{"product_id":"accounts-payable-best-practices-isbn-9780471636953","title":"Accounts Payable Best Practices","description":"Have you ever wondered where your processes stand against industry leaders or how you can take your services and organizational procedures to state of the art levels? Are you frustrated because you don't think you have the finanical or human resources needed to employ 'best' practices? This handy resource provides documented strategies and tactics for accounts payable used by several highly admired companies. You'll gain practical knowledge you can turn into \"Best\" (or Almost Best) Practices as well as examples of practices to avoid.    \u003cp\u003eOrder your copy today!\u003c\/p\u003e \u003cp\u003eIntroduction xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Invoices 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvoice Handling: Approvals 1\u003c\/p\u003e \u003cp\u003eForwarding Invoices 6\u003c\/p\u003e \u003cp\u003eVerifying Invoice Data 8\u003c\/p\u003e \u003cp\u003eInvoice-Coding Standards 11\u003c\/p\u003e \u003cp\u003eShort-Paying Invoices 16\u003c\/p\u003e \u003cp\u003ePaying Small-Dollar Invoices 19\u003c\/p\u003e \u003cp\u003eHandling Unidentified Invoices 21\u003c\/p\u003e \u003cp\u003eHandling Invoices without Invoice Numbers 23\u003c\/p\u003e \u003cp\u003eCase Study: How One Pro Took Accounts Payable Out of the Picture when Resolving Customer Discrepancies 25\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Checks 29\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCheck Printing 29\u003c\/p\u003e \u003cp\u003eCheck Signing 35\u003c\/p\u003e \u003cp\u003eCheck Stock Storage 40\u003c\/p\u003e \u003cp\u003eDistribution of Checks 42\u003c\/p\u003e \u003cp\u003eCheck Fraud 45\u003c\/p\u003e \u003cp\u003eRush or Emergency Checks 50\u003c\/p\u003e \u003cp\u003eCase Study: Information Sheet: Segregation of Duties 54\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Operational 57\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDuplicate Payment Avoidance 57\u003c\/p\u003e \u003cp\u003ePaying When the Original Invoice Is Missing 61\u003c\/p\u003e \u003cp\u003eLimiting Calls to Accounts Payable 63\u003c\/p\u003e \u003cp\u003ePetty Cash 65\u003c\/p\u003e \u003cp\u003eSupplier Statements 69\u003c\/p\u003e \u003cp\u003eCase Study: Expert Demonstrates How to Put the Web to Work for Accounts Payable 71\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Master Vendor File 77\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaster Vendor File Setup 77\u003c\/p\u003e \u003cp\u003eUsing Naming Conventions 81\u003c\/p\u003e \u003cp\u003eMaking Changes to the Master Vendor File 85\u003c\/p\u003e \u003cp\u003eMaster Vendor File Cleanup 87\u003c\/p\u003e \u003cp\u003eCase Study: Experienced Accounts Payable Pro Shares Master Vendor File Control Secrets 90\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 P-Cards 97\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDesign of the P-Card Program 97\u003c\/p\u003e \u003cp\u003eEstablishing Procedures 99\u003c\/p\u003e \u003cp\u003eSetting Controls 101\u003c\/p\u003e \u003cp\u003eIncreasing Usage 105\u003c\/p\u003e \u003cp\u003e1099s and P-Cards 106\u003c\/p\u003e \u003cp\u003eTerms 108\u003c\/p\u003e \u003cp\u003eRebates 110\u003c\/p\u003e \u003cp\u003eCase Study: P-Cards Improve Accounts Payable Process at PETsMART, Rock-Tenn, and Rouse 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Travel and Entertainment 119\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFormal Policy 119\u003c\/p\u003e \u003cp\u003eCash Advances 123\u003c\/p\u003e \u003cp\u003eT\u0026amp;E Report Form 125\u003c\/p\u003e \u003cp\u003eVerifying Data 127\u003c\/p\u003e \u003cp\u003eHandling Receipts 129\u003c\/p\u003e \u003cp\u003eReservations 130\u003c\/p\u003e \u003cp\u003eReimbursing Employees 132\u003c\/p\u003e \u003cp\u003eUnused Tickets 133\u003c\/p\u003e \u003cp\u003eCase Study: Making the Most of Direct Deposit 134\u003c\/p\u003e \u003cp\u003eCase Study: TransUnion’s Successful Low-Tech, Low-Budget T\u0026amp;E Solution 136\u003c\/p\u003e \u003cp\u003eCase Study: Follow IBM’s Lead: 21 Steps to an Award-Winning T\u0026amp;E Process 139\u003c\/p\u003e \u003cp\u003eCase Study: How Zurich America Developed Its Own Electronic T\u0026amp;E Report 145\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Regulatory Issues 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1099s 151\u003c\/p\u003e \u003cp\u003eSales and Use Tax 154\u003c\/p\u003e \u003cp\u003eUnclaimed Property 156\u003c\/p\u003e \u003cp\u003eCase Study: How to Avoid Sales and Use Tax Audit Disasters 159\u003c\/p\u003e \u003cp\u003eCase Study: A Typical Company’s Unclaimed Property Experience 162\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Cash Management 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTaking Early Payment Discounts 167\u003c\/p\u003e \u003cp\u003ePayment Status Information for Vendors 170\u003c\/p\u003e \u003cp\u003eBank Accounts and Fraud 172\u003c\/p\u003e \u003cp\u003eOther Cash Management–Related Initiatives 174\u003c\/p\u003e \u003cp\u003eCase Study: General Electric’s Approach to Electronic Invoicing and Payment Processing 176\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Technology 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImaging and Workflow 181\u003c\/p\u003e \u003cp\u003eThe Internet 185\u003c\/p\u003e \u003cp\u003eE-Invoicing 187\u003c\/p\u003e \u003cp\u003eCase Study: PPL Electric Offers Lessons on Setting Up an Accounts Payable Imaging Solution 189\u003c\/p\u003e \u003cp\u003eCase Study: An Accounts Payable Web Site 194\u003c\/p\u003e \u003cp\u003eCase Study: How the Accounts Payable Manager at Merck Overhauled Department Procedures and Technology 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Communications\/Customer Relations 209\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePayment Status Information for Vendors 209\u003c\/p\u003e \u003cp\u003eCommunicating Relevant Information to Vendors 211\u003c\/p\u003e \u003cp\u003eCommunicating with Internal Customers 214\u003c\/p\u003e \u003cp\u003eImproving the Procure-to-Pay Cycle 217\u003c\/p\u003e \u003cp\u003eCase Study: Interactive Voice Response Frees Accounts Payable from Annoying “Where’s My Money” Calls 219\u003c\/p\u003e \u003cp\u003eCase Study: How Automated Accounts Payable and Purchasing Systems Mesh at BNSF 222\u003c\/p\u003e \u003cp\u003eIndex 229\u003c\/p\u003e \u003cb\u003eMary S. Schaeffer\u003c\/b\u003e is the Editorial Director and Publisher of \u003ci\u003eAccounts Payable Now \u0026amp; Tomorrow\u003c\/i\u003e, a newsletter devoted to payment issues. She also pens, \u003ci\u003ee-News from the AP Front\u003c\/i\u003e, a complimentary e-zine for the payment community. She's the author of ten books and numerous magazine, newsletter and newspaper articles. Her books have been used in several certification programs. She is a member of the New York Financial Writers Association. She is currently working on two additional books for John Wiley \u0026amp; Sons.  The fundamental structure of the accounts payable function reflects a company’s financial integrity, yet so many payable operations in companies aren’t running at peak efficiency. Overlooking only a few weak accounts payable operations can adversely affect a company’s bottom line in a number of ways, from incurring costs to resolve discrepancies and fix errors to receiving fines for failing to comply with escheat or sales and tax rules.  \u003cp\u003eAccounts Payable Best Practices provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state-of-the-art levels. Documented strategies and tactics employed by highly admired companies are presented–both successful and unsuccessful–to illustrate the real-world functionality of each process and approach.\u003c\/p\u003e \u003cp\u003eEvery chapter features a brief explanation of the process or topic being addressed to accompany the discussion of best practices. However, for a variety of reasons, some firms aren’t in a position to employ best practices. To bridge the gap between the latest theory and practice, Accounts Payable Best Practices identifies \"Almost Best Practices.\" These special sections consider that not all practices will work at every company, and they offer successful alternatives to best practices. Also included are discussions on practices that absolutely should not be used, but may be practiced at other companies.\u003c\/p\u003e \u003cp\u003eTo address the renewed interest in internal audit and controls, such as the Sarbanes-Sarbanes-Oxley Act, the mundane operational aspects of accounts payable are reviewed in a way that focuses attention on issues that are sometimes ignored, such as the master vendor file. Other coverage in Accounts Payable Best Practices includes:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eInnovative T\u0026amp;E techniques used at successful companies\u003c\/li\u003e \u003cli\u003eP-cards–an easy-to-understand innovation that is being adopted by companies everywhere\u003c\/li\u003e \u003cli\u003e1099 reporting, sales and use tax handling and reporting, and unclaimed property\u003c\/li\u003e \u003cli\u003eCash management initiatives that are increasingly falling on the shoulders of the accounts payable departments\u003c\/li\u003e \u003cli\u003eCase studies demonstrating how best practice helped real-world companies achieve outstanding results\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAccounts Payable Best Practices is an essential resource for accounts payable managers, controllers, and CFOs at every size company.\u003c\/p\u003e  \u003cb\u003ePraise for \u003ci\u003eAccounts Payable Best Practices\u003c\/i\u003e\u003c\/b\u003e  \u003cp\u003e\"Given the rapidly changing responsibilities of accounts payable operations, it’s critical to have a resource to keep you up to date–\u003ci\u003eAccounts Payable Best Practices\u003c\/i\u003e is that resource. Each chapter covers one area, identifying and explaining best practices and pinpointing worst practices that you should avoid. By implementing the recommended systems and processes, you can improve the efficiency and effectiveness of your department.\"\u003cbr\u003e —Jon Casher, Chairman, RECAP, Inc.\u003c\/p\u003e \u003cp\u003e\"Mary Schaeffer is the leading author on accounts payable practices. This book provides a complete compilation of practical advice on how an accounts payable department can improve the bottom line. You can pay thousands of dollars to consulting firms to learn the latest buzzwords about business processes, or you can buy this book and get practical tips for implementation.\"\u003cbr\u003e —Dr. Will Yancey, CPA, Independent Consultant\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988654801125,"sku":"NP9780471636953","price":120.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780471636953.jpg?v=1761781136","url":"https:\/\/k12savings.com\/products\/accounts-payable-best-practices-isbn-9780471636953","provider":"K12savings","version":"1.0","type":"link"}