Accounts Payable Auditing

Background Information

F.R.E.E. Inc. was started in 1979 doing accounts payable auditing in San Antonio, Texas.  Today we are in fourteen major markets around the country with 15 auditors. Our average auditor has twelve years experience with us and they are the best in the industry.  The company was founded, is still owned and run hands-on by its management. There are no anonymous or absent managers—you receive direct answers to direct questions

Scope of Work

The service we offer is an accounts payable audit.  We examine paid invoices and related documents for overpayments. We take several approaches to your audit. In the first approach, we use our computerized Duplicated Payment Program to look for duplicate payments in eighteen different ways.  To use it, all we would need is to receive a copy of your vendor history electronically. The second approach is to send letters to your larger vendors requesting statements. We use that as a basis for our research for overpayments. A third approach, if available, is an on-line review of individual invoices looking for several kinds of overpayments.

Description of Auditors Tasks

Our objective is to save our clients money without costing them in terms of vendor relations or their people’s time. Whenever we contact your vendor we are careful to do so in a courteous and businesslike manner.

F.R.E.E. Inc. will independently perform the following:

  • Write our own letters to your vendors.
  • Mail these letters with your approval.
  • Contact the vendor to follow-up.
  • Document all potential recoveries.
  • Answer all vendor inquiries to our letters.
  • Schedule recoveries and follow-up activities.
  • Volunteer suggested strategies on difficult recoveries.
  • Conclude with our Audit Analysis and Management Report

Summary & Conclusion

With F.R.E.E. Inc. you face no up-front expenses for your company. We work entirely on a contingency basis and receive a percentage of recovered overpayments as our fee.  If there are no recoveries, there is no fee. We pledge to keep your information confidential and include this in our one page Letter of Agreement. We understand your needs as well as your position in the business community and look forward to working with you within this context.