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Accounts Payable Best Practices: Invoice Handling

Accounts Payable Best Practices: Invoice Handling addresses the nuances of invoice handling best practices in the accounts payable department. It looks at all the steps involved in the process of getting an invoice paid, not just the obvious ones. #Accountspayable #bestpractices around #invoices are critical and are addressed in this
broadcast.

The accounts payable process for invoice handling addresses all the steps in ap process, not just the ones people are most familiar with. Invoice processing best practices include many steps and involve many departments and documents. In addition to the invoice, there’s the purchase order usually prepared by the purchasing or procurement staff, the receiving documents or packing slip prepared by the supplier and hopefully reviewed by the receiving department and sometimes even an Advanced Shipping Notice.

Invoice controls are critical if an organization wishes to avoid making duplicate payments and/or paying fraudulent invoices. That’s why, like other accounts payable functions, invoice processing best practices can be a lot more complicated than many people realize. While this piece looks at what impacts the payment of an invoice each step of the way, it is much more than a Day in the Life of an Invoice, it takes much longer. Accounts payable best practices related to invoice handling are critical for those looking to run an efficient and effective accounts payable function.

Really Bad Check Signing Practices
https://youtu.be/YYB-ZvQZ1Fo

Link to: Paper Checks: More Expensive Than You Might Think
https://youtu.be/cl3v7yDh8vA

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

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

Wordle: How to Win in Fewer Rounds [Win Every Time – Legit]

Wordle: How to Win in Fewer Rounds [Win Every Time – Legit] shares a simple technique everyone can use to win more Wordle games faster. You can win every Wordle game if you use this approach. AT first glance that probably doesn't seem possible. But, I promise you it is.

While the Worlde strategy used by most seems to focus on picking the best first word, this strategy is more encompassing and doesn't just rely on the first word. This video also shows viewers how to play wordle the hard way. So, if you wondered about playing at the hard level in wordle, watch this video to find out why you absolutely should.

Link to The Book: Wordle: The Rules, Strategy and Expert Tips
https://www.ap-now.com/snip/111.htm

Link to the Wordle Play List:
https://www.youtube.com/playlist?list=PLtL6rWSXZ-HefxYm4ymJ0RSWKFC_c9Lys

Link to Wordle in 90 Seconds
https://youtu.be/_Y3y3c8W6JQ

Link to How to Play Wordle
https://youtu.be/U3Qi4UBaKKw

Link to Wordle: Best Starting Word Revisited
https://youtu.be/4FY28GWPddI

Link to Wordle: Best Starting Word
https://youtu.be/BGAPtxljHqY

Interested in learning more about issues impacting accounts payable.
Sign up for AP Now’s free ezine at: www.ap-now.com

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

Fishy Expense Reporting Habits [+ Best Practices to Thwart Them]

Employees use all sorts of tricks to get their employers to pay for meals that are not really reimbursable. In ‘Fishy Expense Reporting Habits’ we examine 5 tactics employees use to defraud their employers and the best practices that will stop them dead in their tracks. Using #expensereports to get employers to pay for meals is a common trick that #accountspayable and #accounting professionals try and stop.

It should be noted that expense reporting is sometimes referred to as travel and entertainment or T&E.

Questionable employee expense reporting habits that cost your company is an ongoing battle. Employees who want to find out how to get your company to pay for your lunch will often use the expense report game playing tactics discussed. Keep in mind that these questionable employee expense reporting habits that cost your company are in widespread use and really should be stopped. That’s why we include the best practices that will put an end to these dubious practices.

These employee expense reporting habits should not be allowed in any expense reporting system. Yet they frequently are. The expense report games employees play cause havoc in accounts payable, accounting, and audit departments as the employee expense reports are reviewed. This expense report abuse is often ignored.

This is AP Sound Bite #92

Link to Expense Reporting Trends: Receipts
https://youtu.be/ftWRVfF9glQ

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

Is that Change of Bank Account Request Legit?

Is that Change of Bank Account Request Legit addresses the very real issue of phony emails containing fraudulent change of bank account requests. These scam emails present a real headache for #accountspayable and #accounting professionals who receive them. These phony email requests to change bank accounts are running rampant in the business world. Fraudulent emails and phony requests to change the bank account where a payment is sent are causing serious financial harm to organizations of all sizes.

Change of bank account requests coming in the form of email requests from suppliers or for that matter email requests from vendors represent still another form of online bank transfer scams. Every company needs to protect against fraudulent change of bank account requests. This podcast show you how. These fraudulent Change of Bank Account Requests are showing no signs of going away, hence using the recommended accounts payable best practice is critical. The change of bank account request is really an attempt to divert funds to a crook instead of a legitimate supplier.

Some change of bank account requests are phony and if the accounts payable best practice for ascertaining the veracity of the request is not used, big monetary losses can occur. The Change of Bank Account Requests frauds have been running rampant across the business landscape. Everyone is advised to follow the Best Practice Approach described in this podcast.

Link to Evaluating Email to Determine if It Is Legit
https://youtu.be/B5YVc_qxyiQ

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

Wordle: Rate Your Wordle Game [Wordlebot]

Rate your wordle game using the Wordlebot. Get Wordle insights into your play based on an analysis provided by the NY Times. Find out how much Wordle skill and how much #Wordle luck is involved in each of your guesses. You’ll also find out what the NY Times considers to be the best starting word. Improve your #wordlestrategy by using the #Wordlebot.

The Wordlebot provides a score for both Wordle skill and wordle luck for each of your guesses. You’ll be able to evaluate your wordle luck vs skill after each game. Do you think you win because of your wordle luck or skill? You’ll be able to find out. If you incorporate the Wordlebot into your Worlde expert game strategy, you may find that you change your best Wordle starting word. 

After you play the Wordle game, you might want to run the Wordlebot to help you win Wordle more frequently. It effectively provides Wordle expert tips to help you improve your Wordle strategy. Effective Wordle tips and strategies are what’s called for if you want to win on a regular basis. A Worlde game expert strategy will include use of the Wordlebot, at least occasionally. Some Wordle expert insights will rely on it. Your Worlde game strategy should include running some of your more difficult hands through it.

Link to The Book: Wordle: The Rules, Strategy and Expert Tips
https://www.ap-now.com/snip/111.htm

 

Link to the Wordle Play List:
https://www.youtube.com/playlist?list=PLtL6rWSXZ-HefxYm4ymJ0RSWKFC_c9Lys

Interested in learning more about issues impacting accounts payable.
Sign up for AP Now’s free ezine at: www.ap-now.com

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

5 Really Bad Check Signing Practices

5 Really Bad Check Signing Practices addresses the payments risk and lack of check signing internal controls when the check issuance process includes one of the five issues discussed in the video. #Checks are typically issued by the #accountspayable department, which is usually part of the #accounting group. These poor check signing practices have the potential to facilitate fraud and make it easier for employees to circumvent controls.

Check signing internal controls should be strong and rigorous to ensure fraudulent schemes aren’t made possible. That’s why check signing is still important and the process is part of the check issuance internal controls. Poor practices enable duplicate payments and fraud. Some of these weak practices include check signing with a rubber stamp, blank signed checks, emergency checks, rush checks, and non-review of backup before a check is manually signed.

Clearly, check signing best practices does not include the practices discussed above but does include check signing machine internal controls.

Really bad check signing processes do not consider payments risk and mostly focus on what’s easy or what’s always been done. The complete lack of check signing internal controls can be a real problem. This is especially true when the check issuance process includes one of the five matters addressed in the broadcast. These weak manual check signing practices have the potential to make fraud easier to perpetrate and make it simpler for workers to get around controls.

Link to Accounts Payable Headaches No One Talks about [Accounting Alert]
https://youtu.be/FDbIf2tHtls

Link to More Accounts Payable Headaches No One Talks about
https://youtu.be/4z7UBwVA8Bw

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

Turn Your Real-Life (Unusual) Skills into Resume Builders

This Turn Your Real-Life (Unusual) Skills into Resume Builders demonstrates how to go about developing skills-based resume. This is not something most #accountspayable or #accounting professionals often think about. Yet, putting different, but somewhat related, skills on your #resume is one way to differentiate yourself from the crowd.

If you are intent on creating skills based cv, then the examples included in this broadcast will help you put together a skills-based resume. The importance of creating a skills-based resume cannot be understated, especially when you are one of many with very similar skillsets and experiences. These tips on creating a skills-based resume will show you the extras that will make a resume stand out from the crowd.

Everyone needs to know how to write a resume and these resume tips will help listeners figure out how to make theirs stand out from the crowd. Whether you are trying to figure out how to write a cv or how to write a good resume that will put you head and shoulders above the rest of the crowd, creating skills-based resume will go a long way. Thus developing skills based cv is one of the best ways to climb the corporate ladder.

Link to Creating a Killer LinkedIn Profile
https://youtu.be/5nsMT8S0ncA

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

Wordle: Blind Spots to Avoid to Win More

Watch Wordle: Blind Spots [Win More] to help you identify the Wordle blind spots that keep you from winning more. Incorporate the identification of these Wordle blind spots, into your wordle winner strategy, if you want to start winning more wordle today. These Wordle gotchas stand in the way of your becoming a Wordle winner on a more regular basis. The Wordle blind spots are the obvious, but often overlooked, strategies that can keep you winning all your Wordle games.

 

These wordle expert tips include a recognition of the Wordle blind spots that hold good Wordle players back and keep them from winning more Wordle games. They will help you take your Wordle game from good to great. The strategies to win more wordle absolutely include the ability to identify the Wordle blind spots.

 

To win wordle on a very regular basis, it is important to avoid these wordle gotchas, the blind spots that stand in the way of you and a spotless Wordle record. These strategies to win at wordle are a critical part of every wordle strategy in 2022. These simple, but effective, Wordle expert tips should be part of every Wordle expert strategy. As your Wordle game improves, you should see the diminishing of your wordle gotcha evolve.

 

Link to The Book: Wordle: The Rules, Strategy and Expert Tips
https://www.ap-now.com/snip/111.htm

 

Link to the Wordle Play List:
https://www.youtube.com/playlist?list=PLtL6rWSXZ-HefxYm4ymJ0RSWKFC_c9Lys

Link to Wordle in 90 Seconds
https://youtu.be/_Y3y3c8W6JQ

Link to Avoiding Common Wordle Mistakes
https://youtu.be/0a5nwui7h6w

Interested in learning more about issues impacting accounts payable.
Sign up for AP Now’s free ezine at: www.ap-now.com

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

 

Accounts Payable Process: Received Not Invoiced or Invoiced Not Received

Accounts Payable Process: Received Not Invoiced or Invoiced Not Received addresses to common #invoice problems encountered by #accountspayable and #accounting professionals everywhere. The issues of ‘Received Not Invoiced’ refers to those goods which
have been received but the company has not been invoiced. The ‘Invoiced Not Received’
issue is the direct opposite. In that case an invoice has been received but there is no
indication that the goods on that invoice have been received.

Standard invoice processing and payment processing addresses these common issues. This
video provides guidance to accounting groups experiencing these issues. It identifies invoice problems and solutions so that companies can deal with a variety of related issues including vendor invoicing tricks.

The invoice processing problems and solutions shared in this broadcast work in manual
invoice processing situation as well as those who have an accounts payable automation
process. It looks at invoice receipt vs goods receipt, and vice versa. The supplier invoice
process can sometimes create the problems discussed.

Watch Lousy Invoice Practices
https://youtu.be/_jpo9vb8NYM

The problem of ‘Received Not Invoiced’ focuses on situations when goods which have been
received but the company has not been invoiced. The ‘Invoiced Not Received’ headache is
the direct opposite. In that case an invoice has been received but there is no indication that
the goods on that invoice have been received. In this case, it could be fraud, or the invoice
could have been lost in the mail or amazingly, the vendor could have forgotten to invoice.

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

Accounts Payable Process: Three-Way Match

Accounts Payable Process: Three-Way Match answers the basic question what is the three-way match. The Three-Way Match is the foundation for the accounts payable function. Accounts payable best practices always include a three-way match. The accounts payable process, if it includes accounts payable best practices, also includes a three-way match. It is
considered a strong #accountspayable internal controls and all #accounting professionals recommend it. #bestpractices

The three-way match concept is an old 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 is a strong accounts payable internal control.

This is episode 144 of the AP Now podcast

The three-way match in accounting involved matching the invoice, purchase order and receiving documents. A good process that includes comparing the purchase order vs invoice vs receipt is how invoices get paid in most organizations. The most commonly asked question in this regard is what is a receiving document, as most are not familiar with that
document as it is sometimes called a packing slip.

Changing Invoice Practices Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

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