Vendor Master File

Q. Is anyone currently using an outside vendor to handle the reconciliation of vendor… Read More

A recent benchmarking survey by IOFM indicates that overall, more than half of the vendors in respondents’ vendor master files are inactive. 

While organizations with better

… Read More

“Ownership” of the vendor master file varies among organizations, though for a sizable majority

… Read More

Maintaining the vendor master file (VMF) is one of the most challenging tasks in Accounts Payable. Even if every vendor’s information has been set up with perfect accuracy and you are the AP's… Read More

Q. (cont.) ... to deactivate the old vendor and create a new vendor with the new name, or to

… Read More

Q. (cont.) ... in order for AP to pull down their invoices. Do they participate? Or just continue

… Read More

Q. (cont.) Is this information correct? Office holiday parties/picnic - 100% deductible

… Read More

Q. (cont.) ... but still submit paper? Is there a standard charge for processing paper invoices

… Read More

Q. (cont.) We recently received documentation requesting that we update a supplier's banking

… Read More

No, addresses are not part of the IRS cross-matching process for validating Name-TIN combinations.

… Read More