Managing Accounts Payable

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April 2007 Table of Contents [ toggle snippets ]

• MAP April 2007 (full PDF issue)
• ACFE Report Points to Ways to Fight AP-Related Insider Fraud;
  NAPCP Reveals 10 Ways to Maximize P-Card Rebates;
  BEST PRACTICES 12 Steps to a Better AP Policies & Procedures Manual;
  Independent Contractor New Ruling Spotlights Relief From Worker Status Tax Woes;
  Hiring Is Web-Screening AP Job Candidates a Good Idea?;
  MAP Calendar;
  News Briefs;
  Accounts Payable Managers’ Forum
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• ACFE Report Points to Ways to Fight AP-Related Insider Fraud
• You don’t like to think a co-worker is stealing from the company, but it does happen—big time. And a lot of it gets right by the watchful eye of AP, through phony invoices, check tampering, and expense-account abuses.
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• 12 Steps to a Better AP Policies & Procedures Manual
• Whether it’s invoice processing, p-cards, or employee expense reimbursements, the use of formal policies and procedures in the form of a manual is absolutely essential—not only from a procedural standpoint, but from one of control.
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• New Ruling Spotlights Relief From Worker Status Tax Woes
• The issue of whether a worker is an employee or an independent contractor has irked AP managers for a long time. Companies have been hit with millions of dollars in back tax bills for misclassifying employees as independent contractors. Companies must withhold employment taxes on wages paid to employees—but there's no withholding on payments made to independent contractors.
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• Is Web-Screening AP Job Candidates a Good Idea?
• While all AP managers agree it is necessary to screen job candidates before making an offer, is it OK for you to use search engines or social networking sites in the process? According to experts, it is for the most part perfectly legal. But whether the information gleaned is relevant or even accurate could be another matter, privacy advocates and others tell us.
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• MAP Calendar (April 2007)
• The IOMA/TAPN AP Seminar & Certification Exam: The Best Training Program Available for Accounts Payable Pros
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• MAP News Briefs (April 2007)
• This spring, the IRS will start audits of 90 community colleges. The target: payments made to independent contractors. The agency has reason to believe that some colleges are misclassifying employees as independent contractors and not doing the required employment tax withholding. This is according to the agency’s 2007 Work Plan regarding federal, state, and local governments.
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• MAP Future Issues (April 2007)
• • AP and Purchasing Break Down the Silos to Focus on Procure-to-Pay Processes
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• AP Managers Forum: Paperless Routing Takes Heat Off AP
• The AP department at High Point Regional Health System was being blamed for the increase in rush checks. The hospital felt that the increase in rush checks was due to overall processing delays in AP. But was this true? "We needed a way to track where everything was and to determine where the bottleneck areas were in the invoice process," says Brandy Drake, APM, senior accountant, and AP supervisor.
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