Vendor Master File

Maintaining a vendor master file can be a complicated process for many teams. IOFM offer content to help you learn best practices to standardize vendor team activities to avoid payment fraud, compliance fines, and bad vendor data.

Managing Vendor Forms and Anti-Fraud Requests: Best Practices for AR Teams

Q. More and more customers are requiring our company to complete “Vendor Forms” or similar… Read More

Implement A Security Audit to Prevent Fraud

In today's fraud landscape, keeping your organization’s vendor and customer sensitive data from unauthorized access is critical. Implementing a security audit that includes least privileged is

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.

Insights and Best Practices for Vendor Portals

Q. I would like some feedback on experiences implementing or rolling out a vendor portal to your… Read More

Foreign Vendor Identification: Handling Missing TINs and SSNs for Reporting

Q. I have two foreign vendors that are missing a TIN or SSN. One is also missing DOB. What… Read More

Missing a Valid Vendor Address? Five Free Resources for Finding Vendor Addresses

Maintaining accurate and up-to-date vendor addresses in your vendor master file is essential for financial operations. If your vendor address information is out of date or missing your company

Images of W-9s and voided checks

Q. Vendor Maintenance: when our plants are submitting documentation for a vendor set up in our ERP… Read More

Account frozen per OFAC request

Q. I have never see an "account frozen/returned per OFAC request" before. I did some research… Read More

ACH banking validation requirements

Q. We are using DocuSign to request ACH information from our vendors with a form that provides the… Read More

Non-U.S. Vendor Setup Series Part 5

Free Resources to Validate Money Transfer Codes for Non-U.S. Banks by Debra R. Richardson When making electronic payments to your vendors, it is critical to ensure the banking details are good… Read More

Non-U.S. Vendor Setup Series Part 4

Watchlist Options for Non-U.S. Vendors - by Debra R. Richardson As part of the vendor setup and maintenance process, vendors may need to be checked against applicable watchlists to avoid fines and… Read More