AP Journal Online - American Accounts Payable Association

Procedures and Fixes for Vendor
File Management

A vendor file must be kept up to date with current and relevant data. It is a difficult undertaking and there is hardly a simple fix once your vendor file has become saturated with outdated information and duplicate records. Maintenance and management is an ongoing process and requires constant attention. Any firm promising immediate vendor-file cleansing should be avoided. more››

Why Achieving True AP Automation Demands ERP Integration

Ever since the first American business opened its doors, the accounts payable, procurement, and accounts receivable departments have been the foundation of modern commerce. Technology has driven productivity, efficiency, and cost-savings through automation. But those benefits comprise only a small portion of AP automation’s value. more››

Protect Employee Morale
Cash-Flow Communication In Hard Times

Consistency is the foundation of success to avoid multiple invoices and vendor name variations when entering invoices into the AP system. We know it can be a challenge. Inconsistency may lead to issues in locating paid invoices, or result in an eventual duplicate payment. It often begins with the invoice number. more››

Prevent Duplicate Payments Within Your AP System

Purchasing Card Strategies in the Payables Process

As an accounts payable professional, you have undoubtedly noticed the rising use of purchasing cards, or p-cards, in the month-end check run (payables process). Many AP departments are replacing checks, and sometimes Automated Clearing House payments, with p-cards to pay suppliers. more››

Best Practices in Purchase-to-Pay Automation

Despite the many benefits organizations can gain from purchase-to-pay automation and tighter cooperation between finance and procurement, many still find themselves stuck in old-world manual paper-handling processes. A recent report commissioned by Basware, “Lost in Transaction,” surveyed 550 AP departments worldwide and found that weaknesses in finance processes are actually resulting in additional costs for businesses. more››

From Submission to Reimbursement: The Business Argument for Outsourcing Expense Management

Expense management has always been a vital component of any business strategy. With the growth in corporate travel, the Accounts Payable and Finance departments have assumed the burden of processing higher and higher volumes of more detailed expense reports. more››

Top AP Honors Go to Parsons and Ruhm

American Accounts Payable Association members Jodi L. Parsons, CPP, and Michael J. Ruhm, CPP, share something in common—a strong dedication to the AAPA.

Parsons and Ruhm were honored with the 2011 Accounts Payable Woman of the Year and the Accounts Payable Man of the Year awards during the AP General Session on May 25 at the 29th APA / AAPA Annual Congress. Parsons and Ruhm each joined AAPA at its founding in 2008, and have been involved members of the American Payroll Association since 2001. more››

Taber Awarded 2011 AP Education Grant

Alba L. Taber, CPP, was awarded the 2011 Accounts Payable Education Grant during the AP General Session May 25 at the 29th APA / AAPA Annual Congress. Alba, an Accounts Payable Associate Manager at the YMCA of Greater Miami, said she planned to focus on attending AP sessions at Congress to advance her technical knowledge. more››

Be a Voice for AP Professionals, Join the SAPLTF

The AAPA Strategic Accounts Payable Leadership Task Force (SAPLTF) is accepting applications for new members.

“Volunteering with a task force is a form of giving back to others within your profession,” said Temple Liebmann, CPP, Corporate Accounting Consultant and Chair of the SAPLTF. “It also helps one grow their AP knowledge as you are working on new developments or articles of interest.” more››

Pitfalls of Purchasing Cards

Homework, it’s not just for kids. For instance, has your organization been thinking about starting a purchasing card (P-card) program? Or perhaps they have already made the decision and are in the process of setting up the program. Wouldn’t it be great to know how other organizations wish they had set up their program, now that they see the error of their ways? Yes, homework is important. more››

The New W-9 and the
Growth of Tax Reporting

In January 2011, the Internal Revenue Service released a new version of Form W-9, Request for Taxpayer Identification Number and Certification, followed in February with the new version of the Instructions for the Requester of Form. What's new
on this W-9? more››

IN THE NEWS

Three Percent Withholding on Government Contractor Payments Repealed

On November 21, 2011, President Obama signed into law the Three Percent Withholding Repeal and Job Creation Act. Title I repeals Section 3402, which would have required information reporting and withholding at the rate of 3% on payments to vendors providing property or services to a government entity with $100 million or more of annual expenditures that were subject to its provisions. More››

Payment Card and Third-Party Network Payments Backup Withholding Requirement Postponed

The IRS has postponed for one year the effective date for potential backup withholding on payments made in settlement of payment card and third-party network transactions (IRC §6050W payments). Specifically, the backup withholding requirements of IRC §3406 will apply only to §6050W payments made after December 31, 2012. More››

PUBLISHED BY
American Accounts Payable Association

MANAGING EDITOR
Frank J. Mendelson

EDITORIAL ADVISORS
Marcia L. Aamodt
Director of HRIS/Payroll Serv.
Apple, Inc.

La Tanya Cherry
Sr. Accountant, A/P
Intelsat

Philip Cavoretto
Director of Disbursement
BJC Health System

Daniel B. Dycus, CPP
Director, Payroll and Accounts Payable
Living Social

Carl A. Imhof
Sr. Tax Accountant
Tyson Foods, Inc.

Donna Michele, CPP
Director,Payroll/Accounts Payable
MVP Health Care

Jodi L. Parsons, CPP
Manager, Payroll and Accounts Payable
Telligen

Karen Salemi, FLMI, CPP
North American Payroll Manager
IBM

Alba L. Taber, CPP
Accounts Payable Associate Manager
YMCA of Greater Miami

Sandy Tomasko, CPP
Accounts Payable/ Payroll Manager
Sacred Heart Hospital

Sarona-Lee Wilde, CPP
Owner
SL Wilde & Associates

Web publishing services provided with assistance from Publishing Resources, Inc.

For these and many more accounts payable, payroll, accounting and finance positions throughout the US, visit
www.americanap.org/
job-board

Accounts Payable Specialist

Clewiston, FL

As an Accounts Specialist you will verify and process invoices and purchase orders for payment and assists in other accounting and financial transactions as necessary. You will perform reconciliations and prepares reports as necessary to enable managers and others to track expenditures against budget and manages costs. Your responsibilities will also include maintaining files and records in an orderly manner, opening and sorting incoming mail, and ensuring that outgoing payments are mailed in a timely manner according to invoice terms.

Controller

Miami Beach, FL

The controller position is accountable for the accounting operations of the company, to include the production of periodic financial reports, maintenance of an adequate system of accounting records, and a comprehensive set of controls and budgets designed to mitigate risk, enhance the accuracy of the company's reported financial results, and ensure that reported results comply with generally accepted accounting principles or international financial reporting standards. more››

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Coming Up...

Form 1042-S: What You Need to Know to Comply with IRS Reporting
Requirements for Payments to Nonresident Aliens
How to Create an Effective TIN Solicitation Program & Avoid All Pitfalls.
Unclaimed Property Basics: A Best Practice Approach
Combined State & Federal Information Reporting