Whether you refer to it as master vendor file, vendor master file, or supplier file, it’s all the same. It needs to be cleansed periodically. How frequently you do that cleansing will depend on whether you view the process as a special project or part of your regular accounts payable process. Stick around until the end when we explain which approach is better – and why. #mastervendorfile #vendormasterfile #accountspayable

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 Master Vendor File Playlisthttps://youtube.com/playlist?list=PLtL6rWSXZ-HeZHaYupptiu7ZBqniRaj2J

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Host: Mary Schaeffer (www.ap-now.com)