Automation is key for all kinds of Finance workflows, including invoice processing. Around 60% of finance leaders said they “absolutely” or “strongly” agree that automation saves them time at month end, according to Sage’s 2022 Close the Books Survey. And…
Accounts Payable
If you're still using paper checks for making vendor payments, be aware: Check theft crime is making a comeback. According to a cybersecurity research group at Georgia State University that monitors dark web activity, crooks can easily steal a business's…
Businesses like yours that expanded into e-commerce markets and digital sales channels have had to be aware of economic nexus ever since the tax compliance landscape changed with the landmark South Dakota v. Wayfair Supreme Court decision. Your Finance team's…
Forward-thinking companies like yours are always looking for ways to optimize A/P and A/R processes to keep your business's cash flow well-balanced. But outside of using automation technology to reduce errors, streamline vendor invoice approvals and process customer payments, what…
Your A/P security best practices probably include a confirmation phone call whenever a vendor emails you that their bank info's changed. But because fraudsters are becoming more skilled at fooling businesses like yours, it's important to take the time to…
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…
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…
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…
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…
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.…
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…
If any of your A/P staffers work a hybrid schedule, email is an 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…
