Accounts Payable Managers’ Forum (0809)

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Managing Accounts Payable

September 2008

TEAMWORK MINDSET ELEVATES AP Problem: The AP department at this 5,000-employee financial services firm was a generic invoice processing operation mired down in traditional tasks. To bring the department up-to-date, the AP manager realized that she had to rid the department of its stale image and increase productivity.

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September 2008 Table of Contents [ toggle snippets ]

MAP September 2008 (full PDF issue)
AP SHARED SERVICES
Most Important Management Issues for a Centralized AP
AP pros answered the following questions: What was the most underestimated challenge in moving AP from a decentralized operation to a centralized, shared services arrangement? What is the most important leadership skill required to make your AP shared services operation work? What are your future plans to enhance your department?
News Briefs
Watch Out For Phony Invoices...Form 1099 Rule Delay...Tool Reimbursements Taxable...One-Year SOX Delay for Small Biz... New Sales & Use Tax Rulings...and more.
AP Calendar
AP conferences, seminars, and specialized training.
AP Managers’ Forum
Teamwork Mindset Elevates AP.
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WORLD-CLASS AP: How AP Departments Go Through Stages on Their Way to the Top
In the last issue of MAP, we presented some characteristics and performance metrics of "world-class" AP departments, according to research from the Hackett Group. But how does an AP department make the journey from an average performer to world-class status? They go through several stages of maturity, according to Kurt Albertson, director of advisory service for the Hackett Group, who spoke at the recent RECAP/IOMA AP conference in Ft. Lauderdale, Florida.
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P-CARDS: IOMA Data Reveal P-Card Inroads Into the P2P Process
The more organizations make their p-card programs accessible, the higher will be the level of p-card spending. And that’s good, because p-card usage decreases AP’s invoice processing costs. In IOMA’s recent survey of over 250 AP and p-card pros, we asked about card program size and accessibility. That is, the survey inquired about the number of cardholders in the program, the types of employees who have been issued p-cards, and the percentage of total employees who have been issued p-cards.
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NONRESIDENT ALIEN PAYMENTS: Telling the Difference Between a U.S. and Non-U.S. Payee
All payments made to nonresident aliens require special attention and handling. The tax laws and regulations concerning the reporting of these payments are extremely complex. To help you prepare for this year’s reporting, we’ll present a series of articles that explain the essentials of this complicated issue.
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Most Important Management Issues for a Centralized AP
Moving from a decentralized AP operation into a shared services center can be a management nightmare. First, you have to be concerned about getting it up and running. Once that’s done, you have to keep it going smoothly. And then you need to move it forward. Fortunately, there are many AP pros who have gone through this—and you can learn from their experiences so that your job can be a lot easier.
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News Briefs (0809)
FORM 1099 RULE DELAY The Internal Revenue Service is delaying Form 1099 reporting for stock transfers on exercise of incentive stock options, according to a report in the Kiplinger Tax Letter. Companies were supposed to start sending the IRS 1099 forms in 2009 for transfers pursuant to options that were exercised in 2008, but the IRS is suspending that rule for one year to give firms time to get their computers ready. This means companies will…
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Coming in future issues of Managing Accounts Payable (0809)
Successfully Integrating a New Acquisition Into AP Using P-Cards and E-Settlement Tools to Boost AP Productivity How to Overcome Barriers to Paper-Free AP Processing How Gannett Centralized AP Into a Shared Services Center…
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Accounts Payable Calendar (0809)
IOMA AP TRAINING The IOMA AP Training Seminar: The Best Training Program Available for Accounts Payable Professionals Atlanta, Sept. 10; Boston, Sept. 17; Las Vegas, Oct. 15; Annapolis, Md., Nov. 12; Houston, Nov. 19. Go to: www.ioma.com/certification/aptraining.html MANAGING & EXPANDING P-CARD PROGRAMS, Sept. 11, Atlanta. Contact: IOMA Customer Service, 800-401-5937, ext. 2; www.accountspayable360.com. AUTOMATING T&E, Sept. 11, Atlanta. Contact: IOMA Customer Service, 800-401-5937, ext. 2; www.accountspayable360.com. …
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Accounts Payable Managers� Forum (0809)
TEAMWORK MINDSET ELEVATES AP Problem: The AP department at this 5,000-employee financial services firm was a generic invoice processing operation mired down in traditional tasks. To bring the department up-to-date, the AP manager realized that she had to rid the department of its stale image and increase productivity.
Close Snippit | Read Article

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