Accounts Payable Managers’ Forum (July 2005)

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Managing Accounts Payable

July 2005

Problem: Carlson Restaurants Worldwide (Dallas) is the operator of T.G.I. Friday’s and Pick Up Stix restaurants. The company found discrepancies between prices it negotiated for food supplies from vendors and what the vendors were actually charging on invoices. The company wanted an ongoing mechanism for uncovering this type of rip-off and to pinpoint the most price-effective suppliers.

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July 2005 Table of Contents [ toggle snippets ]

MAP July 2005 (full PDF issue)
The Top Five Strategies You Can Use to Boost AP Department Performance in 2006;
How Three Firms Cleaned Up Their Master Vendor Files;
Accounts Payable Year-End Checklist Simplifies Process;
Company's Dilemma Spotlights 'Away From Home' Travel Rule;
News Briefs;
Accounts Payable Calendar Accounts Payable Managers’ Forum
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The Top Five Strategies You Can Use to Boost AP Dept. Performance in 2006
Improving systems and procedures is the foremost strategy to enhance the performance of the accounts payable department. This is revealed in our latest survey of hundreds of readers who told us the ideas they used over the past year that were the most successful in changing or improving their AP operations. Other top strategies include doling out more responsibilities to AP staffers, wrenching better AP data from other departments, leveraging technology, and putting the kibosh on rush checks.
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How Three Firms Cleaned Up Their Master Vendor Files
Your master vendor file is like your car’s windshield. If you don’tkeep it clean, you could have a bad accident. A messy vendor file can trigger all kinds of problems, such as fraud, duplicate payments—and trouble with Uncle Sam.
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Accounts Payable Year-End Checklist Simplifies Process
No, it’s not too early to begin to plan for year-end. In fact, by now there are some things that you should have already done. Luckily, it’s not too late to catch up and get everything accomplished.
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Company's Dilemma Spotlights 'Away From Home' Travel Rule
For travel expense reimbursements to be tax-free to the employee, the travel must be done while "away from home." The trouble is, the meaning of the word "home" can be confusing. One company recently asked the Internal Revenue Service for help—but was refused. So here is our answer.
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Coming in future issues of Managing Accounts Payable
Year-End Planning Tips and Checklists
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News Briefs (July 2005)
There’s a new convenient way to train for the IOMA/TAPN certification program. The complete AP Training Seminar Program is now available online from IOMA and so is the Certification Exam. With this new setup, you can watch the entire seminar wherever and whenever you choose. The exact same training materials are available to you through this online program as you’ll get at any of our onsite seminars. Plus, you can click through to take the…
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Accounts Payable Managers� Forum (July 2005)
Problem: Carlson Restaurants Worldwide (Dallas) is the operator of T.G.I. Friday’s and Pick Up Stix restaurants. The company found discrepancies between prices it negotiated for food supplies from vendors and what the vendors were actually charging on invoices. The company wanted an ongoing mechanism for uncovering this type of rip-off and to pinpoint the most price-effective suppliers.
Close Snippit | Read Article