e-AP News
a short update on payment issues, news and products October 2, 2007

in this issue

What You'd Do: Double Dipping on Dinner

If it's Fall, It's Time to Get Ready for 1099s!

Consultant's Corner: Individuals' Names

Hotels for Information Reporting Seminars

Celebrating AP Recognition Week

Sales Tax and Unclaimed Property to the rescue-again!

An Amazon Hot New Release

In Closing


 

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.


  • What You'd Do: Double Dipping on Dinner
  • 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.

    Subscribe to Accounts Payable Now & Tomorrow
  • If it's Fall, It's Time to Get Ready for 1099s!
  • 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.

    Register for the Oct. 11 1099 Basics: A Best Practice Refresher Webinar
  • Consultant's Corner: Individuals' Names
  • 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.

    Purchase the 49¢ Master Vendor File Amazon Short
  • Hotels for Information Reporting Seminars
  • 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.

    Register/Information for the One Day Information Reporting Intensive One-Day Seminar
  • Celebrating AP Recognition Week
  • 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.

    Register for Accounts Payable Best Practice October 18 Webinar
  • Sales Tax and Unclaimed Property to the rescue-again!
  • 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.

    Get information/Register for the Unclaimed Property seminar on April 25
  • An Amazon Hot New Release
  • 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.

    Purchase any John Wiley book at a 15% discount
  • In Closing
  • 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

    :: 302 836 0540

    Email Marketing by