Accounts Payable: A Guide to Running an Efficient Department, Second Edition -- CONTENTS -- PREFACE -- ACKNOWLEDGMENTS -- PART ONE: PROCESSING -- CHAPTER 1: INVOICE HANDLING -- 1.1 INTRODUCTION -- 1.2 THE INVOICE -- 1.3 PURCHASE ORDERS -- 1.4 RECEIVING DOCUMENTS -- 1.5 PROPER INVOICE HANDLING -- 1.6 WHEN ACCOUNTS PAYABLE RECEIVES INVOICES LAST -- 1.7 ENTRY BY MONTH-END -- 1.8 TIMELY APPROVALS -- 1.9 UNIDENTIFIED INVOICES SENT TO ACCOUNTS PAYABLE -- 1.10 USE BEST OF TERMS -- 1.11 STRATEGIES TO USE WHEN SHORT-PAYING INVOICES -- 1.12 GOODS IMPROPERLY ORDERED OUTSIDE PURCHASING -- 1.13 NONPURCHASE ORDER BUYING -- 1.14 ENCOURAGING OTHERS TO FOLLOW ACCOUNTS PAYABLE'S GUIDELINES -- 1.15 INVOICES WITHOUT INVOICE NUMBERS -- 1.16 INVOICE AMNESTY DAY -- 1.17 KEEPING DIFFICULT INVOICES FROM DISAPPEARING -- 1.18 USING VENDOR STATEMENTS: THEORY -- 1.19 USING STATEMENTS: REALITY -- 1.20 FILING: BATCH VERSUS ALPHA FILING -- 1.21 REDUCING THE NUMBER OF INVOICES -- 1.22 HANDLING BILLS WITH REMITTANCE ADVICES -- CHAPTER 2: ALTERNATIVES TO THE THREE-WAY MATCH -- 2.1 INTRODUCTION -- 2.2 ASSUMED RECEIPT -- 2.3 EVALUATED RECEIPT SETTLEMENT -- CHAPTER 3: CHECK PREPARATION PRINTING AND FILING -- 3.1 INTRODUCTION -- 3.2 A MORE COMMON APPROACH -- 3.3 MANUAL SIGNATURES -- 3.4 AUTHORIZED SIGNERS -- 3.5 PROPER CHECK-SIGNING PROCEDURES AND CONTROL -- 3.6 LIMITING TIME SPENT GETTING CHECKS SIGNED -- 3.7 MAILING VERSUS PICKING UP CHECKS -- 3.8 CHECK FILING -- 3.9 TIME-SAVING TECHNIQUES IN THE CHECK PRODUCTION CYCLE -- 3.10 CANCELED CHECKS AND IRATE VENDORS -- CHAPTER 4: AUTOMATED CLEARINGHOUSE AND DIRECT DEPOSIT -- 4.1 INTRODUCTION -- 4.2 DIRECT DEPOSIT -- 4.3 OTHER COMMON EXAMPLES -- 4.4 COMBINING ELECTRONIC BILLING AND PAYMENTS -- 4.5 TERMINOLOGY -- 4.6 CHECK TRUNCATION AND CHECK CONVERSION -- 4.7 WHAT COMPANIES ARE DOING TODAY.

4.8 CASE STUDY: HOW ONE COMPANY GETS SUPPLIERS TO ACCEPT ACH PAYMENTS -- 4.9 THE FUTURE -- CHAPTER 5: MAKING INTERNATIONAL PAYMENTS -- 5.1 INTRODUCTION -- 5.2 FOREIGN EXCHANGE -- 5.3 BANK ACCOUNT ISSUES -- 5.4 PAYMENT MECHANISMS -- 5.5 INTERNATIONAL PAYMENT SERVICE -- 5.6 BENEFITS OF INTERNATIONAL PAYMENT SERVICES -- 5.7 PAYMENTS TO NAFTA PARTNERS -- PART TWO: CONTROLS -- CHAPTER 6: EXCEPTION AND RUSH PROCESSING -- 6.1 INTRODUCTION -- 6.2 DEALING WITH THE ISSUE -- 6.3 HARD-LINE APPROACH -- 6.4 IDENTIFY RUSH-CHECK TROUBLEMAKERS -- 6.5 MODIFY SYSTEMS AND PROCEDURES TO REDUCE THE NEED FOR RUSH CHECKS -- 6.6 PUBLISH A NEWSLETTER -- CHAPTER 7: ERRORS AND DUPLICATE PAYMENTS -- 7.1 INTRODUCTION -- 7.2 STATISTICS -- 7.3 TYPES OF ERRONEOUS PAYMENTS -- 7.4 LOW-TECH SOLUTIONS -- 7.5 HIGH-TECH SOLUTIONS -- 7.6 EMPLOYEES: YOUR MOST IMPORTANT RESOURCE -- 7.7 TOLERANCE LEVELS -- 7.8 HANDLING DISCREPANCIES -- 7.9 ACCURACY AND TIMELINESS -- 7.10 TIMING ISSUES -- 7.11 ELIMINATING DUPLICATE PAYMENTS WITHOUT AN AUDITOR -- 7.12 DUPLICATE PAY AUDITS: THE FUTURE OF ACCOUNTS PAYABLE AND AP AUDITS -- CHAPTER 8: PAYING WHEN THE ORIGINAL INVOICE IS NOT AVAILABLE -- 8.1 INTRODUCTION -- 8.2 WHO PAYS FROM COPIES -- 8.3 CONTROLS WHEN USING COPIES -- 8.4 COMMON TECHNIQUES TO ENSURE A SECOND PAYMENT WILL NOT BE MADE -- 8.5 CONTROLS WHEN PAYING FROM COPIES -- CHAPTER 9: MASTER VENDOR FILES -- 9.1 INTRODUCTION -- 9.2 THE DATA -- 9.3 CLEANUP POLICIES -- 9.4 WHEN TO SET UP A NEW FILE -- 9.5 MAINTENANCE POLICIES -- 9.6 GOOD MASTER VENDOR POLICIES -- 9.7 ESTABLISHING VENDOR NAMING CONVENTIONS -- 9.8 TIPS ON SETTING UP THE MASTER VENDOR FILE -- 9.9 NEW VENDOR SETUP -- 9.10 ADJUSTMENTS, CORRECTIONS, AND ADDITIONS -- 9.11 MAINTAINING THE MASTER VENDOR FILE -- PART THREE: CASH MANAGEMENT -- CHAPTER 10: TERMS AND TAKING DISCOUNTS -- 10.1 INTRODUCTION -- 10.2 SHOULD THE DISCOUNT BE TAKEN?.

10.3 AN ONGOING PROCESS -- 10.4 POSSIBLE PROBLEMS WHEN PAYING LATE -- 10.5 ARE ALL POSSIBLE DISCOUNTS BEING TAKEN? -- 10.6 SHOULD YOU? -- CHAPTER 11: CASH MANAGEMENT -- 11.1 INTRODUCTION -- 11.2 WHY DISCUSS CASH MANAGEMENT IN ACCOUNTS PAYABLE? -- 11.3 PAYMENT TIMING -- 11.4 MAXIMIZE FLOAT -- 11.5 PURCHASING CARDS -- 11.6 BANK FEES -- 11.7 ACH BACKGROUND -- 11.8 ACH: TYPES OF CORPORATE PAYMENTS -- 11.9 CLEAN-DESK SYNDROME -- 11.10 GAMES COMPANIES PLAY -- CHAPTER 12: PETTY CASH -- 12.1 INTRODUCTION -- 12.2 PETTY CASH NO-NOS -- 12.3 RECOMMENDED PROCEDURES -- 12.4 OTHER RECOMMENDED PROCEDURES -- CHAPTER 13: PAYMENT TIMING -- 13.1 INTRODUCTION -- 13.2 CAN ANOTHER DAY BE SQUEEZED OUT OF PAYABLES? -- 13.3 TIMING PAYMENTS IN DIFFICULT TIMES -- 13.4 STRETCHING VENDOR PAYMENTS -- 13.5 PLACE SMALLER ORDERS -- 13.6 TALK TO VENDORS -- 13.7 A FORMALIZED APPROACH -- CHAPTER 14: AUDITS AND THE OUTSIDE ACCOUNTANT'S MANAGEMENT LETTER -- 14.1 INTRODUCTION -- 14.2 MOST NOTABLE PAYABLES ISSUES -- 14.3 USING THIS INFORMATION -- 14.4 SARBANES-OXLEY EFFECT -- PART FOUR: TRAVEL AND ENTERTAINMENT -- CHAPTER 15: HANDLING TRAVEL AND ENTERTAINMENT REPORTS -- 15.1 INTRODUCTION -- 15.2 THE PROBLEM -- 15.3 SOLUTIONS -- 15.4 HOW MUCH CHECKING IS ENOUGH? -- 15.5 T& E MANUAL -- 15.6 POLICY AND PROCEDURES CHANGES -- 15.7 WHAT ABOUT ELECTRONIC RECEIPTS? -- 15.8 FASTER EMPLOYEE REIMBURSEMENTS -- 15.9 E-TICKETS -- CHAPTER 16: HANDLING ELECTRONIC T& E REPORTS -- 16.1 INTRODUCTION -- 16.2 ADVANTAGES -- 16.3 HOMEGROWN SYSTEMS -- 16.4 THIRD-PARTY ELECTRONIC SOFTWARE -- 16.5 E-TICKETS -- CHAPTER 17: AUTOMATING THE T& E REPORT PROCESS -- 17.1 INTRODUCTION -- 17.2 MAKING THE MOST OF DIRECT DEPOSIT -- 17.3 SPREADSHEET APPROACH -- 17.4 ONE-CARD INTRANET-BASED SOLUTION -- 17.5 IN-HOUSE VERSUS THIRD PARTY -- CHAPTER 18: VALUE-ADDED TAX REFUNDS -- 18.1 INTRODUCTION -- 18.2 WHAT IS VAT?.

18.3 ASSISTANCE AVAILABLE -- 18.4 VAT RECLAIM COMPANIES -- 18.5 TIME LIMITATIONS: DEADLINES -- 18.6 FOCUS ON VAT-FRIENDLY COUNTRIES -- 18.7 FOCUS ON VAT-VALUABLE EXPENSES -- PART FIVE: TECHNOLOGY -- CHAPTER 19: ELECTRONIC DATA INTERCHANGE -- 19.1 INTRODUCTION -- 19.2 WHAT IS EDI? -- 19.3 TECHNICAL BASICS: INTRODUCTION -- 19.4 WHY EDI? -- 19.5 GETTING STARTED -- 19.6 BUSINESS INFRASTRUCTURE REQUIREMENTS -- 19.7 MANAGING ACCOUNTS PAYABLE EDI -- 19.8 ACCOUNTS PAYABLE EDI OPPORTUNITIES -- 19.9 ACCOUNTS PAYABLE EDI SUCCESS FACTORS -- 19.10 SYSTEMS REQUIREMENTS -- 19.11 TRADING PARTNER DIRECTORY -- 19.12 EDI STANDARDS -- 19.13 EFFECT ON SUPPLIER PARTNERSHIPS -- 19.14 CONVINCING MANAGEMENT -- 19.15 FEDI APPLICATIONS -- 19.16 COST-JUSTIFYING FEDI -- 19.17 GETTING UP THE EDI LEARNING CURVE -- 19.18 INTERNET EDI -- 19.19 WEB EDI: AN IDEA WHOSE TIME HAS COME -- 19.20 SECURITY AND STANDARDS ISSUES -- 19.21 WHY THE INTERNET? -- 19.22 SPECIAL APPLICATION: ACH DEBITS FOR TAX PAYMENTS -- CHAPTER 20: IMAGING -- 20.1 INTRODUCTION -- 20.2 POOR MAN'S IMAGING -- 20.3 PLANNING FOR FULL-SCALE IMAGING -- 20.4 USING FULL-SCALE IMAGING WITH E-MAIL -- 20.5 IMAGING ON A SMALLER SCALE -- 20.6 OVERVIEW -- 20.7 IMAGING IN PRACTICE: GROWING PAINS -- 20.8 LEGAL ACCEPTANCE -- 20.9 DISASTER RECOVERY -- 20.10 FREQUENTLY ASKED QUESTIONS ABOUT IMAGING -- 20.11 PREPARING DOCUMENTS FOR IMAGING -- CHAPTER 21: THE INTERNET, E-MAIL, AND E-INVOICING -- 21.1 INTRODUCTION -- 21.2 E-MAIL -- 21.3 THE INTERNET -- 21.4 CASE STUDY: AN ACCOUNTS PAYABLE DEPARTMENT WEB SITE -- 21.5 WHAT TO INCLUDE ON AN ACCOUNTS PAYABLE WEB PAGE -- 21.6 ELECTRONIC INVOICING -- 21.7 EVERYDAY AP USES FOR THE INTERNET -- 21.8 CASE STUDY: PUTTING THE WEB TO WORK FOR ACCOUNTS PAYABLE -- CHAPTER 22: ENCRYPTION AND DIGITAL SIGNATURES -- 22.1 INTRODUCTION -- 22.2 BASICS -- 22.3 CASE STUDY -- CHAPTER 23: E-MARKETPLACES AND XML.

23.1 INTRODUCTION -- 23.2 E-MARKETPLACES -- 23.3 XML -- 23.4 HOW ACCOUNTS PAYABLE PROFESSIONALS CAN PREPARE THEMSELVES -- 23.5 HOW TO PARTICIPATE IN THE E-COMMERCE REVOLUTION -- PART SIX: SPECIALTY TOPICS -- CHAPTER 24: PURCHASING CARDS -- 24.1 INTRODUCTION -- 24.2 WHAT IS A PURCHASING CARD? -- 24.3 HOW A PURCHASING CARD DIFFERS FROM A CONSUMER OR CORPORATE CARD -- 24.4 WHY USE A PURCHASING CARD? -- 24.5 HOW DOES THE PURCHASING CARD WORK WITHIN THE COMPANY? -- 24.6 PLAN ADMINISTRATOR -- 24.7 USER FEEDBACK -- 24.8 VENDOR FEEDBACK -- 24.9 CONTROL FEATURES -- 24.10 MAXIMIZING COST SAVINGS -- 24.11 CONSIDERING A PROGRAM -- CHAPTER 25: POST AUDIT FIRMS -- 25.1 INTRODUCTION -- 25.2 WHY ARE ACCOUNTS PAYABLE AUDIT FIRMS NECESSARY? -- 25.3 HOW POST AUDIT FIRMS WORK -- 25.4 ACCOUNTS PAYABLE BENEFITS -- 25.5 COSTS -- 25.6 GETTING MONEY BACK -- 25.7 SELECTING THE BEST PROFIT RECOVERY FIRM -- 25.8 OTHER CONSIDERATIONS -- 25.9 REACTION TO PROFIT RECOVERY FIRMS -- 25.10 SELF-AUDITING -- 25.11 SELF-AUDITING FOR DUPLICATE PAYMENTS -- 25.12 CURRENT STATE OF DUPLICATE PAYMENT AUDIT INDUSTRY -- CHAPTER 26: BENCHMARKING -- 26.1 INTRODUCTION -- 26.2 WHAT IS BENCHMARKING? -- 26.3 SOURCES OF BENCHMARKING DATA -- 26.4 BENCHMARKING APPLICATIONS -- 26.5 CASE STUDY: HOW TO START OR IMPROVE A BENCHMARKING PROGRAM -- PART SEVEN: REGULATORY ISSUES -- CHAPTER 27: FORM 1099 AND FORM 1042-S -- 27.1 INTRODUCTION -- 27.2 BACKGROUND -- 27.3 BEST 1099 PRACTICE -- 27.4 WHAT IF THE 1099 IS NOT FILED? -- 27.5 WHO SHOULD RECEIVE A 1099? -- 27.6 LETTERS INSTEAD OF W-9S -- 27.7 B-NOTICES -- 27.8 TYPES OF PAYMENTS REFLECTED ON 1099S -- 27.9 MORE HELP FROM THE IRS -- 27.10 IT'S 1099 TIME: CHANGES IMPLEMENTED IN 2002 -- 27.11 1042-S -- CHAPTER 28: SALES AND USE TAX -- 28.1 INTRODUCTION -- 28.2 DEFINING SALES AND USE TAX -- 28.3 EDUCATION -- 28.4 POLICIES AND PROCEDURES.

28.5 SALES AND USE TAX AUDITS.