Accounts Payable Best Practices
Protect Profits and Boost the Bottom Line
Helen Tueffel Vice President, Global Solutions, Retail at APEX Analytix shared with the Journal of Accountancy, best practices to reduce the risk and exposure due to mistakes often created by systems put in place to automate the AP process. Discover tips that will help you reduce the amount spent on account payable functions. Helen covers these best practices; maintaining a clean vendor master, disbursement errors and visibility, continuous fraud monitoring, recovery audits and more. Also included with this article is a sidebar, "Case Study: Flying Higher," about the success an airline's accounts payable department has had in capturing cash discounts.