The New Accounts Payable Toolkit

Name: The New Accounts Payable Toolkit
Brand: Wiley
Price: 46.99 EUR
Availability: OnlineOnly

Christine H. Doxey(Autor*in)

Wiley (Verlag)

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Erschienen am 8. April 2021

496 Seiten

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Beschreibung

THE NEW ACCOUNTS PAYABLE TOOLKIT

In The New Accounts Payable Toolkit, accomplished entrepreneur, consultant, and finance expert Christine H. Doxey delivers a unique and powerful approach to the accounts payable process and discusses the impact of the automation of the Procure to Pay (P2P) process. The toolkit explores all aspects of the accounts payable process, from the establishment of the contract and the purchase order to the supplier validation process, invoice processing and payment, accounting, and fiscal close.

You'll learn the key metrics and analytics needed for the accounts payable process. This comprehensive toolkit provides the best practices, tools, and internal controls that can help safeguard your company's cash and other assets. You'll obtain a variety of tools to create the foundation required for current internal controls and compliance to ensure that suppliers are correctly validated in the supplier master file to maintain regulatory compliance.

Avoid paying fraudulent or inaccurate invoices and avoid paying a supplier's invoice more than once. Be certain that all supplier invoices are properly accounted for to ensure an accurate fiscal close. Finally, stay up to date with all current and coming trends in the accounts payable process, including eInvoicing, ePayment, Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning, and eAccounting.

The New Accounts Payable Toolkit provides guidance for the implementation of AP automation solutions that can streamline and modernize your own systems and processes to take advantage of new digital developments.

Perfect for controllers, chief financial officers, and finance managers, The New Accounts Payable Toolkit will also earn a place in the libraries of students and professionals who seek to better understand the components of an optimal accounts payable.

UNCOVER A UNIQUE AND POWERFUL NEW APPROACH TO ACCOUNTS PAYABLE PROCESSES

The New Accounts Payable Toolkit offers readers a comprehensive and timely new way of handling their accounts payable systems and processes. You'll discover how to implement new digital technologies in every aspect of the accounts payable process, from the establishment of the initial contract and purchase order to the supplier validation process, invoice processing and payment, accounting, and fiscal close.

You'll learn to validate suppliers in the master list to ensure regulatory compliance, prevent multiple payments for a single invoice, keep from paying fraudulent, inaccurate, or incomplete invoices, and apply best practices to help safeguard your company's assets. You'll also discover how to measure and record key metrics and analytics to maintain an effective accounts payable process. Finally, you'll read about new and upcoming trends in accounts payable, like artificial intelligence, machine learning, and robotic process automation that you can implement today to realize new efficiencies and savings.

Ideal for chief financial officers, finance managers, and controllers, The New Accounts Payable Toolkit is an invaluable guide to modernizing and optimizing your own company's accounts payable processes and systems.

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Inhalt

Cover
Title Page
Copyright Page
Contents
Section 1 Introduction
Chapter 1 About This Toolkit
Index of AP Tools
Section 2 The New AP Department
Chapter 2 The New AP Department
Introduction
Case Study: Journey to Excellence
Focus on Corporate Productivity
Accounts Payable and Procure-to-Pay (P2P) Process Improvements
AP Tool 1: AP Process Improvement and Automation Checklist
P2P Reporting, Understanding, and Perspective
AP Tool 2: Procurement Spend Analysis
Strategic Sourcing
Other Procure-to-Pay Best Practices
AP Process Improvement Impacts on Working Capital
Average Payable Period
Measuring Average Payable Period
When to Take a Trade Discount
Negotiating Payment Terms
Overview of the Requirements of the Sarbanes-Oxley Act of 2002
Accounts Payable, Risk, and Fraud
Fraud Statistics
Introduction to Internal Controls
Standards of Internal Control
AP Tool 3: Types of Internal Controls
Defining Control Activities
The Three Critical Corporate Controls
AP Tool 4: The Benefits of Segregation of Duties (SoD) Controls
AP Tool 5: Mitigating Risk with Internal Controls
AP Tool 6: Compensating Controls to Mitigate Risk
AP Tool 7: Your Roadmap for Implementing an Internal Controls Program
AP Tool 8: The Top Twenty Controls for the AP Process
Benefits of a Payment Audit Process
AP Tool 9: Internal Controls Checklist
AP Tool 10: Sample Internal Controls Program for Accounts Payable for Companies Using the SAP ERP
AP Tool 11: Metrics to Drive Process Improvements
Chapter 3 Automating the AP Process
Introduction
Benefits of AP Automation
A Summary of AP Automation Functionality Considerations
Examples of AP Automation Solutions
Other Types of AP Automation
Imaging and Workflow Automation (IWA)
Different Flavors of Imaging and Workflow Automation
Electronic Invoicing
Different Flavors of Electronic Invoicing
Convergence of Electronic Invoicing and IWA
Implementation of Your P2P Automation Solution
Developing the Business Case
Software Solutions, Software-as-a-Service, or Outsourcing?
Section 3 Dissecting the P2P Process
Chapter 4 What Is the P2P Process?
Introduction
P2P Business Partnerships, Dependencies, and Interdependencies for Success
AP Tool 12: Dependencies and Interdependencies Within the P2P Process
Chapter 5 Transforming the P2P Process
Introduction
AP Tool 13: Current State Analysis
Visioning and Transformation Roadmap
AP Tool 14: P2P Transformation Roadmap
AP Tool 15: Other Recommendations for P2P Transformation
AP Tool 16: Managing Change
AP Tool 17: P2P Transformation Metrics
AP Tool 18: Streamlining Your P2P Process Without Automation
AP Tool 19: How to Begin Your P2P Automation Journey
Chapter 6 Structuring the AP Organization
Introduction
The Finance and Accounting Organization
The Finance and Accounting Organizational Chart (Example)
Organizational Chart for an AP Department (Example)
History of the Transition
About Shared Services
Organizational Chart for a Shared Services Structure (Example)
Shared Services and Service-Level Agreements (SLAs)
Section 4 How Procurement and Receiving Impact AP
Chapter 7 Supplier Selection and Management
Introduction
Supplier Selection and Management Process Insights
AP Tool 20: The Top Ten Best Practices in the Supplier Management Lifecycle
AP Tool 21: Five Steps to Use When "Fine-Tuning" Your Supplier Master FILE
Another Look at Supplier Master File Management Best Practices
AP Tool 22: Supplier Diversity
AP Tool 23: Eight Critical Supplier Master Practices
AP Tool 24: Managing the Supplier Master File
Standards of Internal Control: Supplier Selection and Management
Chapter 8 Contract Management
Introduction
Contract Management Process Insights
AP Tool 25: Defining the Types of Contracts
AP Tool 26: Ten Recommendations for Establishing Contracts
Standards of Internal Control: Contract Management
Chapter 9 Purchasing and Ordering
Introduction
AP Tool 27: Five Steps in an Electronic Procurement Process
Purchasing and Ordering Process Insights
AP Tool 28: Four Best Practices to Consider for the Purchase Requisition Process
The Catalog Procurement Model
Standards of Internal Control: Purchasing and Ordering Process
Chapter 10 Receiving
Introduction
Receiving Process Insights
Standards of Internal Controls: Receiving Process
Section 5 A Laser Focus on AP
Chapter 11 The Supplier Master File
Introduction
AP Tool 29: Supplier Master File Process Best Practices
AP Tool 30: Supplier Master File Coding Standards
Standards of Internal Control: Supplier Master
Chapter 12 Invoice Processing
Introduction
Invoice Processing Insights
Types of Matching Processes
Automating the Matching Process
AP Tool 31: Establishing Tolerances
AP Tool 32: Five Factors Driving the Automation of Invoice Processing
The Benefits of Sending and Receiving Electronic Invoices
AP Tool 33: The Most Common Forms of Invoice Automation
AP Tool 34: Six Best Practices for Invoice Processing
AP Tool 35: Three Components of Imaging and Workflow
AP Tool 36: Nine Performance Indicators for Invoice Processing
AP Tool 37: The Twenty-Five Top Reasons for Problem Invoices
Standards of Internal Controls: Invoice Processing
Chapter 13 P-Cards
Introduction
Types of Payment Cards
P-Card Definitions
AP Tool 38: P-Card Program Best Practices
AP Tool 39: P-Card Program Implementation Best Practices
AP Tool 40: The P-Card Holder Agreement
AP Tool 41: The P-Card Scorecard
Standards of Internal Controls: P-Card Process
Chapter 14 Travel and Entertainment
Introduction
AP Tool 42: Red Flags for the T&E Process
Standards of Internal Control: T&E Process
Chapter 15 The Payment Process
Introduction
AP Tool 43: Effectively Managing Your Payment Process
AP Tool 44: Five ACH Controls
AP Tool 45: Preventing Duplicate Payments
AP Tool 46: Eight Best Payment Practices
AP Tool 47: Tackling Payments Fraud
Standards of Internal Control: Payment Process
Chapter 16 Accounting, Reconciliation Processes, Self-Audit Tools, and Internal Controls
Introduction
AP Tool 48: The Financial Close Checklist for Accounts Payable
Standards of Internal Controls: Accounting, Reconciliation Processes, Self-Audits, and Internal Controls
Chapter 17 Customer Service
Introduction
Standards of Internal Controls: Customer Service Process
Chapter 18 Reporting, Analytics, and Benchmarking
Introduction
AP Tool 49: How to Implement a Successful Metrics Process
Standards of Internal Control: Reporting, Analytics, and Benchmarking Process
Section 6 Other AP Business Processes
Chapter 19 Supply Chain Financing (SCF)
Introduction
Unlocking Supply Chain Value
AP Tool 50: Defining Who Benefits from an SCF Solution
Chapter 20 Escheatment
Introduction
Uniform Unclaimed Property Act (the 2016 Act)
Trends in Unclaimed Property Audit and Compliance Issues
The Three Objectives of Unclaimed Property Laws
AP Tool 51: Action Plan for the Holder of Unclaimed Property
AP Tool 52: Basic Procedures for Managing Your Company's Escheatment Obligations
AP Tool 53: Unclaimed Property Checklist
Chapter 21 Sales and Use Tax
Introduction
What the Wayfair Decision Means for Out-of-State Sellers
Chapter 22 Independent Contractors and the 1099 Process
TIN Matching and 1099 Filers
AP Tool 54: Identifying Your Payee
AP Tool 55: Compliance Checklist and Year-End Review
Chapter 23 Business Continuity Planning
Introduction
How COVID-19 Is Impacting Today's Business Environment
Business Continuity Basics
The Difference Between Disaster Recovery and Business Continuity
Other Definitions and Terms
Managing a Crisis
Assessing the Risk and Developing a Strategy
Taking Business Continuity to the Cloud
How to Ensure Continuous Business Continuity
AP Tool 56: Six BCP Best Practices
AP Tool 57: A Roadmap for Developing Your BCP
AP Tool 58: Five Recommended BCP Internal Controls
Section 7 Addendum
Accounts Payable: Quarterly Controls Self-Assessment Questionnaire
Glossary
Index
EULA

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