Best practices for the invoice handling function are critical for those organizations concerned about their profitability. Poor practices result in excess costs, duplicate payments, increased processing expenses, fraud, and frayed vendor relationships. This course presents information you can use to identify best practice problems. Industry expert Mary S. Schaeffer explains the invoice issues, then reveals the best practices, almost best practices, and worst practices for each problem facing accounts payable dealing with invoice handling.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify effective invoice receipt practices;
Cite effective data entry rules for invoice processors; and
Identify best practice invoice handling routines.
Major Topics
Receipt of Invoices
Invoice Handling-Approvals
Invoice Data Requirements
Verifying Invoice Data
Invoice-Coding Standards
Short-Paying Invoices
Handling Unidentified Invoices
Handling Invoices without Invoice Numbers
Discrepant Invoices
