tracking
• Complete control and transparency
We understand that while making payments; accuracy, timeliness and cost-effectiveness are pivotal to accounts payable function in a company. That’s why we ensure that your AP process is handled with expertise and precision.

If you’re looking for a reliable account payable outsource provider, get in touch with us at 1-888-807-5009 to request a quote. We offer flexibility for you to leverage our services on a flat monthly or hourly rate so that there are no last-minute surprises or hidden costs.

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