Payment

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.

On an invoice - what does the term "Net 10th PROX" mean exactly?

"Net 10th Prox." means payment is due on the 10th of the month following the month the invoice is

Should a payment request form require two signatures?

Q. Should an invoice payment request form be required to have two signatures? Our practice has… Read More

Documentation required for check replacement from a search letter

Q. I would like to know what other companies do or what documentation, if any, they require for… Read More

Understanding Cash Management: Why it Is Important to AP Professionals

Since AP is the main gatekeeper of an organization’s outgoing cash, it plays a major role in the management of that cash. "The most successful AP departments recognize this—and they have adopted… Read More

Accounts Payable Solution Consultant Certificate Program (APSC) – Self-Study Online Course

Course Description

The course covers AP fundamentals, best practices and regulatory compliance, all of which are necessary to understand your clients who work in the accounts payable

Procure-to-Pay Specialist Certification (APPS) – Self-Study Online Course

Course Description

Every organization has a P2P process (buying and paying for goods and services), but most are unmanaged—separated by an operational wall between Procurement and Accounts

1099 reporting for PayPal and Venmo payments

Q. Who is responsible for issuing 1099 forms for reportable payments to individuals made through… Read More

Accounts Payable Specialist Certification – Self-Study Online Course

Course Description

The course covers AP fundamentals, best practices and regulatory compliance, all of which are necessary to excel in the accounts payable field. This course is the foundation for