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- Overlooked AP Internal ControlsAre your accounts payable internal controls protecting you from unseen dangers, or are they leaving you exposed to financial disasters? Discover the hidden vulnerabilities in accounts payable internal controls that could expose your organization to risks and potential losses. From errors and duplicate payments to fraud, these often-ignored areas create a breeding ground for financial disaster. Join Mary Schaeffer, founder of AP Now, as she sheds light on three common control mistakes and unveils a shocking revelation that undermines the foundation of separation of duties. Don't miss out on crucial insights that could reshape your understanding of accounts payable controls. Watch now and protect your financial health. #accountspayable #internalcontrols #apinternalcontrolMany organizations believe their accounts payable internal controls are strong not realizing that there are a number of overlooked areas where controls are weak. Of course, this opens the door to mistakes, duplicate payments and fraud. We look at three such areas that are frequently ignored. Make sure you stick around until the end when we examine one mistake – and that’s exactly what these are – that goes on in numerous organizations exposing them to a complete lack of separation of duties and hence a potentially devasting fraud.The Weakest Link: Where AP Separation of Duties Fall Apart https://youtu.be/xR8gx4KrIbUHow Employees Steal https://youtu.be/yL_D7QlOLEIVendor Credits: Why They May be Disappearing and How to Stop IT https://youtu.be/Kog6wm8lr_kLooking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function+ Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement+And much more!!Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFAB5 min
- P Card Fraud How to Prevent ItDiscover Shocking P-Card Fraud Cases: Learn How Executives, Employees, and Managers Exploit Company Credit Cards. Join Lynn Larson, Commercial Card Industry Expert, as she unveils real-life fraud examples and reveals prevention strategies. Don't miss out on the eye-opening story shared by Lynn at the end - it's likely happened in your organization too. Watch now for insights into the 11 types of commercial cards in use. #p-cards #accountspayable #paymentsOf course, she’ll also educate us on how the fraud could have been prevented or detected sooner. If you think that your employees would never play games with their company credit cards, the numbers tell a very different story. Make sure to stick around until the end when Lynn shares one example that has occurred at almost every organization, including most likely, yours.Link to P-cards: A Guide to the Many Different Types for Accounting https://youtu.be/U0w6h5eu_o8Looking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function+ Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement+And much more!!Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFABLearn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9VLearn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVbyOther ++++++++++++++++++++++++++++++++++Website: https://www.ap-now.com/Linkedin AP Now: https://www.linkedin.com/company/ap-now/Twitter: https://twitter.com/AccountspayableMore about Mary Schaeffer:https://www.linkedin.com/in/accountspayableFacebook: https://www.facebook.com/AccPayNow24 min
- Accounts Payable and Its Surprising ComplexityThe hard working accounts payable teams at many organizations are really doing a lot more complex work than their bosses realize. They need to not only know best practices, they have to stay up-to-date on a wide array of regulatory issues, change processes to protect against an ever-growing number of frauds, and diplomatically deal with a number of different employees and suppliers who don’t abide by company policies. #accountspayable #accountspayableprocess #accountspayablebestpracticesI really wanted to call this broadcast, Understanding Why Accounts Payable Is Much Harder and More Complex than Most Finance and Accounting Executives Realize. But clearly, that was far too long even though it sums the many over-looked intricacies that go into running a best practice accounts payable operation. Stick around until the end when I share the one practice that goes on in many organizations – that in and of itself is not bad – as long as management teams realize what they are doing and don’t paint AP as the guilty party. Sadly, the blame game goes on unfairly in far too many organizations. Another title for this session might have been what every controller needs to understand about accounts payable or perhaps what every CFO needs to know about accounts payable.5 Ways AP Has More Work Despite automation Link: https://youtu.be/6Rs2eYHcKLgWorking in AP Playlist https://youtube.com/playlist?list=PLtL6rWSXZ-HeNwCTRm4jZIlGKzi8VOwi_Learn more about AP Now’s 1099 e-Workshop https://www.ap-now.com/products/1099-eWorkshop.cfmLearn more about AP Now’s 1099 webinars (and all one-hour webinars) https://www.ap-now.com/products/Upcoming-Accounts-Payable-Webinar.cfmLooking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function+ Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement+And much more!! Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFABLearn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9VLearn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVbyOther++++++++++++++++++++++++++++++++++Website: https://www.ap-now.com/Linkedin AP Now: https://www.linkedin.com/company/ap-now/Twitter: https://twitter.com/AccountspayableMore about Mary Schaeffer: https://www.linkedin.com/in/accountspayableFacebook: https://www.facebook.com/AccPayNow19 min
- Accounts Payable Interview Questions and Answers for ExperiencedIt goes without saying that interviews are stressful, even for the most experienced professional. That’s why, we’ve collected a handful of questions likely to be asked on an interview for an accounts payable position and crafted answers. These are related to the accounting/basic process part of the interview. If you have answers to likely questions planned ahead of time, some of the anxiety associated with these encounters can be eliminated. This ultimate guide to accounts payable interview questions and answers will help prepare you to nail that interview for your dream job. #accountspayable #Accountspayableinterviewquestions #accountspayablejobinterviewWhether you are looking for the most common accounting interview questions or the most common accounts payable interview questions, you want to get a Yes when you ask Hire Me? So be prepared to answer these entry level accounting interview questions. You might also be asked supervisor interview questions so be prepared with answers. Likewise, you might be asked entry-level accounting interview questionsThis is part of a series of broadcasts on answering interview questions. BTW, for each we’ve got additional short videos for you to listen to, if you want to be thoroughly prepared on topics you may not be that comfortable with. We’ll put them in a playlist called Preparing for Your AP Job Interview, in case you want to watch them all. Make sure you stick around until the end when we address the one question, that seems to throw many – even though it really shouldn’t.Preparing for Your AP Job Interview PlaylistLink: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcTqTnJnnUXwLCqs8XNIO6fWhat is Accounts Payable?Link: https://www.youtube.com/shorts/6LOlWllAMG4What is the difference between AP and ARLink: https://youtu.be/6bZQTjtAergChart of Account Best PracticesLink: https://youtu.be/iVQxpHceFIcHow AP Works: Invoice Processing https://youtu.be/a95u7vgANbgMaster Vendor File: Why It Mattershttps://youtu.be/hdhLDLvGn9YResponding to What Is Your Greatest Weakness Interview Questionhttps://youtu.be/VJuzFUE3bzk6 min
- B2B Payment Options: Pros and ConsEvery organization has a handful of tools it can use to make payments. We’ll take a look at four of the more popular options, explaining the advantages and disadvantages associated with it. Most importantly, we’ll suggest alternatives that might be more efficient or more cost effective. Make sure to stick around until the end when we share ways to use the payment alternative that is not only growing in popularity, is most commonly used in other parts of the world. It’s something every payment professional needs to get comfortable with fast. #accountspayable #accountspayableprocess #paymentsLink P-cards: A Guide to the Many Different Types https://youtu.be/U0w6h5eu_o8Link to ACH Payments Explained https://youtu.be/E_mX5GaOR2oLooking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function+ Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement+And much more!!Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFABLearn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9VLearn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVbyOther++++++++++++++++++++++++++++++++++Website: https://www.ap-now.com/Linkedin AP Now: https://www.linkedin.com/company/ap-now/Twitter: https://twitter.com/AccountspayableMore about Mary Schaeffer: https://www.linkedin.com/in/accountspayableFacebook: https://www.facebook.com/AccPayNow3 min
- The Dos and Don’ts of P-card RebatesI am a big fan of having no cash in the expense world, in fact, it’s part of the reason why you should buy everything with credit cards. Not, of course, stuff that should be invoiced, but stuff you might be tempted to pay cash for. Now, I know a lot of folks agree with me on this, but sometimes for a different reason, they are hoping to build the rebate. Recharged Education’s Lynn Larson, who is joining me today, is probably cringing as I am talking about building P-card rebates. Given the controversy around rebates, I thought we might hear from someone who knows a lot about cards. So, I’m going to throw out some statements about them and Lynn has agreed to tell us if they are true or false and why. Make sure you stick around until the end when Lynn enlightens us on one pcard practice you might not have considered. #pcard #corporatecard #pcardrebatesAccounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.Link to Surcharges on Credit Cards 2023 https://youtu.be/yU8VFZyi338Link to AP Now’s Invoice Series https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vhSubscribe now: https://www.youtube.com/APNow?sub_confirmation=1Learn more about AP Now at www.ap-now.comHost: Mary Schaeffer (www.ap-now.com)Guest: Lynn Larson (recharged-education.com)Looking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function+ Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement+And much more!!Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFABLearn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9VLearn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVbyOther++++++++++++++++++++++++++++++++++Website: https://www.ap-now.com/ LinkedinAP Now: https://www.linkedin.com/company/ap-now/Twitter: https://twitter.com/AccountspayableMore about Mary Schaeffer: https://www.linkedin.com/in/accountspayableFacebook: https://www.facebook.com/AccPayNow15 min
- ACH Explained: The Four Types of ACH PaymentsWhat’s an ACH? We’ll delve into the world of ACH, providing an explanation of the four different types of ACH transactions. We’ll include many real-life examples so you can not only understand how ACH works but also see how you can use ACH in your own business operations as well as your personal life. IAre you tired of tedious manual processes and endless paperwork associated with paying with paper checks? Then this is the session for you. Make sure you stick around until the end when we share some surprising ways you can using ACH to make your life (both personal and professional) simpler, while spending less time paying bills. #accountspayable #payments #ACHLink to How to Minimize Rush Paymentshttps://youtu.be/DI-fGZ6vFnoLooking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function+ Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement+And much more!!Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFABLearn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9VLearn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVbyOther++++++++++++++++++++++++++++++++++Website: https://www.ap-now.com/ Linkedin AP Now: https://www.linkedin.com/company/ap-now/Twitter: https://twitter.com/AccountspayableMore about Mary Schaeffer: https://www.linkedin.com/in/accountspayable Facebook: https://www.facebook.com/AccPayNow10 min
- How to Calculate Early Payment DiscountsEarly payment discounts are the holy grail of the finance, accounting and accounts payable world. In this episode we’ll explain exactly how to calculate them. They are so important that one accounts payable manager explained that “the only mortal sin in her boss’s eyes is missing an early payment discount. Stick around until the end when we explain why. #accountspayable #payments #invoices #discountsLink to 5 Ways to Earn More Early Payment Discounts https://youtu.be/8dxvSdlOZ6gLooking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function+ Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement +And much more!!Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFABLearn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9VLearn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVbyOther++++++++++++++++++++++++++++++++++Website: https://www.ap-now.com/Linkedin AP Now: https://www.linkedin.com/company/ap-now/Twitter: https://twitter.com/AccountspayableMore about Mary Schaeffer: https://www.linkedin.com/in/accountspayable Facebook: https://www.facebook.com/AccPayNow3 min
- Three Way Match Documents Reviewed [Mistakes to Avoid]As a savvy accounting and finance professional, you know that the "three-way match" is the Holy Grail of accuracy when it comes to processing invoices for payment. But there are so many little places that errors can slip in – errors that lead to an organization paying more than it should or even worse, paying for something it shouldn’t. These extra or erroneous payments come right off the bottom line, making your organization less profitable, and hence less competitive than it should be. Make sure you stick around until the end when we discuss the common error that many overlook. #accountspayable #accounting #threewaymatchDiscover the key to achieving utmost precision in invoice payment processing— and more importantly, the "three-way match." As you're well aware, meticulousness is paramount in this realm. Even the tiniest slip-ups can result in excessive payments or, worse yet, funding unwarranted expenses. Such blunders directly impact your organization's bottom line, hampering profitability and undermining its competitive edge. Stay tuned until the end, as we unveil a commonly overlooked error that deserves your attention.Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.Link to Stop Duplicate Pays w/o Spending a Red Cent https://youtu.be/dqN1P84faE4Link to AP Now’s Invoice Series https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vhLooking for more of the most current business intelligence about+ Best practices around your payment and accounts payable function + Current and new fraud protection protocols+ The newest technology impacting your accounting, accounts payable, and payment functions+ Career advancement+And much more!!Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1+++++++++++++++++++++++See most recent videos at: https://www.youtube.com/@APNow/videosSee all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFABLearn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9VLearn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVby Other ++++++++++++++++++++++++++++++++++Website: https://www.ap-now.com/LinkedIn AP Now: https://www.linkedin.com/company/ap-now/Twitter: https://twitter.com/AccountspayableMore about Mary Schaeffer: https://www.linkedin.com/in/accountspayableFacebook: https://www.facebook.com/AccPayNow9 min
- Surcharges on Credit Cards 2023In a small but growing number, to the horror of many card advocates, some suppliers are charging a surcharge if their customers want to use a card to pay. This is sometimes referred to as Merchant Surcharge fee or checkout fee. This is happening both in the consumer space and in the B2B world as well. Industry expert Lynn Larson is here today to help sort out fact from fiction in the surcharge space, as well as what you can do and CANNOT do in this regard. Make sure you stick around until the end when Lynn addresses what to do if you think a supplier is charging a surcharge and they shouldn’t be. #surcharges #creditcardsurcharges #pcardsurchargesAccounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.Link to P-cards: An Accountants Guide to The Many Different TypesLink to AP Now’s Invoice Series https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vhSubscribe now: https://www.youtube.com/APNow?sub_confirmation=1Learn more about AP Now at www.ap-now.comHost: Mary Schaeffer (www.ap-now.com)Guest: Lynn Larson (recharged-education.com)14 min
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Discussions about trends, insights and emerging issues impacting the accounts payable and payment functions