Welcome to Provident India Services

Introduction

At Provident India Services, we manage Accounts Payable (AP) work for restaurant clients in the United States. A key part of our job is to enter invoices into the accounting system. This task is important because it ensures that all bills are recorded correctly, paid on time, and that the financial records of each restaurant are accurate.

We use a software called Restaurant365 (R365) for this work. Each client we handle has a unique login for R365. On a daily basis we enter more than 800 invoices for restaurants. Our goal is to make financial management easy and efficient for our clients.

What We Do:

Invoice Processing: Every day, we process more than 800 invoices for restaurants, entering them into the Restaurant 365 software. We receive these invoices through emails.

Managing Invoices from Portals: Besides handling invoices received by email, we also download invoices from different portals and enter them into the system following a well-defined process.

Vendor Statement Reconciliation: We help our clients keep their records accurate by carefully matching vendor statements with the records, making sure everything is correct.

Daily Reporting: We provide daily reports to our clients, giving them a clear view of their financial activities and helping them make informed decisions.

The Importance of Accurate AP Invoice Entry

Entering invoices correctly is very important for our restaurant clients. Here's why accurate AP invoice entry matters:

Financial Accuracy: Correctly entering invoices ensures that the financial records are accurate. Mistakes can lead to errors in financial reports, which can cause problems in decision-making. By entering invoices accurately, we help our clients maintain a clear and correct financial record.
Timely Payments: Paying vendors on time is important for maintaining good relationships. Delays can lead to late fees and may harm the relationship with suppliers. Accurate invoice entry ensures that payments are made on time, avoiding these issues.
Cash Flow Management: Managing cash flow is essential for running a successful business. By entering invoices accurately, we help our clients track their payments and manage their cash flow efficiently. This helps them plan their finances better and avoid any financial difficulties.
Audit Trail: Keeping a clear record of all transactions is important for audits and reviews. Every invoice entry adds to this record, making it easier to review financial activities. This is important for meeting regulatory requirements and for any future audits.

In simple terms, accurate AP invoice entry is important for the financial management of our restaurant clients. It ensures that all expenses are recorded correctly, payments are made on time, cash flow is managed well, and there is a clear record of all transactions.