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Accounts Payable Process – Vendors & Creditors
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Receive incoming bills/
invoices via postal mail,
fax or email.
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Accounts Payable Process (Vendors) Template

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One wasteful place where money flows out the door in small businesses is in late fees. Invoices get paid late when they are out of sight. Having an accounts payable process in place that includes visual cues can reduce, even eliminate paying fees, fines and penalties associated with missed or past due invoices.

Published in: Business

Accounts Payable Process (Vendors) Template

  1. 1. Accounts Payable Process – Vendors & Creditors start Receive incoming bills/ invoices via postal mail, fax or email. Open accounting log or software to enter the type of bill. Credit Card Statement Loan Coupon Invoice for Services Rendered Enter vendor name, date received, date due, amount due & applicable interest. Verify principal owed and total interest paid. Separate expenses by line item. Enter vendor name, date received, date due & amount due. Enter vendor name, date received, date due & amount due. Is the Amount Due correct? YES NO Determine date to pay Invoice/Bill. Call Vendor/Debtor to resolve discrepancy. How will payment be made? Credit Card Check Automatic Withdrawal / Online Bill Pay File paper or electronic bill/invoice stubs. Record payment and date in Accounting Log or software. Pay bills on designated day(s). Check for correct post date for automatic withdrawals. end See Records Management Process Want to download this template in Powerpoint or Visio? Save time in creating processes & procedures from scratch. Download the full template at: eqbsystems.com/smallbusinessprocesses.html#acctpayvendors

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