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Best practices for changing vendor banking information
December 19, 2023
Q. What would the best practice to implement when a vendor has new banking information?
A.
(Addressed by Debra Richardson, a third-party Vendor Master File Advisor -- https://www.debrarrichardson.com. Debra's independent advisory services firm offers experienced and practical help to financial operations professionals on vendor master file issues.)
When an existing vendor has a change in the banking, here are the best practices I recommend:1. AuthenticationStep 1: Authenticate the…
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