Q:

What is the function of an accounts department?

A:

Quick Answer

An accounts department pays bills and invoices, according to the Chron Small Business. Accounts departments save the company money wherever possible, and accountants must also maintain good relationships with employees and vendors.

Continue Reading
What is the function of an accounts department?
Credit: Jose Luis Pelaez Inc Blend Images Getty Images

Full Answer

Chron mentions three core duties that accounts payable must perform: vendor payments, travel expenses and internal payments. Vendor payments include paying suppliers. Accountants also manage vendor contacts, company contracts and W-9 forms for tax purposes. The internal structure of a company also determines whether or not accounts departments manage pre-approved purchases and verify purchases.

Internal payments include managing cash expenses, such as office supplies, postage or company picnics, according to Chron. Accountants are also responsible for keeping sales tax exemption certificates to save the company money on purchases. Travel expense duties may include booking hotel reservations or securing car rentals. Accounts departments also handle requests for travel reimbursements.

Learn more about Careers

Related Questions

Explore