Adding or updating vendor banking information from an invoice

January 11, 2021


Q. Is adding or updating the vendor's banking from an invoice copy to the Vendor Master Data file compliant or not? Where can I find additional information on compliance? A. (Answered by IOFM Vendor Master File expert Debra Richardson) Adding vendor banking to the vendor master file for Accounts Payable payments from an invoice is not a compliance issue, since there are no regulatory fines or assessments associated with this activity.  There are, however, at least two issues I see that it…

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