Vendor Master File

At one time, purchasing and accounts payable used different systems, each with its own vendor master file. Purchasing’s vendor master was a tool for issuing POs, while AP’s vendor master was a… Read More

This template can be used to document a new vendor setup. Microsoft Excel

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This template provides an example of a vendor master file policy. Microsoft Word

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This template provides an example of an internal control policy for managing the AP vendor data base. Format Microsoft

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This template is an example of a process flow for the setup of a new vendor. Format Microsoft

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This template provides example guidelines when creating a vendor name in your data base. Format Microsoft

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A project plan for ideas on what needs to be done to clean up the VMF, and in what order. Microsoft Word

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This template is an example of a letter that an AP organization can send to a new vendor and welcome them as a partner with their firm. Microsoft Word

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As a company was going through a Sarbanes-Oxley-driven internal review, the question of vendor verification came up. The accounts payable (AP) manager noted that, like many AP departments, it… Read More

This month's Question of the Month comes from Michelle Beall, Payables and Corporate Ops Manager of Nexion Health Management, Inc. She asks: "Does your organization conduct Office of Inspector… Read More