Payment Time Reporting (PTRS)
You have a requirement to report payments to small businesses and must ensure report accuracy and timely delivery – or you may receive costly penalties. CAAPS streamlines your payment time reporting, capturing the precise moment you receive an invoice, tracking and reporting its time of partial or full payment.
How it Works
- 1To create your payment time report, simply ask CAAPS to provide you with a list of Vendors.
- 2This will export in the exact format required by your government’s Small Business Identification Tool (SBI).
- 3Upload your vendor list to the SBI to receive a report in return, which you can then upload to CAAPS.
- 4CAAPS will create your Payment Time Report, which you can then review and sign for submission.
The key benefit of automation in this area is that you can run the report at any time you wish – put an end to compiling endless partial data elements in the hopes you haven’t missed anything and that the reports are accurate.
Reporting is only part of your requirements. With CAAPS, you can track your payments to all suppliers at all times – no more waiting for scheduled reporting times to assess performance, as CAAPS keeps you 100% informed in real-time.