Vendor Master File

A project plan for ideas on what needs to be done to clean up the VMF, and in what order. Microsoft Word

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This template is an example of a letter that an AP organization can send to a new vendor and welcome them as a partner with their firm. Microsoft Word

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As a company was going through a Sarbanes-Oxley-driven internal review, the question of vendor verification came up. The accounts payable (AP) manager noted that, like many AP departments, it… Read More

This month's Question of the Month comes from Michelle Beall, Payables and Corporate Ops Manager of Nexion Health Management, Inc. She asks: "Does your organization conduct Office of Inspector… Read More

by Jon Casher Incorrect zip codes, misspelled cities, invalid state codes may keep your vendor payments from being delivered. Up to 95 percent of the addresses in the typical company’s vendor file… Read More

What is a letter of credit? - A letter of credit (LC) is a document issued by a bank or other financial institution on behalf of one of its clients, called the "applicant." The letter is… Read More

The challenge of maintaining the vendor master file is apparently an issue that crosses all borders. Jakub Pavlik, Cash & Bank Administrator, JNJ Global Business Services in Prague 5, Czech Republic,… Read More

It’s a scene repeated on a daily basis in AP departments everywhere—a vendor calls demanding payment. In many cases, the vendor is polite and merely concerned. But in some cases, the vendor is

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By Pam Miller, APMD There are a number of reasons why mailing all checks directly to the payee is sound policy. For example, mailing direct to the payee: Guarantees that the check will be sent to… Read More

A comprehensive supplier master cleansing process streamlines operations for both accounts payable and procurement. This supplier master clean-up is typically performed as part of a system conversion… Read More