Upcoming Conferences & Teleconference/Webinars
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Dear Colleague
We'd like to offer a special thank you to all the readers
who wrote last week. When we asked about your
policy regarding stays with family last week, we
expected to hear from a handful of readers. Boy, were
we surprised - both by the quantity and diversity of the
responses. We're still compiling the responses and
will share the best with everyone who sends their
policies, opinions, and thoughts.
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AP Recognition Week Celebration Questions Answered |
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A few readers wrote to ask if they could share news of
our AP Recognition Week celebration at local
meetings. The answer is absolutely! This is a
celebration for everyone in AP, not just our readers. As
mentioned last week, we have developed a series of
puzzles and a contest (along with our "Accounts
Payable Best Practices" low-cost Webinar) to be
delivered each morning the week of October 15. To be
included, simply send a note to publisher@ap-
now.com with the words "Recognize AP" in the subject
line and your company name and mailing address in
the body of the message.
What kind of puzzles? We've got another Payment
Sudoku, a Payment Jeopardy game to be played
alone or in a group, an Accounts Payable Maze and
more.
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Two Last Chances |
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This week there are two "last chances." The first is for
our Sales and Use Tax
Basics Webinar to be held this Thursday.
And, then there is our Forwarding Contest mentioned
last month. The deadline for that is the 15th. Believe it
or not, we think there are a number of AP folks out
there we haven't met yet and we'd like our readers to
recommend our newsletters to others who might be
interested. You can do this in one of three ways-and
we'll give you one entry into the contest for each
referral. The grand prize is an iPod Shuffle, basically a
really cute iPod that holds approximately 240 songs.
You can either mail the names, titles, company
names, and mailing addresses, if available to Mary
Schaeffer, Accounts Payable Now & Tomorrow, 560
Peoples Plaza #197, Newark DE 19702; fax them to
302 836 0541 or email the same information to
[email protected] or use the forward e-mail link
below the end of this e-zine.
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Register for Sales and Use Tax Basics: A Best Practice Approach |
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P-cards or ACH? |
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Both p-cards and ACH provide efficiencies in the
payment process. Deciding which to use requires
more planning than might meet the eye. For example,
if your organization intends to roll out p-cards in a big
way to take advantage of the rebate it can earn, you
might want to think twice about who you try to recruit
for your electronic payment program. Why? Because
vendors who sign up for your program may be less
than thrilled to find you want to switch them to p-cards,
given the discount fee they are required to pay. The
larger the payment the more likely you are to run into
this obstacle.
This is just one of the issues that will be addressed in
the Quiet Payment Revolution Webinar scheduled for
September 25.
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Get information about or Register for the Quiet Payment Revolution |
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Newsletter Excerpt |
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What's in Your Warehouse--Are You Reporting All
Your Unclaimed Property?
By J. Brooke Spotswood, Esq. and Dr Will Yancey,
CPA
Accounts payable professionals understand that
uncashed checks to vendors and employees are
treated as unclaimed property. If the checks are not
cashed or properly voided, the amount of the check
should be reported and remitted to the states
according to each state's specific reporting
procedures. But some accounts payable
professionals may be overlooking their exposure for
open receivers.
Open receivers are items on inventory receiving
reports that are not cleared by payments to the vendor.
Open receivers are also known as unclaimed
receivers or inventory over-counts. Inventory accounts
payable procedures require a three-way match with
three kinds of documents: receiving reports,
purchase orders, and vendor invoices. These
documents may be on paper or in electronic form. For
high-volume warehouses and distribution centers, the
open receivers file may consist of thousands of rows
of data. In some enterprise accounting systems, the
open receivers file is part of the Good
Received/Invoice Received ("GR/IR") sub-
system.
Open receivers can result in unclaimed property when
there are items remaining in the open receivers file
that are not cleared after several months. Let's look at
some examples of how open receivers can result in
what appear to be goods received but not paid
for.
The rest of this fine article can be found in the
September issue of Accounts Payable Now &
Tomorrow.
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Subscribe to Accounts Payable Now & Tomorrow |
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Yancey & Unclaimed Property |
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As you can see from the excerpt above, Dr. Yancey
certainly analyzes the issues with an exceptional
aptitude. That's why we are especially pleased that he
has agreed to join us for two unprecedented events.
He'll join Tracey Reid on the 20th for a look at what's
going on in California regarding
unclaimed property. The implications of those
decisions are far reaching-not only for those
organizations doing business in California but
everyone. The other states are watching closely and
we expect the ramifications to be wide.
The event on the 20th should be a real treat. As those
who joined us last week for the Unclaimed Property
Basics can attest, Tracey Reid knows her stuff and
knows how to make it interesting. In all the years I've
been running Webinars and conferences, I don't think
I ever saw ratings for a speaker that high-and we've
had some pretty good speakers!
Reid and Yancey will be joined by Brooke Spotswood
next April for a one-day intensive unclaimed property
seminar addressing both best practices for those
currently complying as well as the touchy issue of
getting in compliance if you are not. Click here for
information about this event.
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Register for the Sept 20th What the California Supreme Court Unclaimed Property Suit Means for Your Organization |
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In Closing |
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Thanks for listening.
Mary Schaeffer
Accounts Payable Now & Tomorrow
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