Open Accounts Payable

SpendLab Recovery’s Open Accounts Payable service categorises everything open and outstanding in the vendor’s accounts payable. We identify open invoices within a 5 year period that are no longer in the supplier’s account statements for their eventual cancellation in the customer’s books to correct that liability.

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Outsmart the spending cycle with SpendLab

SpendLab Recovery will tirelessly root out any potential open credit at no risk to your company. In a perfect world, the open items of your supplier should match your open items. Experience has shown us this is very often not the case. We will help bring these discrepancies to light within 6 weeks and clear all the open items with your suppliers.

We offer an open AP solution to:

  1. Find unknown credits not represented in the customer’s ERP but existing in the provider’s statements
  2. Process refunds of known open credits – invoices having invoice dates that are at least 6 months before the retrieval of data from our clients
  3. Releasing provision – invoices having invoice dates that are at least 6 months before the retrieval of data from our clients
  4. Execute administrative clearings – compliance
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Contact

Send us a message and we will contact you

For questions about GDPR, please contact privacy@spendlab.com