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Best practices for payments not issued through normal channels
April 5, 2022
Q. My policies and procedures are coming up for review and I feel there are opportunities to improve/enhance our current controls and processes.
I’m interested in hearing how other automated or semi-automated AP departments are handling the following situations.
Wire Transfer and ACH Debit/Bank Drafts
As an AP organization, what are your best practices for recording transactions that don’t run through normal payment channels in the ERP (i.e. check/ACH)
Example 1: A treasury department, separate…
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