Payment

Payments During the COVID Crisis

These comments were compiled from an online discussion conducted by IOFM with the Advisory Panel on April 8, 2020. Lynn Tate, APM, Accounts Payable and Expense Report Analyst, Urban Science… Read More

Invoice Receipt and Processing During the COVID Crisis

Defining Dynamic Discounting

Dynamic discounting describes an arrangement between a buyer and supplier whereby payment for goods or services is made early in return for a reduced price or discount. The arrangement includes the… Read More

The Keys to Capturing Discounts

Are You Missing Out on Millions?

Early payment discounts can mean big savings for your organization. A standard "2 percent 10" invoice discount (the buyer receives 2 percent off for paying within

The Benefits of Scanning

Scanning Turns Paper Invoices Into "E" Data—and AP into "Accounts Paperless" by Judy Bicking, IOFM Senior Trainer Scanning technology and workflow present a huge opportunity to gain control over… Read More

What About a "No-PO, No Pay" Policy?

A question posed to IOFM rather frequently concerns a "no-PO, no pay" policy. Is it feasible? Should my organization implement one? Are there inherent problems? We asked IOFM Senior Trainer Judy… Read More

Request for ACH Direct Debit

This form requests setting up a direct debit arrangement for specific vendors. Microsoft Word

IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Payment in U.S. dollars to a Canadian vendor

Q. We have a vendor that has asked to be paid in US dollars but they have a Canadian bank account.… Read More

Frequency of payment runs

Q. I would be interested to know from others the frequency of their payment runs including payment… Read More

Implementing ERP-to-ACH Payments

When processing ACH payments manually becomes cumbersome for AP, it may be time to consider setting up the ERP system to process ACH payments automatically. That solution helped the AP department at

When processing ACH payments manually becomes cumbersome for AP, it may be time to consider setting up the ERP system to process ACH payments automatically. That solution helped the AP department at… Read More