Accounts Payable Best Practices: How to Avoid Common Errors in AP Operations
EVENT DATE:
Feb 09,2023
PRESENTER(s): Mary Schaeffe
1:00 PM ET | 12:00 PM CT | 10:00 AM PT |
60 Minutes
The truth is that companies ignore accounts payable best practices at their peril and the impact is felt on your bottom line. It's that simple—yet some organizations continue to turn a blind eye to the leakage that occurs due to poor or inefficient process in their AP operations. Don't be one of them!
Unfortunately, what worked yesterday may not work today. Best practices for the accounts payable function are critical for those organizations concerned about their bottom line. Poor practices result in excess cost, duplicate payments, increased processing expenses, and frayed vendor relationships.
Learning Objectives:
- Improve your invoice processing;
- Implement effective payment technologies;
- Comply with regulatory issues affecting the payment process;
- Avoid costly mistakes due to spoofed emails
- Create effective expense reporting policies;
- Travel and entertainment
- Vendors and vendor file issues
- Staffing
- Deter fraud (both internal and external)
- Describe a best p-card practice
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- CPA
- Enrolled Agents (EAs)
- Tax Professionals
- Attorneys
- Other Tax Preparers
- Finance professionals
- Financial planners
Speaker Profile:
Mary Schaeffer, AP Now’s Founder, has been creating content around the AP function for 20+ years. This material takes the form of a twice-a-week free ezine, a weekly podcast, the AP Now YouTube channel with 300+ videos, a monthly newsletter, a variety of courses for accountants, and numerous webinars.
She served on the Business Payments Coalition and Federal Reserve’s Remittance Delivery Assessment Work Group, and is currently a member of Nacha’s ACH Network Advisory Panel. Schaeffer has been named a Top AP Influencer for the last three years by the prestigious AP Association, a global organization headquartered in the UK. She also received the Well-Being for Others award from them in 2021 and was named Top AP Influencer in 2022.
She has a BS in Mathematics and an MBA in Finance. Before founding AP Now, she worked in corporate finance and treasury for Continental Grain (Cash Manager) Equitable Life, now AXA (Assistant Treasurer) and O&Y (Financial Risk Manager).
