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.

Five Rules for Effective Vendor Master Management

An inaccurate, unclear, or disorganized vendor master file spells disaster for AP—and could result in costly penalties for your company. A poorly maintained master vendor file can lead to duplicate… 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.

Should PO vendors and non-PO vendors be set up by different departments?

Q. Purchasing currently sets up vendors that are attached to a PO, and AP sets up vendors that are… Read More

W-9 with owner's name and DBA on it

Q. We have received a W-9 with the owner's name on line one and the business name (DBA) on line 2;… Read More

Setting up a vendor when the information is different from the W-9

Q. I am new to this role and cannot seem to find clear instructions for how to set up vendor… Read More

Year-End Is a Good Time to Scrub the VMF

11 things you should do now to clean up your vendor master file

by Sheila Velazquez, APM

Accounts payable professionals who wish to start the new year off right would be wise to perform a

Accounts Payable Solution Consultant Certificate Program (APSC) – Self-Study Online Course

Course Description

The course covers AP fundamentals, best practices and regulatory compliance, all of which are necessary to understand your clients who work in the accounts payable

Procure-to-Pay Solution Consultant Certificate Program (APPSC) – Self-Study Online Course

Course Description

Every organization has a P2P process (buying and paying for goods and services), but most are unmanaged—separated by an operational wall between Procurement and Accounts

Procure-to-Pay Specialist Certification (APPS) – Self-Study Online Course

Course Description

Every organization has a P2P process (buying and paying for goods and services), but most are unmanaged—separated by an operational wall between Procurement and Accounts

The Vendor Master File—Where Does It Belong?

By Pam Miller, APMD Who Manages the Vendor Master File? In many organizations the decision as to who should own the file boils down to choosing the department where the fewest problems are likely to… Read More

Accounts Payable Specialist Certification – Self-Study Online Course

Course Description

The course covers AP fundamentals, best practices and regulatory compliance, all of which are necessary to excel in the accounts payable field. This course is the foundation for