AP Management

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AP Management is a term used to describe maintaining vendor information, including W9s, 1099s, prompt recording, and payment of vendor bills. Typically, this work is needed for all industries, specifically businesses that make purchases on account/have buy-now-pay-later arrangements with suppliers. These businesses make purchases on account and must meet due dates to keep vendor/supplier relations. Managing payment of utilities is also extremely important and, if not managed correctly, can result in delays, turn of notices, late fees, or being overcharged.  

AP Management ensures you are current in paying your bills to get your deliveries and purchases ASAP. Management of your bills also helps you gain insight into your expenses and costs. Some vendors/suppliers will give discounts to businesses that pay on time and within a particular payment term (specific to each vendor/supplier). 

With MFR LLC, your bills will be entered and coded accurately and timely. You will have access to your AP Aging and gain insight into vendor trends and ways to save money. Your vendors/suppliers will be ecstatic to work with you as they will always have another point of contact to provide information on payments or questions. We will also have bi-weekly/monthly meetings on the AP Aging to prevent insolvency and manage cash outflows.