Payment Reassurance

Accounts Payable

At Coastal Bookkeeping, we understand the importance of managing your finances effectively. Our primary goal is to ensure that you have a clear picture of your business spending. By doing so, we help you avoid unnecessary expenditures and ensure that you never spend money you don’t have
Ongoing Support

With constant communication, we help to provide piece of mind when it comes to your Accounts Payable

Accurate Reporting

Through years of Accounts Payable experience, we are seasoned in checking for Accurate Reporting

Affordable Pricing

As we focus on working with clients, we strive to provide an Affordable solution to meet the needs of Business Owners

What is Accounts Payable?

Accounts Payable (AP) represents the amounts that a business owes to its suppliers, vendors, or other creditors for goods and services received but not yet paid for. These are short-term liabilities, typically due within a year, and are listed on a company’s balance sheet under current liabilities.

Why is Accounts Payable Important?

  • Cash Flow Management: AP plays a crucial role in managing a company’s cash flow. By effectively managing AP, businesses can ensure they have enough cash on hand for other operational expenses.
  • Building Strong Vendor Relationships: Timely and accurate payments to vendors and suppliers help in building trust and can lead to better terms, discounts, or priority during high-demand periods.
  • Financial Reporting: AP is a critical component of financial statements. It provides insights into a company’s short-term financial health and obligations.

Components of Accounts Payable

  • Invoices: These are the primary documents that detail the amount owed for a purchase.
  • Purchase Orders: Issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.
  • Payment Terms: These dictate the time frame within which a buyer must pay the seller. Common terms include net 30, net 60, etc.
  • Credit Memos: These represent a deduction from what’s owed to a vendor, often due to returned goods or overpayments.

Benefits of Accounts Payable Management

  • Cost Savings: Taking advantage of early payment discounts or avoiding late fees can lead to significant savings.
  • Enhanced Cash Flow: By effectively managing AP, businesses can better forecast their cash flow.
  • Improved Vendor Relationships: Timely payments and clear communication can lead to better terms and stronger relationships with vendors.

Outsource Your Accounts Payable

Our Process

Easy Step Process

Consultation

Initial Phone Conversation to determine needs and how Coastal Bookkeeping Services can provide value

First Step
Fee Determination

We will take a look into your current financial circumstances and determine a corresponding fee

Second Step
Written Proposal

If the Fee is accepted, Coastal Bookkeeping Services will put together a written proposal to get started

Third Step
Why Choose Us

Benefits of Choosing Coastal Bookkeeping

Having an outside source to handle your Accounts Payable is a great way to provide additional accountability. We focus on your books, while you focus ON your business!

Stress - Free Management

Outsourcing your accounts payable to us means you have an external, accountable team managing your finances. This allows you to focus on growing your business.

Expertise

We specialize in managing accounts payable. By partnering with us, you can be "hands-off" and trust that your accounts are in capable hands.

Cost Savings

Instead of hiring a full-time accounts payable team member, partnering with us can lead to significant cost savings without compromising on quality.

business owner stocking inventory on shelves
Testimonial

Our Clients Reviews

Beverly Cole-Luchansky
Beverly Cole-Luchansky
2023-01-24
Coastal Bookkeeping assisted me and my accountant with re-preparing books for five years of income taxes filings for my business. Kevin was able to get my books in great standing within five weeks. He meet the accountant's strict deadlines and made the entire experience run smoothly for me. He was extremely knowledgeable, professional and communicated with me throughout the entire process. Give them a try, you won't find a better company to work with.
Brody Rotzoll
Brody Rotzoll
2023-01-19
Coastal Bookkeeping has done an amazing job with cleaning up our companies books. There is nothing like being able to work on your business instead of inside your business. Thank you Kevin for everything!
Kevin Thomas President Photo

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