Our firm provides multiple transaction processing and accounting services to logistics service providers (3PLs and 4PLs), moving and storage companies, and trucking companies.
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- Freight bill processing
Entry of freight bills into the accounting or logistics management software after comparing the bills to scanned bill of lading (BOL) and other shipping documents
- Our specialist processing team is skilled in multi-item data entry
- Audit of freight invoices (can be done at transaction level too) for adherence to freight terms listed in bill of lading (BOL) and other shipping documents
- Transaction level review of invoices helps highlight significant errors such as incorrect freight rates and duplicate invoices
- Avoid over-billing and claim rebates from carriers through our audit service
- Capture order related information into ERP/Accounting system based on bill of lading, order and clients details, rate contracts, and other supporting documents
- Invoice creation and emailing to customers or uploading invoices in online customer accounts
- Tracking of order status to flag delivery exceptions, delays and held shipments
- Entry of documents such as purchase orders, driver logs, fuel tickets, timesheets and other relevant documents
Accounts payables (AP) are often one of the most inefficiently done activities in many organizations. Managing timely AP information flow, accurate and prompt entry of vendor bills and regular paying vendor on time is a key challenge for any transaction heavy business. Our accounts payable and disbursement management services help companies perform this critical function accurately and smoothly. We can also manage your account payable, by prioritizing vendor payments as per the payment cycle agreed respectively. This helps our clients plan their cash outflow and reduces the chances of delays, defaults and duplication. Our services include:
- Capture invoices after matching with POs and rate contracts while adhering to clearly specified approvals and budgetary control procedures
- Invoice processing services in a completely online work-flow driven environment, with online approvals, routing, and exception handling
- Process invoices through 2 way (invoice and PO) and 3 way matching(invoice, PO, and packing slips/goods receipts)
- Detailed vendor reconciliation
- Timely reporting of aged payables to controller/accounting manager
- On-time approval of vendor bills
- Avail early payment discounts
- Manage cash-flows through just-on-time payment of invoices
- Processing payments for approved vendor invoices by entering checks
- Raising electronic fund transfer(EFTs) requests to pay vendors
- Customized and detailed accounts payables and disbursements related reporting
- Bank reconciliation including complex reconciliation of bank accounts with electronic payments and deposits from multiple sources such as credit card, lock-box deposits, cash-deposits, checks and electronic fund transfers(EFTs)
- Clearing and Inter-company (bridge) account reconciliation
- Agent reconciliation
- Merchant account reconciliation to ensure funds collected by merchant accounts tie-in with funds deposited by them in the bank accounts
- Credit card reconciliation
- Driver logs reconciliation
- General ledger maintenance
- posting monthly accruals and closing entries
- inter-company adjustment entries
- Travel and entertainment expense accounting
- Fixed asset maintenance-posting of depreciation, asset improvement, asset purchase and disposal journal entries
- Preparation of 1099’s and sales tax returns
- Preparation of dash-boards tracking key-performance indicators(KPIs) that cover both financial parameters and operating parameters such as on-time delivery, freight volumes and order fulfillment rates
- Preparation of management reports including profit and loss statements, balance sheets, cash-flow statements and aging reports
- Customized reporting based on client requirements
Q. What kind of accounting services can you provide to moving and storage companies?
A. We can provide a whole array of services for moving and storage companies ranging from accounting related services, HR services, shipments related services, billing services among others. In accounting services, we can perform cash application services, bank and credit card reconciliation, accounts payable processing, accounts receivable processing, collections, general ledger maintenance and monthly financials. We can also perform travel, employee expense, mileage and driver reimbursement processes.
Q. What kind of freight related services can you provide?
A. We can also perform bill of lading generation, freight payment processing, freight audit, document processing and order invoicing. Entry of freight bills into the accounting or logistics management software after comparing the bills to scanned bill of lading and other shipping documents. Audit of freight invoices for adherence to freight terms listed in Bill of Lading and other shipping documents. We also provide comparative analysis of freight rates and volume of billed freight invoices by different carriers.
Q. Why should I outsource logistics services to your company?
A. Logistics companies spend a lot of their time on processing and paying up freight bills raised by carriers. Our qualified team examines each and every of your invoices, audits, processes and approves these bills. Our outsourcing services can effectively eliminate chances of overcharges and claim disputes, duplicate bills, reduce your overall costs and shorten processing cycles.
Q. How qualified is your billing data entry staff?
A.Our data entry specialists have attained speed and accuracy with rigorous training programs. Through such training programs we have ensured that each member of the team understands the nuances of Bills of Lading and the key factors that must be handled accurately on each bill. You will experience a faster and streamlined flow of goods and information by outsourcing bill of lading generation services to us.
Q. How will I benefit if I outsource in terms of pricing?
A. Outsourcing is a well established strategy employed by many businesses in North America to reduce costs significantly. Outsourcing typically leads to cost savings ranging from 30%-60% depending on process type, location, degree of process complexity and scale of outsourced process. You can concentrate and grow your core business while we handle all the payment processing, accounting and freight documentation related activities.
Q. What are the type of clients have you worked with?
A. We have worked with a variety of clients for e.g. moving and storage companies, warehousing companies, freight forwarding companies among others. We are able to cater to the needs of different types of clients as per their specific requirements.
1. A 100 year old moving and storage company headquartered in Colorado with multi-state operations. The firms’ revenues are about 50-75 mn and has about 250 employees.
Processing of receipts (cash-application services), credit card reconciliation and charge slips back-up tracking, processing of mileage requests based on driver logs, general ledger maintenance (including clearing accounts), payroll account, bank reconciliation and intercompany reconciliation services.
Software: Great Plains
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