Sarbanes-Oxley Toolkit: AP Recordkeeping Requirements to Ensure Compliance
May 2005
Main article
For the most part, accounts payable professionals consider themselves lucky if they get the company’s invoices paid in a timely manner. Some give little thought to how and where those items are recorded in the general ledger. Thanks to Sarbanes-Oxley, getting the bills paid on time is no longer adequate. Items must be recorded in a timely manner to the correct accounts. Otherwise, budgets and financial statements may end up with incorrect information on them. Here are some of the things that must be done when recording payment information if the company wants to be in compliance with Sarbanes-Oxley:
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