Upcoming Conferences & Teleconference/Webinars
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Dear Colleague
Our T&E fraud story last week evoked an avalanche of
responses. It just so happened that a few days later I
was part of a panel for a group of travel executives on
T&E Fraud so I asked them the same question. They
voted using a hand-held device similar to the ones
used on some Game Shows. I'm getting ahead of
myself, aren't I? Let's go back to the original question.
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What You'd Do: Double Dipping on Dinner |
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I asked you how you would have handled the two
women who admitted they had both put in for the
same meal, intending to share the "profits." A
whopping 70% of our readers would have fired the
two. The remaining 30% would give them a firm
warning and a few even suggested that they not be
allowed to travel anymore. The travel execs did not
take as harsh a stance with only 23% of them feeling
termination was a suitable punishment. Personally, I
would have told them both to look for another job but
would not have put them out on the street. When I said
this to the fellow who told me the story, he said, "But
Mary, they stole from the company." I had to admit he
was correct.
Now, I have another true story. This involves a
salesman who routinely put in for extra miles on every
trip. When confronted by the savvy AP manager who
uncovered his deception and presented with a $1200
bill to cover his excess charges, he admitted to the
fraud-and refused to reimburse the company. When
his supervisor was brought in he agreed to
a "repayment plan," made two payments and then
refused to pay anything more. By the way, he was one
of the organization's top sales people.
Again, if you wouldn't mind, send a note to
publisher@ap-now.com with your reaction. Simply put
one of the following words in the subject line: Fire,
Probation, Nothing, A warning, or Prosecute. If you
want to add your comments, that is fine, but don't feel
obligated to do so. I'll tell you next week what
happened as well as what the travel execs voted to do.
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Subscribe to Accounts Payable Now & Tomorrow |
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If it's Fall, It's Time to Get Ready for 1099s! |
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We're really pleased to kick off our Fall Information
Reporting series with a Best Practices Refresher
Webinar featuring IRSCompliance.org's Jerry Michael
and his staff. As usual, in one succinct hour they will
present the basic information your and your staff need
to get your 1099s out the door quickly and accurately.
We hope you will join us in welcoming them on
October 11.
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Register for the Oct. 11 1099 Basics: A Best Practice Refresher Webinar |
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Consultant's Corner: Individuals' Names |
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With this issue we're introducing a new column called
Consultants' Corner. It will feature real-life problems
from our consulting practice as well as questions
posed by readers. The first one comes from one of my
clients. The company in question is getting ready to
clean up its master vendor file for the first time ever.
Individuals are listed in the file-and there are many of
them-with their first name first; i.e. Mary Schaffer not
Schaeffer, Mary.
What should the company do? Continue as it is or
make the change to last name first (really preferable)
and change every individual in the file? Resources are
limited and the goal is to get the file cleaned up as
quickly as possible. The company plans to continue
entering individuals with first name first and not make
any changes to this feature in the existing file.
Suggestions, as well as questions you'd like to see
addressed, can be sent to publisher@ap-
now.com
Readers who are interested in learning more about
Master Vendor File Best Practices might consider the
Amazon Short, entitled Master Vendor File. It is available as a
download and costs a whopping 49 cents.
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Purchase the 49¢ Master Vendor File Amazon Short |
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Hotels for Information Reporting Seminars |
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We've had several calls asking which hotels the
Information Reporting seminars are to be held in this
fall so here's the information again. We'll be at the
Hotel Tria in the Cambridge section of Boston on
October 22, the Hyatt at Fisherman's Wharf in San
Francisco on October 25 and the Knickerbocker
Millennium in Chicago on November 5. The
instructors for these events are Jerry Michael and
Carol Kassem. As always, if you need an invoice, W-9
or are sending three or more and would like a group
discount, send an e-mail to publisher@ap-now.com
or call 302 836 0540.
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Register/Information for the One Day Information Reporting Intensive One-Day Seminar |
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Celebrating AP Recognition Week |
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Have you joined the multitude of your peers who will
be celebrating AP Recognition week with Accounts
Payable Now & Tomorrow and receiving a puzzle each
morning ? These can be used individually or in a
group if you chose to share with your team. There is
no charge to participate and we encourage everyone
to sign up by simply sending an e-mail to
publisher@ap-now.com with the words, "Count Me In"
in the subject line. We are also holding our low-cost
($39.95) Accounts Payable Best
Practice Webinar that week on the 18th. We hope
by offering this event below cost readers who have not
given the Webinar format a try will do so.
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Register for Accounts Payable Best Practice October 18 Webinar |
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Sales Tax and Unclaimed Property to the rescue-again! |
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The shutdown of the Michigan state government was
averted when the Senate voted to expand the 6%
sales tax to various services. Cook County in Chicago
is also considering a hefty increase in certain sales
taxes to balance its budget without cutting services.
And Teton County in Wyoming has a sales tax
increase on the table for discussion. At the same
time, the state of Wisconsin has held its first auction
of unclaimed property on e-Bay and it was so
successful it's planning a second.
These are just a few of the stories in the news
yesterday. What they demonstrate is the thinking of
our elected officials across the country. Whenever
there is a financial shortfall, one of the first places they
look is sales and use tax and unclaimed property.
Most are also looking to squeeze the maximum
revenue from their existing tax base and are
increasing the number of auditors looking for missing
revenue. It goes without saying that these auditors
have no sense of humor with noncompliant
organizations.
This is why Accounts Payable Now & Tomorrow
is strongly urging its readers to get their
unclaimed property and sales and use tax functions in
order, if you haven't yet done so. We've already held
two Webinars on the basics of these functions. CDs of
the Unclaimed Property
Basics and Sales and Use Tax
Basics are available for sale.
Looking forward, we have two more events on these
timely issues. On October 24 Silvia Aguirre and Matt
MacNeil will return to present a session on Dealing with a Sales
and Use Tax Audit-something we are afraid a
growing number of our readers will be subject to.
In a ground-breaking presentation Tracey Reid and
Will Yancey will join us on November 8 to present the
latest information on the California situation
including the implications of the hearing being
held today. This matter is being closely watched not
only by every organization doing business with
suppliers located in California but also by the other
states. There could be far-reaching implications.
Finally, next April 25, Reid and Yancey will be joined by
attorney Brooke Spotswood for an all-day Best
Practice seminar. It will provide the most up-to-date
information for both those currently complying as well
as those seeking to comply. We should state for the
record that none of these experts do any work for the
states-although Spotswood did at one time. This
gives him the unique perspective of being able to
share information from both sides of the table. All the
speakers have agreed to remit the cost of this event
against future fees should any attendee decide to hire
them.
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Get information/Register for the Unclaimed Property seminar on April 25 |
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An Amazon Hot New Release |
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As we were preparing this we got news that my new
book, Brave New Payment World, was number
3 on Amazon's Hot New Release list for corporate
finance books. Needless to say, I was quite pleased -
and a little shocked. You can get this book at a 15%
discount by clicking on the Wiley link that shows up
when you click the link below.
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Purchase any John Wiley book at a 15% discount |
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In Closing |
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A special thank you to all the readers who gave me a
much-needed laugh with their T&E responses -
desperately needed, given the heartbreaking
performance of my NY Mets.
That's a wrap for this week.
Thanks for listening,
Mary Schaeffer
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