This is part of a series on accounts payable best practices. It includes short tips, short accounts payable best practice tips, to help viewers improve their accounts payable or procure-to-pay process, as well as longer broadcasts focusing on niche accounts payable topics. One short AP best practice tip will be released every day, except for Tuesday and Thursday when our longer broadcasts are released. The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across ..read more

When was the last time you audited your accounts payable process to ensure you were using best practices for accounts payable AND had incorporated the processes as they are actually being done? In this broadcast we discuss why it is so important you do this and then give you 10 questions that will help you structure your process review. Make sure you stick around until the end when we provide some insights on where to start an accounts payable process audit. This is part of a series on accounts payable best practices. It includes short tips, short accounts payable best practice tips, to help v ..read more

What do you think are the top three crucial metrics you need to know to maximize AP performance? Best Practices for Accounts Payable Management includes 3 Must-Know Metrics that are key for maximizing accounts payable performance. While there are literally hundreds of metrics you can measure around the accounts payable process, we’ve got three basic ones to get you started. Although, to be honest, each of the primary metrics has several additional KPIs that you might also want to calculate in order to run a best practice accounts payable operation. Stick around until the end when we show how t ..read more

As news of the failure of Silicon Valley Bank ratcheted across news outlets, its impact being widely discussed by finance thought leaders everywhere. If you think, because you don’t work for a tech startup, this has nothing to do with you or your organization, think again. This should be a wakeup call for every accounting, finance, treasury and accounts payable professional everywhere. It could happen to you. Let’s take a look at the implications for every organization out there. We’ve got some really simple tips, changes every organization can make to protect themselves, and they don’t take a ..read more

Can you recognize every fraud attempt that may be targeting you? Some are really good. This fraud alert contains 13 signs anyone (including you) can use to recognize if someone is trying to scam or defraud them. While these tactics are focused on those responsible for accounts payable, accounting and finance, most are also applicable to individuals in their personal lives and transactions. If you want to stay safe and learn how to recognize AND fight off the scammers, stick around until the end when we also share 5 really simple tactics to protect your company’s money, as well as your own. Whe ..read more

P-card control audits or what some refer to as a p-card process audit, p-card performance audit or p-card compliance audit are something our guest, p-card expert Lynn Larson is well familiar with. We were chatting recently and she mentioned that she, through her company Recharged Education, had just finished a p-card control audit for a larger mid-sized company and some of things she found absolutely astounded her. Make sure you stick around until the end when she shares some of these findings – control weaknesses that you could very well have in your operation and not even realize it. This is ..read more

We talk a lot about duplicate payments and not so much about duplicate invoices. This is unfortunate as one of the unsavory outcomes of receiving more than one copy of an invoice is a duplicate payment. Best practices for accounts payable management should now include this issue. Stick around until the end when we talk about one questionable invoice practice more than a few suppliers are using to trick you into making a duplicate payment. Once you know what it is, you’ll be able to protect against it. This is part of a series on accounts payable best practices. It includes short tips, short ac ..read more

Curious about what makes a practice the "best" in the world of accounting and finance? What is a best practice, what makes something a best practice and do best practices change over time are frequent questions asked by accounts payable, accounting, finance and treasury professionals all the time. Let’s diving into this topic in a little more depth. Stick around until the end when we discuss why best practices change and what should NOT be the driving force behind adopting a practice – best practice or not! #accountspayable #bestpractices #accountspayablebestpractices Take a deep dive into the ..read more

If you are trying to learn how you can use ChatGPT, we’ve got some ideas for you on how it can help you be more productive. The emphasis here is on help you. Despite what you may have heard or read, don’t think it is going to completely eliminate your job or those tasks that you despise. But it definitely can help you become more productive. Make sure you stick around until the end when I share one startling example, which sounded right at first glance, but was 100% wrong. If you are looking to have a good laugh at my expense, well then, you’ll love this story.     ChatGPT Playlist ..read more

The Weakest Link: Where AP Separation of Duties Fall Apart focuses on those accounts payable internal controls that are frequently broken, areas where, for the most part organizations don’t realize they are ignoring the controls that protect their organization against fraud, duplicate payments and inefficiencies. Often companies allow these practices without even considering how they might facilitate fraud. Separation of duties is sometimes called segregation of duties. Make sure to stick around until the end when we discuss one issue that is allowed at most organizations and can cost them big ..read more