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.

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.

IRS OFAC rechecking process

Q. We manually verify our vendors using IRS OFAC screening before they are added to our system.… Read More

Non-U.S. Vendor Setup Series Part 8

Watch Out for These Unique Risks When Onboarding Non-U.S. Vendors by Debra R. Richardson If your company is global, you may need to onboard vendors from different countries and regions. This can… Read More

Which information on the W-9 to use for reporting?

Q. I have a question on the proper setup of a supplier if they complete Line 1 of a W-9 with their… Read More

Non-U.S. Vendor Setup Series Part 7

Non-U.S. Privacy Laws May Affect Vendor Information - by Debra R. Richardson In the ever-evolving world of data privacy, it is crucial for vendor teams to stay abreast of the various laws and… Read More

U.S. Privacy Laws May Affect Vendor Information

by Debra R. Richardson In the ever-evolving world of data privacy, it is crucial for vendor teams to stay abreast of the various laws and regulations that govern the handling of personal… 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

Non-U.S. Vendor Setup Series Part 3

Three Free Resources for Validating Addresses for Non-U.S. Vendors - by Debra R. Richardson In the first article of the non-U.S. vendor setup series, we explained how to find those non-U.S.… Read More

Non-U.S. Vendor Setup Series Part 2

Global Registration Numbers for Non-U.S. Vendors - by Debra R. Richardson In the first article of the non-U.S. vendor setup series, part 1, we explained how to find those non-U.S. vendors hiding in… Read More

Non-U.S. Vendor Setup Series Part 1

Tips for Finding Those Non-U.S. Vendors You Didn’t Think You Had - by Debra R. Richardson Collecting, validating and maintaining vendor data from non-U.S. vendors is different than the process for… Read More