Vendor credits disappear at an alarming rate. Vendor credits represent real money that is owed your organization, money that can be added right to the bottom line. Yet, this doesn’t always happen. In this piece we take a look at what vendor credits are, how they are created, and some slimy practices some suppliers will use to try and hold onto your vendor credits. Stick around until the end when we discuss how, even when dealing with the most honorable of suppliers, your vendor credits may disappear, that is go up in smoke and We’ll show you how to avoid this. #accountspayable #credits #vendorcredits

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.

Vendor credits generally are overpayments and are funds owed your company, money that will increase your profitability. In this piece we take a look at what vendor credits are, how they are created, and some slimy practices some suppliers will use to try and hold onto your vendor credits.

Link to Common Practices that Guarantee Duplicate Paymentshttps://youtu.be/Ye8sqzmP7KE

Link to Duplicate Payment Avoidance Playlisthttps://www.youtube.com/playlist?list=PLtL6rWSXZ-Hfm-G5d8-CpBsC3xi-nQTn2

Link to AP Now’s Invoice Serieshttps://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

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