S4 EP03 - Business Process Improvements With Accounts Payable with Kerry Peters & Cari Corozza

<p><span style="font-weight: 400;">Do you find your AP team stuck with getting accounts payable entered and paid on time that they are unable to focus on doing other finance processes in the company? </span></p> <p><span style="font-weight: 400;">This results from inefficient bookkeeping workflow, skepticism in getting an accounting professional to work remotely, and transitioning to a paperless accounting system that affects your ability to close your month faster. </span></p> <p><span style="font-weight: 400;">At New View Strategies, we ensure that when we step in and work side-by-side with our customers, we make it possible for them to maximize the BC/NAV system and train their AP team to become more comfortable with the paperless and remote processes. </span></p> <p><strong>Essential points covered in this episode:</strong></p> <p><span style="font-weight: 400;">✔️</span> <strong>A very strong AP person is the key to a really strong accounting department.</strong> <span style= "font-weight: 400;">Numerous</span> <span style= "font-weight: 400;">transactions posted in your general ledger will come from purchase invoices or invoices from purchase orders. Suppose those are entered to the wrong accounts, incorrect amounts, or even the wrong dimensions — it can take a lot of fixing at month's end because first, you need to review and find all of those errors. </span></p> <p><span style="font-weight: 400;">It is, therefore, crucial to have an accounts payable employee who is properly trained on what can be done with the Business Central/NAV system because a lot of people don't know what the functionality is. An accounting team that doesn't know</span> <em><span style= "font-weight: 400;">what</span></em> <span style= "font-weight: 400;">to do with the system will be ineffective and hurt your business in the long run.</span><em><span style= "font-weight: 400;"> </span></em></p> <p><span style="font-weight: 400;">✔️</span><strong>A BC/NAV feature that not many people use is Deferrals.</strong> <span style="font-weigh