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How a consignment business uses TakeTurns for accounts payable

At Every Turn TakeTurns Blog
|  by
Clare Nosowitz
Clare Nosowitz
Customer Success Manager
Use Cases
How a consignment business uses TakeTurns for accounts payable

In previous articles we’ve discussed how TakeTurns has improved the personal productivity of our users and helped them maintain continuity with their external collaborators. In this article, we discuss an additional capability– the ability to view all outstanding collaborations.

I recently spoke with a manager for a consignment store who uses TakeTurns to reconcile and track her company’s monthly payments to vendors. She prefers using TakeTurns instead of email for this purpose, because when she uses TakeTurns she can see the status of each individual reconciliation with each of her company’s vendors, and the status of all reconciliations in one place at the same time. 

Here’s how it works

Step 1

For an individual reconciliation, the manager creates a collaboration with the vendor, uploads a sales report, and requests an invoice.

Creating a collaboration in TakeTurns is easy

Step 2

That vendor reviews, and invoices the sales.

How a vendor reviews and invoices a sale in TakeTurns

Step 3

The manager reviews the invoice and provides proof of payment

TakeTurns provides easy tools to review invoices and proof of payment

Step 4

The vendor wraps up the collaboration when payment is received

How to wrap up your collaboration in TakeTurns

And, at any time, the manager can see the status of all her outstanding AP collaborations.

Quickly seeing all your outstanding collaborations

Prior to using TakeTurns, the manager would have to search through email threads to download  invoices from each vendor’s email individually. Looking at all the monthly reconciliations, given that the vendors would often use the same or similar subject lines, these individual email threads would collide, e.g., there would be dozens and dozens of emails in the month of May named “May Recon” (may reconcile indeed!!). And if a specific reconciliation requires any back and forth, the number of emails just multiples.

With TakeTurns, the manager can see all her vendor collaborations on a single screen. Each reconciliation is encapsulated and does not intersect with the other collaborations.  She can see which party needs to act next to move each reconciliation forward. Her vendors also appreciate the visibility that TakeTurns provides on their side; they can see whether payment has been issued, and if not, what is needed in order to get payment processed. If any back and forth is required, it happens inside the collaboration - there are no stray threads.

Get started today

TakeTurns brings structure, security, and transparency to your collaborations, making it perfect for tasks like accounts payable. With TakeTurns, you and your parties will know whose turn it is to work, track the full history, and maintain confidentiality. Learn more in our Help Center or follow us on LinkedIn and YouTube. And when you’re ready for chaos-free collaboration: Try Take Turns for free.

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