Accounts Payable

Payment

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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.

Controls by ERP system when making ACH payment runs

Q. My organization uses an Oracle JD Edwards ERP system. When vendor ACH payment runs are… Read More
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.

Check payment stopped by the bank but settled by the ERP system

Q. AP stopped a check at the bank but our ERP system settled it somehow. Now we need to "Unsettle… Read More
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 types and terms

Q. What payment method(s) does your company have? And what is the % of each? If you issue checks… Read More
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.

Honorarium payments

Q. Is there anyone in the Higher Education space that uses a 3rd party software to handle… Read More
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.

Updating invoice due dates

Q. Invoices are often submitted late by our practice department. When invoices are processed, the… Read More
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.

Best practices for enrolling vendors in ACH

Q. Can you tell me some best practices and/or procedures when enrolling vendors unto ACH? How do… Read More
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 policies

Q. I am interested in examples of payment policies. I would like to create one for the university I… Read More
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.

Changes to existing supplier names

Q. I would appreciate your input on how to handle situations involving changes in supplier names… Read More
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.

Invoices to be paid to a different party than the one on the W-9

Q. In a hospital /  healthcare setting, we have vendors who turn in their W-9s with their group… Read More
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.

Name for final payment to a deceased employee

Q. In what name should we make final payments for a deceased employee? On the W-9 section:1- is in… Read More
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