Managing Accounts Payable

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June 2007 Table of Contents [ toggle snippets ]

• MAP June 2007 (Full PDF Issue)
• How to Avoid a Sales Tax Nightmare in Your P-Card Program;
  AP Compensation: New Study Reveals Pay Variations by City, State, & Region;
  Exclusive Survey: Larger Companies Move to Adopt AP Shared Services;
  Latest BTN Benchmarks for Employee Travel Costs in 100 Cities;
  What's New on AccountsPayable360?;
  MAP Calendar (June 2007);
  News Briefs (June 2007);
  Accounts Payable Managers’ Forum (June 2007)
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• How to Avoid a Sales Tax Nightmare in Your P-Card Program
• When you implement—or grow—your p-card program, the last thing you want is a sales tax surprise. The states have been eyeing the growth of p-cards and are aware that with this growth comes the increased chance that companies will fall out of compliance with sales and use tax rules. That’s why you need to minimize the risk that the states will come in and slap you with a huge bill for back taxes and penalties.
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• AP Compensation: New Study Reveals Pay Variations by City, State, & Region
• Different market conditions, the cost of living, and other local factors affect the earnings of AP managers in the various geographic areas, according to IOMA’s AP Compensation Report 2007.
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• Exclusive Survey: Larger Companies Move to Adopt AP Shared Services
• The vast majority (80%) of AP departments are organized as a centralized function, not part of a formal shared services center, according to IOMA’s AP Compensation Report 2007. However, AP in a shared services center has made inroads at large companies.
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• T&E Cost Control: Latest BTN Benchmarks for Employee Travel Costs in 100 Cities
• As AP departments move employee expense reimbursements to automated systems, less time can be spent on transactions processing—and more time can be spent on analysis of travel and entertainment (T&E) costs. This is where external benchmarks come in. They can be a useful analysis and monitoring tool—and they can serve as a reference for business travelers as they make their plans.
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• Accounts Payable Calendar (June 2007)
• AP CERTIFICATION TRAINING The IOMA/TAPN AP Seminar & Certification Exam: The Best Training Program Available for Accounts Payable Pros Chicago: June 17 San Antonio, TX: June 21 Charlotte, NC: July 19 Salt Lake City: August 9 Go to www.ioma.com/certification/aptraining.html. AP ISSUES FORUM: PAPER-FREE AP, June 17-19, Chicago. Contact: IOMA Customer Service, 800-401-5937, ext. 2; www.ioma.com/AP/. UTILIZING AP BENCHMARKING & METRICS TO DRIVE PROCESS IMPROVEMENTS, June 20, Boston; Aug. 13, Atlantic City. Contact: Nat Goodman & Associates, 630-355-9404, www.goodmanassociates.net. …
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• What's New on AccountsPayable360?
• AccountsPayable360.com is a free Web site designed to be the most extensive information portal on everything AP related. There are over 2,000 pages of case studies, AP research findings, benchmarks, compensation data, news, sample policies, tools, resources, how-to’s, and much more—and it’s growing every day. Also, there are online forums that allow AP pros to share ideas and seek—or offer—advice on any AP topic they choose.
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• News Briefs (June 2007)
• IRS UPS SCRUTINY OF NRA PAYMENTS The Internal Revenue Service continues to increase its focus on withholding and reporting compliance for payments to nonresident immigrants, because payments to vendors have been problematic, according to Todd Larsen, IRS team manager for the U.S. withholding agent program in New York. While many have gone through the IRS Voluntary Compliance Program (which has ended) and brought their systems in line, many have not, he said. One of the most…
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• Coming in Future Issues of Managing Accounts Payable
• New Survey Reveals P-Card Metrics and Best Practices Banks Make Major Move Into Electronic Invoicing and Payment Arena Exclusive Sneak Peak at New AP Research on Web Invoicing, AP Outsourcing, and More Implementing a Dynamic Discounting Management Program How to Take the Headaches Out of Your 1099 Reporting Process New Research Reveals Best Ways AP Depts. Cut Costs and Enhance Operations AP and Purchasing Form New Alliances to Streamline Procure-to-Pay Processes Practical Advice on Planning for Offshoring AP Operations New Research Reveals…
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• Accounts Payable Managers’ Forum
• MOVING TO AN INTEGRATED AP SYSTEM Problem: The six-person AP department at the Pampered Chef, a seller of kitchen tools, did not have an automated three-way match and had to manually match invoices to POs and receiving. The company implemented a new accounting system to do automated matching. As a result of the new system, AP was faced with the challenge of integrating responsibilities between departments.
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