Accounting Support Team For client’s Finance Department
To put together a knowledgeable, efficient, and measurable accounting team to perform a variety of tasks that involves accounts receivable, accounts payables, and customer setup. The team will record and report the cash flow transactions of our client’s operations.
- Create an Accounting Department divided in different teams to assign specific responsibilities and tasks. Each team will have to follow determined processes and SOPs to guarantee the best results and performance. The department will be divided in the following way, Accounts Receivable, Accounts Payable, and Customer Setup.
- The Accounts Payable team will be responsible for requesting necessary paperwork to complete pending invoices. They will also upload, approve, and process invoices for payment daily. The team will handle payment status inquiries via email and phone call. The team will also assist completing ACH forms, so they can process payments to new vendors.
- The Customer Setup team will check potential new vendor’s credit scores to make sure they are a good fit. In case new vendors are within our client’s metrics to be approved, they will handle the setup process. The setup process includes, sending setup forms, requesting credit references, gathering accounts payable information, and confirming all information is correct.
- The Accounts Receivable team will confirm all invoices are correct and completed to be sent to our customer’s clients. They will be responsible for processing these invoices daily. The team will also work on completing weekly balance statements that need to be sent every week to our customer’s clients.
Avanza-Logistics created an Accounting Support Department that consists of 12 agents and a manager. The tremendous success of our team has been praised by our client’s Finance Department. Our team has blended perfectly with our client’s Finance Department and they both work together seamlessly. A growth plan has been discussed with our client and this team will keep adding agents as the account and finance workload keeps increasing.
The Customer Setup team completes around 20 new customer profiles in our client’s system. They also finalize around 15 setups for new vendors that will start doing business with our client.
The Accounts Payable team processes an average of 170 invoices for payment a day. Around 400 invoices are approved for payment aging daily as well. 50+ payment status inquiries are handled and taken care of. Lastly, they process payment for 60 to 100 transactions a day.
Our client works with 1,900 vendors and our Accounts Receivable team is responsible for completing balance statements and invoices for them. The team does this in different ways, some of our client’s customers utilize online portals for invoicing. Some other require weekly balance statements or during the first two weeks of the month. In general, 150 to 250 invoices are processed every day and 50 balance statements are sent out a week.
We take pride to be providing support to an important and essential department in a company organization. Avanza Logistics is part of a bigger role ensuring the efficient financial management and financial controls needed to support all business activities.