Business travel in 2022 started off slow due to the Omicron variant, but it’s starting to pick up again. And due to the current economy, travel costs are expected to rise – especially as the weather warms and travelers of…
Accounts Payable
The use of digital currency has grown dramatically in recent years, with some businesses already making payments to employees in cryptocurrency. But Finance should use caution. For starters, the Fair Labor Standards Act (FLSA) regs state that wages must be…
New research proves just how critical it is for your company to keep moving toward electronic payments via ACH – and how expensive it is to keep cutting paper checks. Data from the 2022 Payments Benchmarking Survey, released by the…
You know that increasing electronic payments and decreasing paper checks streamlines your company's finance operations in a big way. But what about those vendors your company works with that still don’t accept e-payments? How can you win them over? Electronic…
Expense reports may have decreased for some companies during COVID. But in many cases, expense reimbursement requests are back on the rise. Your A/P team should keep its eyes peeled and expect more mistakes as more employees submit expense reports.…
Even if you’ve automated your A/P operations, manual processes often get in the way. This can waste time, money and energy for companies. A/P automation solutions provider Beanworks surveyed A/P pros on their biggest manual pain points that bogged down…
Late vendor payments can lead to your A/P department fielding a lot of phone calls and emails from a vendor. This can damage your company's relationship with a vendor fast if it persists. Because you want to get things moving…
When it comes to electronic funds transfers, your top two choices are automated clearing house (ACH) and wire transfers. But what’s the difference between them? Answer: A couple of things stand out. For example: With same-day processing, wire transfers are…
Correcting mistakes and preventing misunderstandings from employees concerning your T&E policies is not only time-consuming for your A/P team, but it can hurt the company’s bottom line if expenses are consistently reimbursed incorrectly. With that in mind, it’s important to…
From inventory outages to incorrect orders to missed shipping dates, the era of COVID continues to be full of supply chain issues for businesses like yours. And miscommunication with vendors can make matters worse. To minimize the impact of supply…
If you and your team have noticed issues with your correspondence with the Service lately, you aren’t alone. It’s been tricky to get in touch with IRS this past year, and some changes may be in the works to ease…
Interest rates will remain the same for the first quarter of 2022 as they were in the last quarter of 2021, IRS recently announced. That means, as of Jan. 1, 2022, the rates remain: 2% for corporate overpayments0.5% for the…
