Outsource Accounts Payable Services For Dental Practices

Dental practices often manage a high volume of invoices from suppliers, vendors, and service providers, along with varying payment terms. This complexity can lead to delays, errors, and strained supplier relationships, diverting focus from patient care. By outsourcing accounts payable to specialists, dental practices can ensure timely payments, improve cash flow management, and reduce administrative burden. At OBS, we offer customized outsourced accounts payable services for dental practices, providing expertise and precision in handling your financial processes while allowing you to focus on delivering exceptional patient care.

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    Security and Data Protection For Dental Practices

    When you outsource accounts payable services for dental practices, security and data protection are essential priorities. At Outsourcing Business Solutions (OBS), we understand the importance of safeguarding your financial and patient data. We implement strict security measures to ensure the confidentiality and integrity of your sensitive information. To maintain privacy, we sign Non-Disclosure Agreements (NDAs) and Non-Compete Agreements (NCAs) with all clients. Additionally, we use centralized servers instead of local servers, providing enhanced data protection and reducing the risk of breaches. Furthermore, we enforce rigorous facility protocols, including a no-paper, no-pen policy on our work floors, and restrict the use of mobile phones and USB devices.

    Dental Practices Accounts Payable Services We Provide

    At OBS, we specialize in dental practices outsource accounts payable services, offering customized solutions to transform your financial processes. Our expert team handles invoice processing, vendor reconciliation, payment processing, and statutory reporting, ensuring timely and accurate payments. We also provide detailed AP aging analysis and three-way matching to maintain accuracy. By outsourcing accounts payable, dental practices can improve operational efficiency, maintain strong vendor relationships, and focus on delivering exceptional patient care.

    • Coding and indexing of invoice receipts
    • Audits and quality control of invoices
    • Exception handling and vendor statement reconciliation
    • 1099 forms & statutory reporting
    • PR & PO administration
    • Travel and expense (T&E) administration
    • Vendor master data administration
    • Payment processing
    • AP aging analysis & reporting
    • Invoice processing & three-way match
    • Vendor communications & inquiries
    • Procurement help desk

    Process of Accounts Payable Services

    Step 1: Invoice Receipt

    Receiving invoices from suppliers or vendors marks the start of the accounts payable process. It is possible to get invoices in a variety of formats, including hard copies, email attachments, and electronic data interchange (EDI) formats.

    Step 2: Verification and Validation

    The team checks the legitimacy and accuracy of the invoices they receive. To confirm that the items or services were received as indicated and that the pricing and quantities are accurate, they examine the specifics of the invoice with purchase orders, contracts, and supporting documentation.

    Step 3: Recording of Invoices

    The accounting system keeps track of the invoices that have been examined and approved. Typically, this entails inputting the invoice information, including the vendor name, invoice number, invoice date, due date, and invoice amount, into the accounting software’s accounts payable module.

    Step 4: Approval and Authorization

    To guarantee the correctness and integrity of the AR records, routine account reconciliation is carried out. This entails identifying any discrepancies or unresolved items by comparing the AR sub-ledger with supporting evidence, such as payment receipts, bank statements, and customer correspondence.

    Step 5: Processing of Payments

    Following approval of the bills, the payment procedure starts. Based on the authorized invoices, the accounts payable team prepares payment documents, such as cheques, electronic fund transfers (EFTs), or other forms of payment. Payments may be made on a regular schedule (such as weekly or monthly) or in accordance with the specified payment terms.

    Step 6: Payment Recording

    To guarantee the correctness and integrity of the AR records, routine account reconciliation is carried out. This entails identifying any discrepancies or unresolved items by comparing the AR sub-ledger with supporting evidence, such as payment receipts, bank statements, and customer correspondence.

    Step 7: Vendor Reconciliation

    The accounts payable staff periodically compares vendor invoices or accounts with their books. To make sure that all invoices and payments are appropriately reported and that any inconsistencies are rectified, this entails checking the vendor’s statement with the business’s records.

    Step 8: Reporting and Analysis

    To guarantee the correctness and integrity of the AR records, routine account reconciliation is carried out. This entails identifying any discrepancies or unresolved items by comparing the AR sub-ledger with supporting evidence, such as payment receipts, bank statements, and customer correspondence.

    Step 9: Compliance and Record-Keeping

    The team is responsible for ensuring compliance with legal and financial requirements. For auditing purposes and to satisfy legal and tax duties, they maintain accurate records of invoices, approvals, payments, and reconciliations.

    Step 10: Continuous Process Improvement

    The teams work to continuously enhance the procedures. To increase accuracy, speed, and general efficiency, they pinpoint inefficient areas, put process improvements into place, and streamline workflows.

    Our Software Expertise

    At OBS, we have expertise in various software such as QuickBooks, Xero, Netsuite, Sage, Zoho Books, Quicken and FreshBooks. We enable easy integration with your current financial system. With efficient utilization of software, we ensure accuracy in all aspects of our outsourced accounts payable services, i.e., invoice scanning to payment fulfillment.

    Account Payable Services for Multiple Industries

    Our Packages

    HOURLY

    Working Time Hourly Basis
    Minimum billing of USD 300 per month
    Starting from USD 10

    PART TIME

    Working time flexible

    Starting from USD 750

    FULL TIME

    Working time 8 hours daily

    Starting from USD 1500

    Client's Testimonials

    How A2Z Real Estate Transformed Their Accounts Payable with Expert Accounting Services

    Listen to our client, Ms Michelle from A2Z Real Estate, as she shares how expert accounting services transformed their accounts payable processes.

    Streamlining Invoices and Accounts Payable: A Client Success Story

    Listen to our client Mr. Allen Kelly, as he shares his company’s experience using our expert accounting services. Learn how our solutions transformed their invoice and accounts payable processes and led to more efficient operations and stronger vendor relationships.

    Seamless Accounting Transformation with QuickBooks: A Client's Journey

    Discover how our client Ms. Danine Hodge successfully streamlined their accounting processes with OBS’s outsourced accounting services using QuickBooks. Learn how the integration of QuickBooks and expert support from OBS transformed their financial operations, providing them with the clarity and precision needed to drive their business forward. Listen to their story and see the tangible benefits of partnering with OBS for your accounting needs.

    Accounts Payable Client Success Stories

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