APNow

P-cards: A Guide to the Many Different Types for Accounting

Ghost card, virtual card, declining balance card, p-card and more. It’s enough to make your head spin. Today, we're diving deep into the world of the many different types of corporate credit cards – at last count we had 10. To help reduce the confusion that some of our accounting, finance, treasury and accounts payable audience might have, Recharged Education’s Lynn Larson is joining us to illuminate the topic.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Link to Expense Reporting: The Dark Side of Personal Cards
https://youtu.be/0Y3TTmu0-qw

Link to AP Now’s Invoice Series
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com

Host: Mary Schaeffer (www.ap-now.com)
Guest: Lynn Larson (recharged-education.com)

US UK S-Ox [Tips on Starting a New Project]

Whether you are starting a new technology project, getting ready for UK S-Ox or simply trying to update your internal controls, the tips from these industry veterans will help you get your project off on the right foot. Make sure you stick around until the end where we’ve got a resource that will help you figure out if your internal controls are as good as you think they are. #SOX #accountspayable #internalcontrols

Whether starting a new project that focuses on an accounts payable issue, such as Internal Controls: Us UK S-Ox [ARGA], or SOX compliance or SOX audit compliance or even Audit, Reporting and Governance Authority (ARGA) these tips will help. This session is part of a longer session on Internal Controls and S-Ox (both in the US and UK). The link is shown below.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

 

Link to Pop Quiz Invoice Internal Controls
https://youtu.be/xUpDs4erAls

Link to whole talk on Internal Controls and S-Ox (both in the US and UK)
AP Week - US to UK Sox - YouTube

 

Discussion Participants

Jamie Radford (https://ap-association.com/)

Rachael Long  (https://www.linkedin.com/in/rachael-long-apam-minstlm-99800942/)

Gemma Durham (https://www.linkedin.com/in/gemma-durham-94285155/)

Mary Schaeffer (www.ap-now.com )

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com

Payment Discussion Highlights: Common Myths Eviscerated

After being pretty staid for many years, the payment process is undergoing some serious changes. The evolution is absolutely amazing. This excerpt from a longer talk (link below), on the major trends sharing the future of payments, focuses on payment evolution and the way companies everywhere are using cards as part of their payment arsenal. During this fast-paced then minute session several common card and payment myths are smashed. Stick around until the end when we share insight on how accounts payable, or for that matter any accounting group, can get involved. #payments #accountspayable #accounting

Recognizing that factor, Jamie Radford, CEO of the Accounts Payable Association, a global organization headquartered in the UK, made sure to include payments as an issue discussed by industry experts as part of AP Appreciation Week. He invited Recharged Education’s Lynn Larson and AP Now’s Mary Scheffer to discuss several related probing payment issues. In this entertaining, yet informative discussion, the challenges and opportunities in the current payment architecture and what lessons can be drawn from Big Tech payment innovations are evaluated with a special focus on cards.

Future Forward Payments might have been another title for this talk.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Link to Playlist on Payments and Emerging Payment Issues
https://youtube.com/playlist?list=PLtL6rWSXZ-HdD-bwCXumxMB64lRKVwm2h

Link to watch entire discussion on Accelerating Payments
https://www.youtube.com/watch?v=0cs89y0twTs

Discussion Participants

Jamie Radford (https://ap-association.com/)

Lynn Larson (www.recharged-education.com)

Mary Schaeffer (www.ap-now.com )

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com

 

 

Check Washing Fraud Scam

Why am I doing a talk on check washing fraud? If you ever heard a talk by Frank Abagnale on Credit Cards you may have heard him talk about this. This may seem like a relic from the past, a scam that thrived in the bygone eras of the '70s, '80s, and '90s, when check fraud was a booming industry. Yet, there's a twist to this tale. 'Check washing' scams are on the rise, prompting warnings from law enforcement nationwide. Against all hope and expectations, this all but forgotten scam has made a comeback, with a vengeance that no cannot be ignored. #fraud #checkwashing #accountspayable

Changes to the Uniform Commercial Code in the mid-90s resulted in companies taking actions that put a real dent in the big business of check fraud. Unfortunately, it’s back with a vengeance! Make sure you stick around until the end when I share the one tactic YOU can use to help protect yourself against this horrific crime. A trending bank fraud, called check washing, starts when a scammer steals your check - out of the mail - then uses chemicals to "wash" off the ink, fills in their own name and cashes it -- cleaning out your bank account. And worse.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Link to Real-Life Fraud: How Hollywood Depicts Accounting Scandals in the Movies

https://youtu.be/dec6bkMhmrE

Link to Check Fraud: Positive Pay [Stop Losses] https://youtu.be/W31n_hPEiSw

Link to Check Signing: Worst Practices
https://youtu.be/YYB-ZvQZ1Fo

Link to AP Now’s Invoice Series
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Subscribe now:
https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com

Host: Mary Schaeffer (www.ap-now.com)

AP Nightmares: Top 13 Easily-Avoidable Mistakes

Have you ever had that sinking feeling in your stomach when you realize (or worse, someone points out in a meeting) that you made a costly mistake in your accounts payable processes that could have been easily avoided? Well, you've got lots of company. In this talk, we'll review the top nightmares, those 13 big easily avoidable AP mistakes, that could be keeping you up at night. What’s more we’ll show you how to avoid them once and for all. In fact, this might be the start of your AP mistake prevention checklist. #accountspayable #accountingaccountspayable #a

Make sure you stick around until the end when we discuss the one really, really simple tactic that everyone should be incorporating into their processes if they are tired of dealing with lost invoices, duplicate payments, late payments and fees and horror or horrors, lost early payment discounts. Whether your team is looking to have accruals explained, or to design an audit process, these tactics will help. They are a regular part of a day in the life of an accountant, a controller and any accounting or accounts payable professional.

The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

Link to How to NOT Make Mistakes in Accounts Payable [Avoid Duplicate Payments]
https://youtu.be/sTftdsXsVbM

Link to 5 Ways AP Has More Work Despite Automation
https://youtu.be/6Rs2eYHcKLg

Link to What You Need to Know to Work in Accounts Payable: Was Knew it Was So Complicated
https://www.youtube.com/watch?v=UGFaUkiNPP0&t=144s

Link to the Avoiding Duplicate Payment playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-Hfm-G5d8-CpBsC3xi-nQTn2

Link to Vendor Credits: Why They May Be Disappearing and How to Stop It
https://youtu.be/Kog6wm8lr_k

Link to AP Now’s Invoice Series
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com Host:

Host: Mary Schaeffer (www.ap-now.com

The Silent Killer: How to Stop Duplicate Payments

There’s a reason we call duplicate payments the silent killer. They eat away at the profitability of your organization, making it difficult to figure out why the company isn’t making as much money as everyone thinks it should. You might think that your company has effective systems in place to prevent duplicate payments, but in reality, it’s much easier than you think for these costly errors to slip through the cracks. #accountspayable #payments #accountspayableprocess

Don’t play the blame game. You can reduce your duplicate payment errors by 97%. This has become an even bigger issue in the last few years as the number of invoice copies has skyrocketed. If you want to protect your company's bottom line and improve your financial processes, it's crucial to understand how duplicate payments occur and how you can stop them. The problem starts when your invoices first enter the company. Make sure to stick around until the end when we share that last step, that many miss, often because they don’t realize how important it is. If you want to learn accounting, this is a necessary component.

The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

 

Link to Avoiding Duplicate Payments: How to Reduce Duplicate Payments and Errors
https://www.youtube.com/watch?v=jzUXOnaSIv0&t=396s

Link to What You Need to Know to Work in Accounts Payable: Was Knew it Was So Complicated
https://www.youtube.com/watch?v=UGFaUkiNPP0&t=144s

Link to the Avoiding Duplicate Payment playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-Hfm-G5d8-CpBsC3xi-nQTn2

Link to Vendor Credits: Why They May Be Disappearing and How to Stop It
https://youtu.be/Kog6wm8lr_k

Link to AP Now’s Invoice Series
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com Host:

Host: Mary Schaeffer (www.ap-now.com

3 Hacks to Improve Accounts Payable Productivity

You won’t believe how easy these shortcuts are and yet many don’t use them. You know that time is money. And when it comes to managing the accounts payable process, wasted time adds up fast. Luckily, there are simple yet effective hacks that can drastically improve your team's productivity and efficiency. In this video, we'll explore three game-changing hacks that will transform the way you manage your accounts payable process. Make sure to stick around until the end when we share a really simple tactic that can take a lot of the stress out of simple emails.

Whether you use NetSuite, Oracle, SAP, Quickbooks or some other accounting software, accounts payable productivity is important. So, stop searching for What is accounts payable automation and start looking at your basic accounts payable process to identify areas where productivity improvements can be made. They will compliment all your automation efforts. Some part of a day in the life of an accountant or a day in the life of a controller or a day in the life of a CFO should be spent looking for productivity shortcuts.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Link to Invoices Without Purchase Orders Can Be Eliminated (What No One Told You)
https://youtu.be/zpNocghaDhQ

Link to Automation Headaches – and how to avoid them
https://youtu.be/IlSK-BG5Xfw

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com

Host: Mary Schaeffer (www.ap-now.com)

Accounts Payable Obsolescence in the Next Three Years [Is Your Job Safe]

Are you concerned about the future of the accounts payable function – whether you work in, manage or have responsibility for it? Do you want to future proof your job? Then this talk is for you. If you saw the movie, Numbers, you might remember those women, the women who did all the calculations behind the first mission to the moon. They did them by hand and people got in rocket ships and were blasted to the moon based on those calculations. So, they had to be correct. Well, the job of a human computer exists no more. Will the same thing happen to accounts payable? Yes and No. Let me explain. Make sure you stick around until the end when I share the one career move that will spell disaster, if you take it in this environment. #accountspayable #accounting #career

Perhaps this will make you wonder what the accounts jobs, gone by 2040? It’s a good question along with Is your job future proof? It’s something to think about when preparing interview questions and answers. Whether you are questioning how accounts payable is explained or accounting explained, the issue of the obsolescence of the accounts payable function or the accounting function is something to take into consideration.

The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

 

Link to 5 Ways AP Has More Work Despite Automation
https://youtu.be/6Rs2eYHcKLg

Link to What You Need to Know to Work in Accounts Payable: Was Knew it Was So Complicated
https://www.youtube.com/watch?v=UGFaUkiNPP0&t=144s

Link to the Avoiding Duplicate Payment playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-Hfm-G5d8-CpBsC3xi-nQTn2

Link to Vendor Credits: Why They May Be Disappearing and How to Stop It
https://youtu.be/Kog6wm8lr_k

Link to AP Now’s Invoice Series
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com Host:

Host: Mary Schaeffer (www.ap-now.com

Bank Account Best Practices: Fraud Protection

You are not going to believe how far a bunch of criminals went recently to make an email look legit. I was blown away when I saw it, but upon reflection, it makes a lot of sense – from their standpoint, anyway. Wait until you hear how they started the fraud. It really got me thinking, about the challenges accounting and finance professionals encounter with regards to keeping both their company’s bank accounts and their own personal accounts safe. Make sure you stick around until the end when we share one tactic that you absolutely should not do. And before you say, there’s no way I would ever do that, keep in mind I’m mentioning it because I heard Mr. Beast – one of the most successful young YouTube entrepreneurs mention laughingly that he had done this exact thing … and of course, he’s changed this practice.

The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

Link to FRAUD Alert 13 Warning Signs
https://youtu.be/zPiYdAYaEhA

Link to Accounts Payable Month Playlist (long and shorts) https://youtube.com/playlist?list=PLtL6rWSXZ-HdXQrxOFqXLPw5t0g7YjhVh

Link to Can You Spot the Phony Email Address
https://youtu.be/8IkeqkkQ2Do

Link to Accounts Payable Best Practice Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9V

Link to Changing Invoice Best Practice Playlist https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Link to Accounts Payable Internal Controls Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com Host:

Host: Mary Schaeffer (www.ap-now.com)

5 Ways AP Has More Work Despite Automation

Why is no one talking about the increase in the workload of almost every accounts payable department. We keep hearing about smaller accounts payable departments due to the “supposed” decrease in work thanks to automation. But that does not address the very real issue of the increased workload every best practice organization has – often thanks to automation as I’ll explain. For if organizations don’t address these issues, they’ll end up with frauds so massive they could sink the entire company. Make sure to stick around until the end when I address the not only the obvious headache, but the offshoot of it, which few fully appreciate. #accountspayable #accountspayableautomation #accountspayablebestpractices

The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

Link to Change of Bank Accounts Requests: The Best Practice
https://youtu.be/5gy4WHO9dAo

Link to Can You Find the Phony eMail address:
https://youtu.be/8IkeqkkQ2Do

Link to Accounts Payable Month Playlist (long and shorts) https://youtube.com/playlist?list=PLtL6rWSXZ-HdXQrxOFqXLPw5t0g7YjhVh

Link to Can You Spot the Phony Email Address
https://youtu.be/8IkeqkkQ2Do

Link to Accounts Payable Best Practice Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9V

Link to Changing Invoice Best Practice Playlist https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Link to Accounts Payable Internal Controls Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com Host:

Host: Mary Schaeffer (www.ap-now.com)

#accountspayable #procuretopay #p2p #purchaseledger #Accounting #accountspayableprocess #accountspayablebestpractices #bestpracticesforaccountspayablemanagement