Read e-book online Accounts payable : a guide to running an efficient PDF

By Mary S Schaeffer

ISBN-10: 047168404X

ISBN-13: 9780471684046

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21 REDUCING THE NUMBER OF INVOICES As anyone even remotely involved with the accounts payable function can tell you, payables departments are being inundated with an increasing amount of work. Companies acquire other companies, or simply expand, and the workload grows. Yet in many cases, the accounts payable department is expected to handle additional responsibilities with no extra staff. In fact, at some companies they are expected to handle the increased workload with a smaller staff. In the doing-more-with-less environment permeating most of corporate America today, accounts payable professionals are adopting a variety of techniques to reduce the number of invoices coming into their departments.

These are two reasons why getting a completely filled-out purchase order is so important. Always pay according to the purchase order, unless the terms on the invoice are better. Then use the terms on the invoice and inform purchasing so they can use this information the next time they order. Using this approach will result in the best of both worlds for the company. 12 Ch. 11 STRATEGIES TO USE WHEN SHORT-PAYING INVOICES Accounts payable managers often pay an invoice for less than the amount on the original invoice.

They want an invoice that can be used for the (a) SUMMARY STATEMENTS. 21 Reducing the Number of Invoices 19 three-way match. In fact, some wish they could eliminate statements because occasionally they are used, in error, in place of an invoice, resulting in a duplicate payment. However, there are circumstances when paying from a statement makes a lot of sense. If you do a good deal of business with a given supplier and most of the transactions are small-dollar amounts, you might consider ignoring invoices with that particular vendor.

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Accounts payable : a guide to running an efficient department by Mary S Schaeffer

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