March 2002 | Vol. 2002 No. 03

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Managing Accounts Payable

Managing Accounts Payable is the leading source of information for accounts payable professionals and those responsible for the function. Each monthly issue contains 5-7 articles, 6-10 short news clips, a manager's forum on the back page and calendar of upcoming seminars and conferences. The material comes from internal research, surveys, case studies, conference material and interviews.

Subscribers to the newsletter have the opportunity each year to participate in a benchmarking or operations survey. Participants receive the results for free. Topics covered in the newsletter include: invoice handling; check preparation, printing and filing; exception and Rush check processing; techniques for reducing duplicate payments; staff and career management; working with other departments, master vendor files; terms and discounts; T&E; VAT Reclaim, EDI; XML; technology; imaging p-cards; post audit firms; benchmarking; 1099s; check fraud; case studies; escheat or unclaimed property; and sales and use tax. Spot e-mail surveys are also conducted and reported on when issues such as the 9/11 tragedy occur.

The newsletter sponsors five accounts payable conferences each year. An annual buyers’ guide is included with a subscription.

March 2002 Table of Contents [ toggle snippets ]

March 1, 2002 (Full PDF Issue)
In This Issue:

Batch or Alpha Invoice Filing—Which Is Best For Controls & Research.
45 Best Practices You Can Use to Raise A/P Department Productivity.
Is Your Corporate Culture Ready for A/P Outsourcing?
16 Ways to Use Technology to Improve A/P Dept. Operations.
Case Study: 4 Steps One Company Could Have Used to Prevent Employee Fraud.
Accounts Payable Miscellany.
7 Habits of Highly Ineffective A/P Professionals.
Managing Accounts Payable Calendar.
Accounts Payable Managers’ Forum.

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Accounts Payable Managers’ Forum (March 2002)
1. Keeping morale high in accounts payable.
2. Reducing incorrect freight payments.

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Seven Habits of Highly Ineffective A/P Professionals
Most accounts payable professionals work very hard. Yet often at the end of the day some feel they have accomplished nothing. More to the point, they’ve usually completed a lot—just not what they had planned. To help accounts payable professionals alleviate this problem Jerry Teplitz, principal of Jerry Teplitz Enterprises, Inc. (Virginia Beach, Va.), has identified the following “timewasters” that can swallow the best-planned days.

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Case Study: Four Steps One Company Could Have Used to Prevent Employee Fraud
The potential for employee fraud is great as most studies show and is especially acute in large companies. Moreover, accounts payable is often in a position to uncover the fraud, if the staff is alert. The case discussed in this article takes an after-the-fact look at a real life fraud and identifies the steps that the accounts payable department could have taken to uncover the fraud.

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16 Ways to Use Technology to Improve A/P Department Operations
Productivity increases in accounts payable over the next few years are likely to come not necessarily as a result of process improvements but thanks, in large part, to innovations made possible by technology. Most accounts payable departments are looking for ways to decrease the number of paper invoices coming through the department. In Managing Accounts Payable’s most recent reader survey, respondents shared their productivity improving techniques.

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Is Your Corporate Culture Ready for A/P Outsourcing?
Do many of the executives in your company think that the accounts payable function is a no-brainer and could easily be outsourced? If so, they might be interested in the experiences of another company who thought exactly the same way. Consultants often advise companies to outsource their “nonstrategic or noncore” functions. While those who work in accounts payable can foresee the potential problems with this approach, management often does not and goes ahead with the outsourcing. Speaking at an IOMA/IMI Managing Accounts Payable conference, Mary N. Birmingham shared Equiva Services’ experiences on the outsourcing roller coaster.

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45 Best Practices You Can Use to Raise A/P Department Productivity
When accounts payable folks go to a conference, their bosses often expect them to come back with information they can use to improve their productivity immediately. Recognizing this fact, Recap’s Jon Casher included a number of Quick Tips in his talk at recent IOMA/IMI Managing Accounts Payable conferences. He also reviewed best practices in 10 key accounts payable areas.

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Batch or Alpha Invoice Filing—Which Is Best for Controls and Research
The need to quickly and easily research invoices, as well as route, pull vouchers with special attachments, and handle remittance stubs, all build off a process that can make or break your department. Ultimately, how you handle the process boils down to essentially whether you want to use a batch or alpha filing system. To get a perspective on which is better, MAP turned to the discussion raging on its chat group at www.ioma.com.

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