Accounts Payable

Invoice Matching

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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.

Posting Invoices in the Correct Month: Pros, Cons, and Best Practices

Q. What are pros and cons of posting invoices in correct month? A. (Answered by a member of IOFM's… 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.

Best Practices for Calculating Invoice Payment Terms

Q. Are there Best practices for calculating payment terms based upon receipt of valid invoice vs.… 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.

Best Practices for Vendor Payments Upon Invoice Receipt

Q. Are there Best Class processes for paying vendors upon receipt of invoice? Does the best class… 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.

Handling Non-PO Invoices with Backdated Invoice Dates

Q. We have vendors that will submit their invoices in August with an invoice date of May. Does… 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.

Common Thresholds for 2-Way Match Auto-Approval in PO-Based Invoicing

Q. Currently our threshold for PO based invoices for 2 way match is $150. Anything under $150 does… 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.

Best Invoice Number Format for Payments Without Invoice Numbers

Q. We are an US insurance company with a US insured. Last year, we issued a settlement payment to 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.

Invoice Due Dates vs. PO Terms: Managing Payment Timing and Compliance

Q.  At our organization, our payables system is set up so that it takes the Purchase Order (or… 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.

OCR implementation

Q. My company is starting the implementation process with a new ERP system that includes OCR for… 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.

Vendors who don't invoice at the PO price

Q. Are vendors contractually obligated to invoice at the PO price? We have a punch out vendor who… 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.

The challenge of non-PO invoices

Q. We are a hospital chain with 48 hospitals and 1,000 clinics. We are struggling with non-PO… Read More
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