Accounts Payable

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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.

Days payable outstanding

Q. Our organization is interested in understanding what other companies are targeting for their… 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.

1099s for third-party payment methods?

Q. Regarding third-party electronic payment filers like Venmo, PayPal, Zelle -- do they need to… 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.

Robotic process automation for invoice processing

Q. We are in the process of working on RPAs (Robotic Process Automation) for processing Accounts… 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.

Validating vendor payment information

Q. What is best practice when verifying or authenticating a vendor’s banking details? Is the… 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.

Moving from checks to ACH payments

Q. Our company is going through a big push to move away from checks and to ACH payments. I notice… 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.

1099 reporting when a factor is used

Q. One of our vendors just sent us a copy of a contract they now have with a bank that assigns all… 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.

Third party ACH verification

Q. Do you use a third-party to verify ACH information for vendors? If so who do you use and are… 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.

Mandating ACH payments in New York

Q. Does anyone have experience mandating ACH payments (vs. check printing) in New York… 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 printing vendor

Q.  We print approximately 45,000 checks annually and we're looking for a vendor that could take… 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.

Sending a check to an address other than the vendor's

Q. The payables department has fully outsourced our check printing. Our company now supports… Read More
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