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For small companies and sole traders:
  • Full Bookkeeping services (AAT registered, Xero partner)

For SME: Accounts Payable Support Services:

  • Invoice and Credit Note processing: we will enter received invoices and credit notes onto your system for processing, using the correct nominal codes. This can be done manually or via OCR (Optical Character Recognition) - we are happy to advise.
  • Multi-currency and multi-lingual: for international invoices in other currencies than GBP we can look at conversions. Communication with suppliers can be done in multiple languages (currently English, Dutch, German).
  • Bank and Supplier Statement Reconciliations: we look at supplier statements to check which payments are missing and can check bank statements as well in case of disputes.
  • Master Data Governance: we keep supplier details, such as addresses, contact persons, bank details, VAT numbers etc. updated.
  • ERP data entry: we will add invoices, credit notes and mutations to your Enterprise Resource Planning system (e.g. SAP, IBM, Oracle, IFS, Sage etc.)
  • Expense processing: we will process staff expenses by checking these with matching receipts, and add them for payment, either as part of payroll or as a separate payment.
  • Payment Runs: we can prepare scheduled payments, based on the payment terms agreed with the suppliers (e.g. weekly or fortnightly).
  • VAT Compliancy: we will make sure that the correct VAT codes are being used, especially important when dealing with international suppliers.
  • GRNI clearance: "Goods Received Not Invoiced" will cause imbalances. We will investigate and liaise with suppliers to find the cause and rectify any missing payments.
  • Month-end, Year-end and Interim journals: we can assist with the preparation of scheduled journals to go to the (management) accountant.
  • Internal Audits and liaising with external auditors: we will adhere to protocols that are in place and communicate with auditors to make sure that rules and processes are followed correctly.
  • Payment Terms negotiation with suppliers: adhering to agreed payment terms strengthens the business relationship with suppliers. For optimal cashflow we may be able to (re)negotiate better terms for you.
  • Purchase Requisitions and Purchase Orders: depending on your ERP system we can create Purchase Requisitions and Purchase Orders. There may be an additional cost involved with this.
  • Helpdesk and Query Resolution: we will monitor your inbox and respond timely in a professional manner to resolve any queries that may arise from paying invoices or raising credit notes and refunds.
  • Document Retention: we will file and retain received documents digitally according to your protocols. We are fully GDPR compliant.

 For SME and larger companies: Higher level AP support services:

  • AP analysis and optimisation: as part of consultancy we can analyse your processes and manage changes where needed.
  • AP reporting incl. PPR: reports can be generated on a scheduled basis or in real-time, dependant on the integration of your AP data with any reporting tools. Payment Practice Reporting is a legal reporting requirement to be submitted bi-annually to the government, but only for large companies with an annual turnover of more than £54 million. It will outline the company's payment statistics.
  • AP supervision of small teams: if you already have your hardworking team set up, we can supervise hands-on and deal with staffing issues. A small team consists of upto 4 members.
  • AP management of larger (international) teams: for teams with 5 members or more we can provide a management structure. This often includes changes to improve processes and resolve staffing issues.
  • AP/ERP software acquisition, implementation and integration: we have good relations with established providers who are able to advise and implement automation systems to streamline your AP process.
  • AP Best Practice and SOX compliancy: the Sarbanes-Oxley Act (SOX) is an internal control requirement for UK companies, aimed at improving the quality of financial reporting and governance. More info here
  • Managing AP outsourced services: the full package, where eventually you wouldn't have to worry anymore about the financial side of your suppliers!

                                                      These services can be provided on a temporary fixed term contract or permanent basis.
                                                                                                      Contact us with your requirements.

                                                   Using LCS Ltd. directly means that you will not have to deal with any recruitment agencies,
                                                                           making this service delivery flexible, efficient and cost-effective!
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