Accounting Outsourcing

TopSource can deliver processing all the way to trial balance. Specific processes that we support include:

Purchase-to-Pay Processing including:

• Purchase ledger entry
• Supplier statement reconciliation
• Double payment reconciliation
• Supplier payment runs
• Remittance advice distribution
• Full supplier management

Order-to-Cash Processing including:

• Sales invoice production
• Sales ledger reconciliation

Reconciliations including:

• Cash
• Credit card
• Bank
• Balance sheet
• Cash-in-transit

Cash, credit card and sales reconciliations
Expense claim processing
VAT reconciliation and return processing

How we deliver accounting:

Proper accounting controls are critical for almost every organisation. Thorough reconciliations, completed at regular intervals, improve the accuracy of information reporting and ensure proper controls within a business.
Outsourcing accounts processes to TopSource can help you reduce costs while improving the accounting controls in your business.

Purchase Ledger:

The process begins when we collect your purchase ledger documents (invoices, statements, delivery notes, credit notes, etc.). These are received at our London office where they are scanned. The electronic images are instantly stored on two servers at two locations for security.

The documents are routed to a dedicated processing team. This team accesses your accounting system (Sage, Great Plains, Microsoft Dynamics, JD Edwards, etc.) via secure remote connection and process your purchase ledger documents. It’s as if we’re sitting right in your office.

When completed, scanned images of your original documents will be available online via Portico™, our web-based document storage and workflow application. Your original paper documents can then be archived or securely destroyed.

When we receive supplier statements, we reconcile these against missing invoices and against your bank statements to ensure that all payments have been credited. This is an important control to ensure that you do not double pay suppliers. For those invoices that are missing, we will contact the suppliers directly for invoice copies.

Upon completion of the reconciliation, we will submit a payables ledger to your team for payment run approval. We will complete the BACS payments on our BACS platform and record all payments in your ledger.

For all inbound supplier queries, calls can be routed directly to TopSource. We will answer the phone representing your business and manage the queries. At every step, we will save you and your team time and effort, even whilst increasing the accounting controls within your business.

So whether you call it purchase ledger support services, finance outsourcing or accounting outsourcing, we can help.