Canadian Cypress provides outsourced Accounts Payable Services from Victoria, BC, to businesses across Vancouver Island, Canada, and the United States. We help them streamline their vendor payment processes.
Our team helps with the daily tasks associated with Accounts Payable Processing, such as receiving vendor invoices, entering and coding bills, following up on bill approvals, preparing bills for payment, reconciling vendor statements, and AP reporting. You still approve the payment authorization and get the workflow going, and we help throughout the process.
We don't just deal with each AP task individually; we back a connected Accounts Payable Workflow that keeps invoices organized and flowing through each phase.
We collect and organize invoices received through your approved channels and keep the supporting information required for processing.
This helps ensure invoices are properly organized, easy to locate, and ready for the next step in the Accounts Payable process. It also reduces the risk of invoices being overlooked or lost among emails, folders, or separate departments.
Before an invoice moves forward, we check all information that is available, including the vendor name, invoice number, date, amount, terms of payment, applicable taxes and supporting documents.
If information is missing, inconsistent, or needs clarification, these can be determined and reviewed prior to further processing.
We enter bills into your existing accounting system using your established chart of accounts and coding procedures.
Bill coding may include expense accounts, departments, classes, locations, projects, cost centres, taxes, or other tracking categories, depending on your accounting setup.
We help track invoices through your established approval process and follow up on pending approvals when required.
After the necessary Invoice Approval, bills can be sorted by due date, priorities, payment terms and your payment schedule.
Your designated personnel continue to make the final decision on Payment Approval and payment release.
Once the approved payments have been made, the records can be updated to reconcile with the accounting and payment information that is available.
We can also perform a Vendor Statement Reconciliation to find out vendor statement differences during payment, unapplied vendor credits, missing invoices and so on.
The Accounts Payable process is not just about entering invoices. It also involves identifying items that require attention before they move further through the payment process.
Our team can support in identifying:
Any items needing clarification can be referred to the appropriate client contact before further action is taken.
Canadian Cypress enables your Accounts Payable Workflow without giving away your business control of Payment Authorization.
We operate within the approval authority used by your organization. Processes vary, so you can review, code, organize and complete invoices and still wait for final approval from your team members.
This approach maintains a clear distinction between Accounts Payable Processing support and Client Payment Authority.
We are able to assist clients on existing Cloud Accounting Systems such as:
If your accounting environment has approved document management, payment, expense management, or other Accounts Payable Software, we will use your existing workflow and access permissions.
Where appropriate, the use of Technology-Supported Accounts Payable tools and automation features of modern accounting systems is utilized to increase processing efficiency.
Technology can assist with activities such as invoice capture, data entry and workflow organization, but we do not rely on automation alone.
Our team remains involved to review records, investigate unclear or unusual items, identify missing information and escalate matters that require client review or approval.
This combines the efficiency of modern Accounts Payable technology with human involvement in the workflow.
Our Accounts Payable Support can be scaled to your invoice volume, accounting systems, internal approval process and reporting needs.
Canadian Cypress provides Accounts Payable Support for CPA Firms, accounting firms, and accounting practices that need additional capacity for their clients.
We operate in your firm's accounting systems, documentation process, approval flow and communication systems.
Support may include vendor invoice processing, bill entry and coding, accounts payable reporting and reconciliation, invoice tracking, and accounts payable backlog projects, depending on the agreed-upon scope of services.
Confidential information, such as vendor, banking, payment and business information, is often included in Accounts Payable records. Now, the protection of that information is still an important component of our service.
We may have security and confidentiality procedures such as:
The information of the clients is shared as per the role of the respective teams and the agreed-upon service requirement.
We offer Vendor Invoice Processing, Bill Entry, Bill Coding, Invoice Approval Tracking, Accounts Payable Aging and Reporting, Vendor Statement Reconciliation and Vendor Records Support. The depth of the scope will vary based on your volume of invoices, the accounting program you use and how your accounting is approved internally.
Our team prepares and organizes payment information within your agreed Accounts Payable Workflow. Final Payment Authorization remains with the client's designated authorized personnel unless a different arrangement is specifically established and appropriately controlled.
Yes. We are integrated into your existing Approval Workflow and assist in monitoring invoices for review and/or authorization. Your team continues to approve and manage the Accounts Payable Processing and we assist your team with the administrative aspect.
Yes. An Accounts Payable Backlog can be reduced by reviewing outstanding vendor invoices, organising supporting documentation, updating bills in your accounting system and identifying bills for approval or clarification.
The time required depends on the volume and condition of the existing records.
QuickBooks Online, Xero and Sage are used. In the consultation phase, we will discuss your accounting environment, accounting workflow, integrations, access and approvals.
This can be done via an approved Cloud Accounting System, pre-established email workflows, document workflows, or secure document sharing systems based on the existing systems and needs.
Talk to our team about your invoice volume, vendor payment workflow, accounting software, approval process, and current Accounts Payable workload to see how our support can fit your existing workflow.
