131 Best Practices for Accounts Payable

As the business world evolves, technology improves and unfortunately, new frauds pop up, best practices must change. And that’s just the beginning of the challenges. New regulatory reporting requirements require more tracking and reporting AND AI is infiltrating the business world at a rapid speed. It’s changing a lot of processes. While it can be used to run a more efficient and effective process, professionals have to figure out how to use it to help them. That’s part of the reason why this book was created. 131 Best Practices for Accounts Payable includes the latest best practices every organization, large or small, should use to run an effective, cost-efficient, regulatory-compliant accounts payable function. It contains:Explanation of each issue and where applicable an Almost Best Practice is offered, along with some Worst Practices.131 best practices needed for operational excellence.These best practices reflect the challenges revealed during the COVID crisis, the procedures required for remote working in accounts payable and of course, the latest fraud protection advice.Special insights and tips for the accounts payable staff dealing with the matter.25 sketches, reflecting on both the humorous and ludicrous facets of some accounts payable departments.It is the update of 127 Best Practices for Accounts Payable.Table of ContentsList of SketchesAcknowledgementsIntroductionChapter 1: Managing the AP FunctionChapter 2: Master Vendor FileChapter 3: Invoice ProcessingChapter 4: Invoice ProblemsChapter 5: ChecksChapter 6: ACH (Electronic Payments)Chapter 7: P-cardsChapter 8: Payment StrategyChapter 9: Policy and Procedures ManualChapter 10: Operational AspectsChapter 11: Duplicate Payment IssuesChapter 12: Internal ControlsChapter 13: Fraud Prevention: GeneralChapter 14: Fraud Prevention: ChecksChapter 15: Travel and Entertainment PolicyChapter 16: Expense Reporting IssuesChapter 17: Regulatory Issues: Information ReportingChapter 18: Regulatory Issues: Unclaimed PropertyChapter 19: Regulatory Issues: OtherChapter 20: TechnologyChapter 21: Communications/Vendor RelationsChapter 22: Cash ManagementClosing ThoughtsGlossaryAbout the AuthorIndex Read more