Vendor Master File

Maintaining a vendor master file can be a complicated process for many teams. IOFM offer content to help you learn best practices to standardize vendor team activities to avoid payment fraud, compliance fines, and bad vendor data.

Non-U.S. Vendor Setup Series Part 6

Confirming Remittance Changes Despite Language Barriers and Time Zone Differences by Debra R. Richardson When a U.S. vendor makes a change to its banking details for an electronic payment or a… 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 a vendor name

Q. I have always been told to follow the tax ID when updating vendor information. For example,… Read More

Best VMF practice for vendor changing name and tax ID

Q. We have a company that is changing name and tax ID. The vendor is providing the same materials,… Read More

Vendor changed tax ID in previous calendar year

Q. We are in the process of updating bank details for one of our suppliers. Part of the process is… Read More

Foreign vendor setup

Q. We have a vendor located in the UK that is billing us in British Sterling but is providing a… Read More

Non-U.S. Vendor Setup Series Part 5

Free Resources to Validate Money Transfer Codes for Non-U.S. Banks by Debra R. Richardson When making electronic payments to your vendors, it is critical to ensure the banking details are good… Read More

Non-U.S. Vendor Setup Series Part 4

Watchlist Options for Non-U.S. Vendors - by Debra R. Richardson As part of the vendor setup and maintenance process, vendors may need to be checked against applicable watchlists to avoid fines and… Read More