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Managing Accounts Payable
AP & Cash Management: Cutting-Edge Way to Capture Elusive Invoice Discounts
May 2008
In this economy, many organizations are looking for ways to conserve cash. One way AP can help is through invoice discount management. If your AP department isn’t making the most of the potential discounts from suppliers, you’re missing out on a golden opportunity to turn AP into a “cash generator” for your organization.
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May 2008 Table of Contents [ toggle snippets ]
 MAP May 2008 (full PDF issue)- AP & CASH MANAGEMENT
Cutting-Edge Way to Capture Elusive Invoice Discounts
Gaining popularity as a cash management tool is “dynamic discounting,” explains Henry Ijams of Paystream Advisors.
AP Calendar
AP conferences, seminars, and specialized training
EMPLOYEE EXPENSES
Latest Cost Benchmarks Help AP Analyze and Control T&E
AP is in the catbird’s seat with respect to spend analysis of T&E—the second largest category of controllable costs.
News Briefs
IRS, States Find Form 1099 Abuses….P-Card Controls of Choice….Restrict Vendor File Access….Barriers to E-Payments….New Sales and Use Tax Rulings….& more.
AP Managers’ Forum
Auditing Master Vendor File Changes
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- How the AP Manager at Tellabs Achieves Success With Metrics
- To manage any kind of operation, you need to measure its performance. Without measurements, you simply cannot assess how you are doing today versus yesterday—and how to improve for tomorrow. This may seem very philosophical, but it does work in practice—as one seasoned AP manager discovered.
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- Paper-Free AP: It Takes Much More Than Technology for AP to Go Paperless
- For an AP department to take a leap along the paperless continuum, it must commit to more than just technology. Without support from the “C” level suite (CFO, CEO, and others), your paperless program will never get off the ground. You also need back-up from IT, commitment from the AP department, and the cooperation of the rest of your organization’s employees.
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- Compensation: Survey Reveals Gender Gap Still Exists in AP Salaries
- The gender gap in terms of salaries for AP pros is still there, reveals IOMA’s latest AP salary survey. Over 500 AP pros responded to the survey, which shows that the gender gap is most pronounced below the AP manager level. But there’s also a “hidden gap” at work here. That is, in some cases, women are not being compensated for their greater years of experience.
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- AP & Cash Management: Cutting-Edge Way to Capture Elusive Invoice Discounts
- In this economy, many organizations are looking for ways to conserve cash. One way AP can help is through invoice discount management. If your AP department isn’t making the most of the potential discounts from suppliers, you’re missing out on a golden opportunity to turn AP into a “cash generator” for your organization.
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- Accounts Payable Calendar (0805)
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IOMA AP TRAINING
The IOMA AP Training Seminar: The Best Training Program Available for Accounts Payable Professionals
Charlotte, NC, May 14; Philadelphia, May 21; Ft. Lauderdale, June 4; Chicago, June 19; San Jose, CA, July 16; Nashville, July 23; Portland, OR, Aug. 13; Toronto, ON, Aug. 20; Atlanta, Sept. 10; Boston, Sept. 17; Las Vegas, Oct. 15. …
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- Latest Cost Benchmarks Help AP Analyze and Control T&E
- One of the ways AP can add value to the organization is in the area of spend analysis. And in these tough times, one great area to focus on is T&E. After all, T&E is the second-largest category of controllable costs, after payroll. And AP is in the catbird’s seat with respect to T&E analysis. Why? Because all of the T&E cost data resides in AP.
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- News Briefs (0805)
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IRS, STATES FIND FORM 1099 ABUSES
In conjunction with several states, the Internal Revenue Service has created a Questionable Employment Tax Practice workgroup to identify employers that misclassify employees as independent contractors. In one state, New York, a task force examined over 100 employers and found that at least 2,000 workers were misclassified as independent contractors. The probe, which focused on the construction and restaurant industries, found that the misclassifications resulted in $19 million in…
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- Coming in future issues of Managing Accounts Payable (0805)
- New Research Reveals Best Ways to Improve T&E Processing Lessons Learned From Consolidating AP Operations Effective Communication of AP Policies & Procedures Using “Intelligent” Scanning to Automate Invoice Processing New Survey Details Best Practices for P-Card Programs AP Manager of the Year Advises How to Pitch Your AP Project to the Top Brass Making Sense of the Options for E-Invoicing Newest Update on Best Practices for Every Area of AP…
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- Accounts Payable Managers' Forum (0805)
- AUDITING MASTER VENDOR FILE CHANGES
Problem: AP managers should review changes made to the master vendor file in order to detect errors and any unusual activity that may indicate fraud. One company uses an exception report, from which several checks are selected each week and fully audited. However, in theory, a vendor could be set up, an invoice entered and paid without ever being seen by a manager. “We needed a way to assure that the information that was coming into our systems on the front end was flawless or as close as possible,” says Dan Hart, manager of corporate financial accounting at NSK Americas.
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