Accounts Payable

At Teddi Howard LLC, we understand how challenging it can be to manage ___. That’s why our community managers have these tasks built into their routines.

Accounts payable (AP) is an accounting entry that represents an association’s obligation to pay off short-term debt to creditors or suppliers. Our accountants and bookkeepers are trained professionals skilled in handling your association’s accounts payable.

 

The accounts payable process involves reviewing an enormous amount of detail to ensure that only legitimate and accurate amounts are entered in the accounting system. The accuracy and completeness of an association’s financial statements are dependent on the accounts payable process. Our well-run accounts payable process will include:

  • The timely processing of accurate and legitimate vendor invoices,

  • Minimizing duplication,

  • Accurate recording in the appropriate general ledger accounts,

  • The accrual of obligations and expenses that have not yet been completely processed.

The efficiency and effectiveness in which we handle our association’s accounts payable process will also affect its cash position, credit rating, and relationships with its suppliers.