Accounts payable has got noting to do with purchase of goods and services, it's work is to pay the eligable invoices.
End to End Process of AP - Process the vendor invoices into system - Work and resolve the discripencies of the invoices (if any) - Make the payments to the invoices as per the agreement - Resolve the issues ( if any ) regarding the invoice payments
There is no specific abbreviation for the term WIRE because when the payment is being made using this option, you will not see the physical movement of funds. It is all electronic. It is just like a current passes through Wire.
Therefore Electronic movement of funds is campared with WIRE.
Software Technology Parks of India (STPI).Some of the software service providers will get exemption from STPI for their software exports. In accounts payable may be we need to define the vendor STPI location wise.
In India we have different STPI location. If one vendor supplying services or materials to all OR some of the STPI locations we need to maintain the same vendor STPI wise.