Vendor Master File

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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.

Q. Does the DBA name need to be TIN Matched as well of the name on line 1? What are the procedures… Read More

by Chris Dritsas, Accounts Payable Manager

Use Win-Win Communication in a Client-Facing AP Environment

Top-quality customer service to both internal and external customers is our number-one goal in

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- How to Promote Win-Win Communication The need for sound communication is critical to success in the client-facing environment in which we work. Strive to create “win-win communication” with… Read More
When paying an invoice, it is generally considered a good practice to be sure to find and pay the correct vendor. You also want to be sure that you have the vendor’s correct name and tax ID number… Read More

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Accounts payable’s role in on-boarding suppliers is critical to getting an initial supplier relationship off on the right foot, and throughout the lifecycle AP is the

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On-demand Webinar | Free

Wait! Before you pay that supplier, are you certain they’re payable? Nearly everything that can go wrong with supplier payments stems from the workflow of data collection

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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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