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Accounts Payable

Do you need help managing accounts payable for your business? At Profit Services, we recognise the importance of your company's financial wellbeing and strategic planning. Our array of services are designed to aid your business in effortlessly navigating the intricacies of financial management. By prioritising proactive planning and anticipating forthcoming financial trends, we empower you to chart a course towards sustainable growth and enduring success.



Embracing a proactive approach also empowers you to establish and achieve your business objectives. To embark on this journey, consider partnering with Profit Services, a reputable provider of accounts payable services. With our expertise, we can manage your financial tasks, allowing you to focus on driving revenue growth and achieving your business goals.

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Our Outsourced Accounts Payable Services

An outsourced account payable service involves delegating the management and processing of accounts payable tasks to external service providers. For Profit Services, these tasks include invoice processing, payment processing, vendor management, and reconciliation. By outsourcing your accounts payable services to us, your business can save time, improve efficiency, reduce costs, and leverage expertise in managing your payables effectively.



  • Processing Purchase Orders
  • Invoice and Payment Processing
  • Invoice Matching with Purchase Orders
  • Processing Standard Pricing Information
  • Vendor Management
  • Handling Debit Memos
  • Preparation and Processing of Ageing Reports
  • Processing Monthly Accounts Payable Ledger

Our Accounts Payable Process

  • Invoice Receipt: Receive invoices from vendors.
  • Verification and Approval: Verify invoices for accuracy and obtain approval for payment.
  • Recording Transactions: Record approved invoices in the accounting system.
  • Payment Processing: Schedule and process payments to vendors.
  • Vendor Communication: Communicate with vendors regarding inquiries or discrepancies.
  • Reconciliation: Reconcile accounts payable transactions regularly.
  • Reporting: Generate reports for analysis and decision-making.
  • Documentation and Archiving: Archive invoices and payment records for record-keeping.
  • Continuous Improvement: Review and improve the accounts payable process periodically.

Why Choose Profit Services Accounts Payable Outsourcing Services?

With our comprehensive accounts payable outsourcing services, we can assist your business with the following: 


Enhance Efficiency

Benefit from enhanced operational efficiency by delegating the time-consuming task of managing accounts payable to our experts. This allows you to focus on business growth initiatives while ensuring timely payment of dues, preventing them from accumulating as debt.



Reduce HR Costs

Compared to the expenses associated with hiring in-house or external CPAs (Certified Public Accountants), outsourcing your accounts payable offers a significantly more cost-effective solution. When you partner with us, you'll benefit from this cost efficiency without compromising the quality or reliability of our services.

Ongoing Guidance and Support

Our dedicated team of accounts payable outsource providers are committed to offering invaluable insights throughout the entire process. We are here to assist you in navigating complexities and optimising outcomes for long-term success. 


Facilitate Business Growth

Unlock opportunities for business growth by reallocating resources previously tied up in accounts payable management. Let us help fuel your growth trajectory with our tailored outsourcing solutions.

A Team of Experts

Benefit from our expertise in utilising top-tier accounting software platforms like Xero, MYOB, and QuickBooks. We ensure efficient processing and accurate management of your accounts payable, empowering your business with streamlined financial operations and enhanced productivity.


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Accounts Payable vs Accounts Receivable

Accounts payable and accounts receivable are two fundamental aspects of a company's financial operations. Both are crucial for maintaining healthy cash flow and managing the financial health of a company.


Accounts payable (AP) refers to the money owed by a business to its suppliers or vendors for goods or services received on credit. This includes invoices that have been received but not yet paid. Managing accounts payable in accounting involves tracking outstanding invoices, ensuring timely payments to suppliers, and maintaining good relationships with vendors.


On the other hand, accounts receivable (AR) represents the money owed to a business by its customers for goods or services provided on credit. This includes invoices that have been issued but not yet paid by customers. Managing accounts receivable involves sending invoices, tracking payments, following up on overdue accounts, and ultimately collecting payments from customers.

Frequently Asked Questions

  • What is Accounts Payable?

    Accounts payable refers to the money a business owes to its suppliers or vendors for goods or services received but not yet paid for. It represents short-term obligations and arises from purchases made on credit. Managing accounts payable involves tracking invoices, monitoring payment due dates, and ensuring timely payments to suppliers. Efficient accounts payable management is essential for maintaining positive supplier relationships and managing cash flow effectively.

  • What are some trends in outsourcing accounts payable?

    Several trends have emerged in the outsourcing of accounts payable processes in recent years:

    1. Digital Transformation: Utilising automation and AI technologies for streamlined processes.
    2. Data Analytics: Harnessing insights for spending patterns, cost-saving, fraud detection, and cash flow optimisation.
    3. Cloud-Based Solutions: Offering flexibility, scalability, and accessibility from any internet-connected device.
    4. Customisation and Integration: Tailoring solutions and ensuring seamless integration with existing systems and workflows.

  • Why should a company outsource accounts payable services?

    There are several reasons why a company might choose to outsource accounts payable services:

    1. Save Time: Processing invoices and making payments can be a time-consuming task, especially for companies with a high volume of transactions. Accounts payable outsourcing providers can handle these tasks on behalf of the company, freeing up time for other business activities.
    2. Improve Efficiency: Accounts payable companies can help a company streamline its payment process by using technology to automate tasks and track payments.
    3. Reduce Costs: By outsourcing its accounts payable function, a company can potentially save money on labour and other costs associated with handling these tasks in-house.
    4. Access to Innovative Solutions: Outsourcing partners may offer access to cutting-edge technologies, tools, and best practices that the company may not have in-house.

  • How do you choose an accounts payable service provider?

    When choosing an accounts payable outsourcing company, be sure to:

    • Evaluate the range of services offered.
    • Review the company's credentials and compliance with industry standards.
    • Assess their technology capabilities and compatibility with your systems.
    • Consider their experience in your specific industry.
    • Review references and testimonials from past clients.
    • Assess their pricing structure and any additional fees.
    • Evaluate the level of support they provide to clients

  • How much does it cost to outsource accounts payable?

    The cost of outsourcing accounts payable varies depending on factors such as the volume of transactions, complexity of tasks, and service provider rates. Generally, outsourcing accounts payable can result in cost savings compared to hiring in-house staff or using external CPA services. Companies should consider the potential savings in labour and other associated costs when evaluating the cost-effectiveness of outsourcing AP tasks.

  • How is Accounts Payable processed?

    Accounts payable process usually involves several steps, including receiving invoices from suppliers, verifying accuracy, obtaining payment approval, recording transactions, and making payments. This process may vary depending on the company's specific procedures, software and the level of automation used in accounts payable management.

  • Why should you automate accounts payable?

    Automating accounts payable offers benefits such as time savings, improved accuracy, enhanced efficiency, cost savings, and better control and visibility over AP activities.

Contact Profit Services - Sydney’s Leading Accounts Payable Solutions!

When you partner with Profit Services, you gain access to a professional firm that specialises in accounts payable outsourcing in Sydney. From managing your financial inflows and outflows to comprehensive bookkeeping and expert business guidance, our team is committed to assisting you in achieving your financial goals. 

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