Accounts Payable Best Practices [Hardcover]

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.  

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Introduction xi

Chapter 1 Invoices 1

Invoice Handling: Approvals 1

Forwarding Invoices 6

Verifying Invoice Data 8

Invoice-Coding Standards 11

Short-Paying Invoices 16

Paying Small-Dollar Invoices 19

Handling Unidentified Invoices 21

Handling Invoices without Invoice Numbers 23

Case Study: How One Pro Took Accounts Payable Out of the Picture when Resolving Customer Discrepancies 25

Chapter 2 Checks 29

Check Printing 29

Check Signing 35

Check Stock Storage 40

Distribution of Checks 42

Check Fraud 45

Rush or Emergency Checks 50

Case Study: Information Sheet: Segregation of Duties 54

Chapter 3 Operational 57

Duplicate Payment Avoidance 57

Paying When the Original Invoice Is Missing 61

Limiting Calls to Accounts Payable 63

Petty Cash 65

Supplier Statements 69

Case Study: Expert Demonstrates How to Put the Web to Work for Accounts Payable 71&ls$