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There are nine essential steps involved in cleaning up a vendor master file. These steps include several actions that should occur at vendor onboarding but…

Criminals are compromising emails to steal money from businesses, governments and institutions. Any organization can be a target: businesses of any size, health care organizations,…

Are You Prepared? Aggressive Cybercriminals Are Sophisticated; Security, IT and Finance Teams Must Be Too People receive more than 120 emails at work per day…

U.S. organizations that issue payments of U.S. source income to U.S. or foreign payees are required to solicit and obtain valid certification of the payee’s TIN, name,…

Do not overlook the risks inherent in bringing in new vendors to your organization. The level of risk varies in degree according to types, amounts and…

Are you required to change your password every quarter? Do you have to include special characters in your passwords? It is annoying but also easy…

If you are mystified by your company’s compliance responsibilities related to sanctions, there is help. In 2019 the Department of Treasury’s Office of Foreign Assets…

How do you collect your vendors’ W-9 information? What about bank information for ACH payments? Here is an instruction that one organization includes on its ACH…

An Association of Financial Professionals (AFP) survey on payment fraud shows 80 percent of organizations experienced attempted or actual payment fraud in 202. Payment fraud…

Managing vendor relationships can be a challenge, especially as organizations make more and more demands on their vendors, such as improved pricing, terms and shipment…

Procure-to-pay—also called purchase-to-pay or source-to-settle—refers to the entire process of procuring goods and services from start to finish. The process begins with identification of need…

Are you a gambler? Do you look forward to a conference in Las Vegas so you can get in a little action? How about when…

Want to save time, work and potential penalties? First, get your vendors’ tax ID numbers (TINs) and tax classifications upfront. Then validate those TINs. Way…

On November 25, 2019, Apple Inc. entered an agreement with the U.S. Department of Treasury to pay a civil penalty of $466,912. The fine is…

Threats to businesses abound, and given that accounts payable issues payments, it is a prime target for criminal perpetrators of all kinds. In addition to…

Are you crafty? Handy? Do it yourself? Many of us like doing things by hand — some things, anyway. But let’s face it, there are other…

You interact with vendors every day. You do it in the context of specific, necessary functions like gathering requisite information, processing invoices, issuing payment, and…

As she crossed the company parking lot early one morning, the director of shared services saw them. Men in black. Two of them. As she…

Teach your Internal Employees how to do business with the Vendor Team, including processes for adding or changing vendors as welll as about important internal…

Accurate Addresses, Duplicate Vendor Prevention Are your vendor addresses lacking standardization causing returned checks, vendor communication problems, and worse – duplicate vendors? Here is a way…

Most companies have vendors to whom a payment will be made only once. When these payments flow through the Accounting System or ERP, Accounts Payable…

Learn best practices to obtain accurate or missing data from your vendors to prevent fraud, returned payments and duplicate vendors. How to follow-up with your…

You know W-8s expire, right? Here’s help tracking your foreign vendors’ W-8x forms’ expiration dates so you know when to collect updated forms and remain…

The IRS allows a substitute W-9 form and you can make onboarding easier for a vendor by combining your vendor setup form and IRS Form…

The IRS also allows a substitute W-8BEN and W-8BEN-E form. You can make vendor onboarding easier for a foreign vendor (and ensure accurate completion of…

If you run a business in the United States, you are familiar with the IRS Form W-9. Organizations use this form to collect a vendor’s…

Fraud Prevention You receive a request to change remittance information from the vendor. Is that really the vendor? Combat business email compromise, deepfakes, and other…

Beyond enabling transactions and meeting compliance requirements, vendor information plays another important role. Together with ERP transactional and p-card data, vendor information supports spend analysis. …

Criminals are using common technologies to commit fraud, employing social engineering to fool AP staff into paying them. Fraudsters employ phishing, vishing, smishing and more…

If ever there was a time you want good relations with vendors, it’s when times are tough. For example, the impact of the pandemic on…

Instructions Below is a sample IRS 972CG Penalty Notice Abatement Letter, in this case involving an acquisition of a non-compliant company. It is merely intended…

IRS LINK IRS Forms & Instructions https://www.irs.gov/pub/irs-pdf/iw9.pdf Instructions for Form W-9 https://www.irs.gov/pub/irs-pdf/fw9.pdf Form W-9 https://www.irs.gov/pub/irs-pdf/iw9sp.pdf Instructions for Form W-9 – SPANISH https://www.irs.gov/pub/irs-pdf/fw9sp.pdf Form W-9 https://www.irs.gov/pub/irs-pdf/iw8.pdf…

Have you ever received an invoice from a vendor you’ve never heard of?  Of course you have! You check the master file, but it’s not there….

Along with verifying that a vendor can provide the product or services needed at the appropriate specifications and requirement, an organization must also ensure that…

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