Fall is an important season for unclaimed property reporting. And it’s something Finance needs to start thinking about as summer ends. Many states have unclaimed property reporting deadlines in October and November each year. And compliance is crucial, since issues with reports can lead to pricey fines and time-consuming audits. That means it’s key for […]
Summer’s winding down. And while it’s not time for Halloween just yet, your A/P pros should still be on the lookout for ghost vendors. Ghost vendors are illegitimate vendors that are entered into your A/P system for fraudulent purposes, typically to embezzle money from your company. Unfortunately, this is one of the most common ways […]
IRS has announced that interest rates will rise for the fourth quarter of 2022 – a decision that should come as no surprise based on the current state of the economy. Per the agency, the rates will increase for both corporate and individual overpayments and underpayments for the calendar quarter beginning Oct. 1, 2022. New, […]
P-cards are a cost-effective and streamlined method for making payments. But if you don’t set adequate rules for procurement staffers, they open the door to misuse, waste and fraud. IRS learned that the hard way. Back in 2013, a Treasury Inspector General for Tax Administration (TIGTA) audit revealed IRS cards were being used to purchase […]
As COVID restrictions continue to ease, business travel is increasing. Unfortunately, it’s also being impacted by the current economic climate – and you should expect prices to keep rising for the remainder of the year and the beginning of 2023. That’s according to the 2023 Global Business Travel Forecast from CWT and the Global Business […]
All-in-one payment solutions can revolutionize A/P and A/R departments. But many of your peers are still wary of these time-saving solutions, especially smaller B2B firms you may work with on a regular basis. The benefits outweigh the drawbacks in many ways, as recent research shows. Over 70% of executives say that their small and mid-sized […]
If any of your A/P staffers work a hybrid schedule, email is a crucial important tool for invoice processing. Your payables department may also be relying a lot more on e-mail to onboard vendors and approve supplier payments. But relying on email for invoice processing and receiving may present some challenges with: Invoice receipt and […]
Many of the vendors you work with may be among the more than 2,300 U.S. businesses that accept the cryptocurrency bitcoin, according to a report from Deloitte. There may be even more businesses exploring cryptocurrency right now because, unlike cash, it’s not subject to devaluation from inflation. For A/P transactions, virtual currencies and blockchain technology […]
A workcation – also known as “bleisure” travel – is when employees extend their business trip plans to enjoy sightseeing and other recreational activities. Allowing it is a good way to boost morale and encourage more employees to hit the road on company business, according to Dr. Jim Castagnera. In fact, 43% of business trips […]
