By Mary S. Schaeffer
Necessities OF money owed PAYABLE
packed with necessary guidance, suggestions, illustrative real-world examples, indicates, and top practices, this convenient and concise paperback can help you not sleep so far at the latest considering, innovations, advancements, and applied sciences in bills payable.
"A real-world process, with nice insights and useful knowledge on all facets of the debts payable method. necessities of money owed Payable presents debts payable execs with a framework for motion in a quickly altering environment."
-Tom Nichols, department supervisor, bills Payable Operations, AT&T
"Mary Schaeffer has mixed her massive wisdom of the bills payable approach with the educational and benchmark facts from best businesses to supply a world-class consultant to the AP strategy. with no Mary Schaeffer, and IOMA, AP may nonetheless be a missed monetary technique with none formal studying to give an explanation for the complexities of a strategy that the majority businesses imagine is just paying the money owed. This e-book is a must-read for an individual operating in, directing, or dealing with AP operations, either pro pros and people new to the process."
-Linda Sawyer Sisko, courses supervisor, Cisco platforms, Inc.
"This ebook does an outstanding activity of explaining the customarily advanced fundamentals of the bills payable services. It offers a brief picture for busy executives who want to know how an money owed payable division may still run. it really is an outstanding replace for these executives who have to sustain to this point on a number of concerns that have an effect on this speedily evolving profession."
-Adrienne Glasgow, leader monetary Officer, American pink pass in higher New York
The Wiley necessities Series-because the enterprise international is usually changing...and so in the event you.
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Extra info for Essentials of Accounts Payable (Essentials Series)
Sample text
Common sense will dictate the number and which ones are appropriate for you. A high-quality secure check stock with antifraud features can reduce the likelihood of incurring altered check fraud and can reduce or eliminate your liability if check fraud should occur. In response to the growing check fraud problem, the check-printing industry has developed security features for checks. The following are some common security features offered on security check stock. If you want to have a little fun while reading this, take out your personal checks and see if you can identify which of the following are used on your checks.
Typically, these rebates are payable annually, and the late-fee issue is not raised until it is deducted from the rebate. Then the discussion is not pleasant. Others accounts payable departments refer the late fee matter to the purchasing manager who can negotiate it when a new purchase is being contemplated. Statements “Never pay from a statement” is usually good advice. However, that does not mean that accounts payable should not get statements from all vendors at least once a year. These statements should not be used for payment purposes but to track how the account is doing and to ensure that the accounts payable department has received all the invoices sent.
You notice we said, in the best of circumstances. Not all companies are this organized. However, even if there are no board authorizations, accounts payable should have a list of who can approve what purchases. A highlevel executive at the company should sign off on this list. Otherwise, it is exceedingly easy to have fraud, and accounts payable could end up taking on a responsibility it should not. Copies of the list should be given only to those who need it, and in all cases should be filed away carefully.