Accounts outsourcing

Author: Outsource India In a nutshell Accounts Payable Service is a very broad term to attempt to define. The most famous character in the plot though is an invoice. Any invoice generated and delivered for a product sold or a service provided becomes a part of the buyers or the customers accounts, which is payable. The services’ related to the management of these accounts is termed as Accounts Payable Services . Accounts payable is a from of credit that a buyer enjoys as he only has to pay once he has received the product or utilized the services provided by the seller. A seller usually has payment terms mentioned in the invoice, which could vary from zero to 30 days or more as per the negotiations between the buyer and the seller. An Example Let us consider a spare parts manufacturing firm Tech-Spares Ltd., supplying spares to an automobile manufacturer BestCar Ltd. Let us assume, 30 days is the terms of payment negotiated between Tech-Spares and BestCar. 30 days from the date of inv