Accounts Payable

Payment

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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.

Tracking payments

Q. We are a small healthcare association company that does not want to implement a PO system, so we… 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.

Check request templates

Q. Does anyone have samples or templates for check requests? I'm looking for a better format than… 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.

Passive invoice approval threshold

Q. What invoice dollar value do you allow to be auto-posted by your system? I'm looking 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.

Paying utilities

Q. Our company has a large amount of utility invoices each month and currently the AP team logs… 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.

Frequency of trade payments

Q. Is there a recommended frequency for trade (non utility) type of payments? A. Payment frequency… 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.

How do e-checks work?

Q. Can anyone explain how e-checks work? We are trying to do away with printing checks and I was… 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.

Authenticating vendor banking information

Q. Our company works with 80% Independent Contractors in our vendor master file. We are currently… 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.

Understanding early-pay discount terms

Q. A supplier offered me an early payment discount. The invoice is 2%/Net15 / Net30. This means… Read More

Is a physical signature required on an electronic ACH form?

Q. We are working on updating our ACH form into Fireform: (FireForm allows you to build your own… Read More
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