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Never Use this Accounts Payable Metric

The One AP Metric You Should NEVER Use – Even though your boss probably loves it! Never use the accounts payable metric cost to process an invoice. If #benchmarking using this #accountspayable (#accounting) metric, you are apt to make some very poor decisions.

That is we recommend that you Never Use this Accounts Payable Metric: cost to process an invoice. Yet that is what happens in many accounts payable benchmarking endeavors. For some reason, competitive benchmarking is what many organizations strive for. They think it is one of many accounts payable best practices. But a competitive benchmarking process makes a lot of assumptions, many of which are faulty and discussed in this recording.

The benchmarking process when it involves invoice processing metrics should be one that makes sense for the organization involved. When looking at accounts payable metrics it is important to do this in the proper context. Accurate accounts payable benchmarking metrics are next to impossible to find, especially when looking for cost to process an invoice. The reasons for this are discussed in this recording.

To properly benchmark accounts payable, it is probably best to benchmark against your own processes. This would be a payables best practices.

When doing competitive benchmarking Never Use this Accounts Payable Metric, the cost to process an invoice. Accounts payable benchmarking is more nuanced. When handled properly benchmarking is a good part of accounts payable best practices.

Link to What You Need to Know to Work in AP https://youtu.be/UGFaUkiNPP0

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

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

Business Writing: Don’t Do This [Career Killers]

Business writing don't do this focuses on the common business writing mistakes people make in business email. What to avoid in business writing will help you avoid making career ending email mistakes. This is true for #accounting professionals as well as those working in other fields. #Businesswriting is often an overlooked skill and many need to focus on it to avoid making common career mistakes.

These go beyond the the 7 cs of effective business communication. The 10 common career mistakes discussed in this video are made by more people than you might imagine. Effective writing skills for accountants and accounts payable is rarely taught. Business email writing basics is important to avoid making the most common of errors.

Business writing help for accountants is rare. To make business email effective, it is imperative that professionals identify the email mistakes to avoid, and then don’t make them. Professional business writing skills are critical, yet effective writing skills for business professionals is not an area covered in the courses offered by most companies to their employees. Yet many could use some basic business writing help. The goal of this piece is to provide business writing tips for professionals.

Link to 3 Common Career Killers: https://youtu.be/rp6c_J3uemA

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

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

Wordle: Fun Facts

Wordle Fun Facts includes some Lego, Google, and Twitter Wordle facts. If you want to know How to always win Wordle, the answer is there is no guarantee. But you can almost always win. Wordle Fun Facts reference Wordle mentions and applications in the popular press, on TV shows and novel ways companies are using #Wordle. In fact, one business magazine (Inc. Magazine) referred to Wordle as the virtual water cooler. #FunFacts #WordleFunFacts

Wordle has fast become part of our popular culture. The Wordle rules are pretty straightforward, guess the right five letter Wordle word of the day, in six tries. With a little bit of strategy anyone can win. While you probably can’t be guaranteed to win all the time, you can come pretty close. When discussing popular culture Wordle is often mentioned.

AP Now set up the wordle information page to share Wordle resources with you. This will help you win Wordle all the time, correction, almost all the time. The wordle game online free so everyone can play. The wordle word game is fast becoming a part of popular culture.

Wordle expert tips are shared in other videos. In this one we are sticking to what we call Wordle Fun Facts. You can join the virtual water cooler by playing Wordle and sharing your results.

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: Picking the Best First Word
https://youtu.be/BGAPtxljHqY

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

Interested in accounts payable and payment issues (including automation, 1099s, fraud etc.) visit our sponsor AP Now. See our other broadcasts on this channel.
Learn more about AP Now at www.ap-now.com

Accounts Payable vs. Accounts Receivable: What’s the Difference

Accounts Payable vs. Accounts Receivable: What’s the Difference is a rather common question. Many outside accounting don’t know what the difference between accounts payable and accounts receivable is. You will sometimes see it written as AP vs AR or AR vs AP. Most in #accounting and #accountspayable understand the nuances of #accountspayablevsaccountsreceivable

That being said, many don’t understand what's the difference between accounts payable and accounts receivable. They want to know accounts payable and accounts receivable meaning and that’s why they do this search. Accounts receivable and accounts payable the opposite sides of a coin, in a manner of speaking. Knowing what is accounts receivable and accounts payable is the basis for a decent accountant.

What is accounts receivable and payable is an often searched google question, sometimes written as ap vs ar or perhaps ar vs ap. Another way this issue is researched is through the google search payment receivable.

To bring the points home in this short talk, real-life examples of accounts payable and accounts receivable are included. Receivables and payables are key issues for most organizations as they relate to the cashflow of the company, which some refer to as its lifeblood. Payables and receivables are critical. Accounts billable is how a few refer to their receivables. Payments and billing must be kept up to date if the organization wishes to survive. The talk also includes real life accounts payable examples, as well as real life accounts receivable examples.

Link Finding Cash Hidden in Accounts Payable
https://youtu.be/fnpegmMJAE0

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

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

Accounts Payable Headaches No One Talks about [Accounting Alert]

Accounts Payable Headaches No One Talks about [Accounting Alert] is an issue every company should address. These accounts payable headaches are often overlooked by the accounting staff. That’s why I wanted to call this video, Accounting Alert but was talked out of it. #accountpayable headaches need to be addressed by the #accounting staff and these include some #automation issues.

These accounts payable problems revolve around a number of issues including, but not limited to, expense reports, invoices, suppliers, rush payments, dealing with purchasing, fraud, fraud protection, discrepant invoices, duplicate payments, rush payments, invoice automation, automation and accounts payable automation.

There’s a reason accounts payable professionals sometimes talk about training suppliers. That’s because suppliers who don’t follow the company rules create an enormous amount of additional work for the accounts payable staff, as do those employees who turn in late expense reports. Other issues related to supplier pushback that create headaches for those who work in accounts payable include collecting W-9s, vendors who refuse to supply W-9s, the constantly changing 1099 rules, and 1099 reporting in general. These 1099s cover independent contractor rules for tax reporting.

Link to 127 Best Practices in Accounts Payable (book)
https://www.amazon.com/127-Best-Practices-Accounts-Payable/dp/1735100021/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1643998293&sr=8-2

Link to What You Need to Know to Work in AP
https://youtu.be/UGFaUkiNPP0

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

Host: Mary Schaeffer, founder AP Now (www.ap-now.com)

Wordle: The Secret Winning Strategy

Do you know the Wordle The Secret Winning Strategy? The Wordle secret strategy doesn’t break the wordle the rules or the wordle game instructions. When you play #wordle your #wordlestrategy should include a strategic #wordlefirstword. That’s when the secret (but fairly obvious, once I tell you what it is) will kick in.

Today many, many people know how to play wordle and are looking for the edge that will help them win wordle wordle at every time. The secret strategy doesn’t break the wordle the rules and can probably be considered one of many wordle expert tips.

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

 

Link to Wordle: Picking the Best First Word
https://youtu.be/BGAPtxljHqY

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

AP Now set up the Wordle information page on its website to help its members who play Wordle every day. They know that the wordle game online free and most know how to play wordle.

They are simply looking to refine their game, for the strategies to win wordle. The wordle game play is fairly straightforward if you know how to play wordle online. And don’t forget to check out wordle twitter, where many post their daily scores.

Watch the video to learn Wordle The Secret Winning Strategy The Wordle secret strategy will take your Wordle game to the next level and can easily be incorporated into your wordle strategy.

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

Expense Reporting Trends: Receipts

Expense Reporting Trends Receipts focuses on changing Expense Reporting Trends when it comes to receipt requirements. Most expense reporting system do not identify easily expense report abuse. That’s why there has been a seismic change in the requirements most companies have for their employees and their expense reports.

This has nothing to do with the IRS receipt limit but rather corporate perception of employee behavior based on experience. Unfortunately, there is quite a bit of expense report game playing in the business world. Although most people don’t really like to think that expense report abuse is significant, it happens more than you might imagine.

Expense report trends revolve around receipts and the detailed meal receipt. Spot checking is an acceptable process especially for those not using an automated expense reported process. While verifying receipts can be a tedious process it is critical when it comes to identifying expense report fraud. Regrettably expense report abuse is endemic and thus every organization must address it. The old $24.95 problem has expanded to include many other types of gameplaying that ultimately defraud the employer.

Expense Reporting Trends with regards to Receipts employees must turn in with their expense reports focuses on changing Expense Reporting practices and receipt requirements. Corporate requirements can be different than IRS requirements, if they are more stringent.

Watch Questionable Employee Expense Reporting Habits that Cost Your Company:
https://youtu.be/zfimnwx64IE

This is sound bite #69

Watch sound bite #55 Questionable Employee Expense Reporting Habits that Cost Your Company https://youtu.be/zfimnwx64IE

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

8 Accounting Misconceptions about Accounts Payable

8 Accounting Misconceptions about Accounts Payable focuses on the misconceptions about accounts payable held by many accounting professionals, including controllers and assistant controllers. They may understand accounting basics but when it comes to accounts payable, it’s a whole different story. #accounting #accountspayable #payments

The basic accounting function usually includes the accounts payable team intent on weeding out duplicate payments and identifying unscrupulous vendors. Yes, there are some. Most accounting tutorials don’t look into that.

Fraud is an ongoing issue for every accounts payable team. The accounts payable group handles a lot more than just basic bookkeeping. They need to know the latest information about fraud protection to ensure money isn’t sent to someone who shouldn’t get it. It is part of accounting explained as it is key to protecting the bottom line.

While automation, be it invoice automation or accounts payable automation, helps run a more efficient operation, it is not the silver bullet many were hoping for. As part of the accounting equation, accounts payable automation has its place. The accounts payable function has a meaningful role in the accounting cycle, and the professionals who work in the department are a lot more than paper pushers. To call accounts payable paper pushers undermines the hard work they do as it relates to the general ledger, income statement, balance sheet.

This is Episode 139 of the AP Now Podcast

Watch 9 Reasons Why Your Automation Project Fails https://youtu.be/Z3oITKT0LR0

Watch Who Knew you Needed to Know so Much to Work in AP
https://youtu.be/UGFaUkiNPP0

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

Wordle Winners: Avoid These 10 Common Mistakes

Wordle Winners: Avoid These 10 Common Mistakes, Wordle Winners create a Wordle strategy that includes Wordle Mistakes to Avoid. Common Wordle Mistakes are made more frequently than you might imagine. #Wordle #Wordlemistakes #Wordlewinner

If you are looking for a Wordle for idiots, this is the video for you. It focuses on wordle play online and helps with your Wordle strategy. The wordle game online free and best of all, there is a new wordle game every day, every single day.

If you want to win wordle avoid the errors detailed in this talk. If you want to know how to win wordle make sure you don’t do the silly things discussed herein. It contains not just wordle tips but wordle expert tips. Yes, wordle is free, wordle free. The wordle rules are easy to understand and once you do, you will know how to win wordle, almost every single time. Just avoid wordle mistakes, especially the silly ones. By avoiding common wordle mistakes you can win wordle, almost every time. So, focus on Wordle Mistakes to Avoid and then don’t make them.

If you want to be a wordle winner, avoid these common silly mistakes. They can make the difference between you solving the #Wordle word of the day or not.

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

 

Wordle: The Rules, Strategy and Expert Tips Book Link: https://www.ap-now.com/snip/112.htm

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

Link to Wordle: Picking the Best First Word

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

Link to Creating a Social Media Presence Episode 121: https://www.youtube.com/watch?v=OuJfBGrJGnY&t=825s

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

Protect against USB Flash Drive Scams

Protect against USB Flash Drive Scams, the newest scourge sweeping the business world. Learn how this fraud is being perpetrated and how to protect against usb scams. #Accountspayable and #accounting professionals need to know about this latest usb flash drive fraud. #Accountspayable and #accounting #fraud protection planning means now focusing on where those USB drives came from.

Unfortunately, this usb flash drive scam alert is very real. The details of the amazon flash drive scam are explained in the video. This is more than just a fake flash drive. It is one of the newest fraud trends, the usb flash drive scam.

Corporate fraud protection means taking every new fraud alert seriously. Fraud prevention detection is a critical part of any fraud protection advanced protocol. Also be aware of the covid warning flash drive scam, another variation of this fraud. Make sure it is part of your fraud protection 2022 processes for payment fraud management continues to be an important issue for all companies.

This is just one of many payment fraud trends, directly impacting accounts payable fraud planning. The payment fraud management is a critical part of any accounts payable and/or accounting function.

This is sound bite #67

Link to Fraud Protections that No Longer Work: https://youtu.be/v_ZI6K6Es4Y

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

It is critical that every company learn how to protect against USB Flash Drive Scams. This is just the latest scourge sweeping the business world. Learn how this fraud is being committed and how to protect against usb frauds.