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Slowdowns in payment application?
September 21, 2021
Q. Have any of the panelists:• Noticed a slowdown in vendor payment applications?• Noticed an increase in misapplied payments to invoices on account?
I can only theorize that this is happening because they’re short-staffed, which delays payment applications. Or perhaps when payments are received by the cash application department, the related information on what is being paid isn’t provided or the person applying the payments isn’t paying attention or is pressed for time due to the volume of…
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