e-AP News
a short update on payment issues, news and products November 20, 2007

in this issue

Mileage Reimbursement Rate

Special $9.95 Offer

A Word about our Fraud Survey and a Hair-Raising Story

Voided Invoices

Last Chance to Register for Online Information Seminar Nov. 29th

Special Free Webinar Offer: Just for Our Readers

In Closing


 

Dear Colleague

As the holiday season fast approaches, we're hard at work making arrangements for some fun-okay, not necessarily fun but certainly informative-events for next year. And we think you'll be pleasantly surprised! We're working on arrangements with several vendors to keep these events affordable-in fact, one will even be free. (My daughter says that's my favorite word!). We've got some preliminary details here and will have more in the coming weeks. But first, news about the mileage reimbursement rate for 2008.


  • Mileage Reimbursement Rate
  • No, the Internal Revenue Service has not yet issued the new reimbursement rate and we've been watching closely for it for almost a month. We did some investigating as the new rate has usually been released by this point. We got in touch with our good friend, Jerry Michael, who called one of his contacts at the IRS and here's what he told us. The GSA has the responsibility for setting the rate and has not decided if a new rate should be established. A decision is expected before the end of the year. We'll have an update the moment we hear, so watch your e-mail box

    Subscribe to Accounts Payable Now & Tomorrow
  • Special $9.95 Offer
  • Last December we ran an expanded 20-page issue of Accounts Payable Now & Tomorrow packed with information to help you get through year end. Specifically it contained articles on: Now, for a limited time, we are making that issue available to our readers for only $9.95. Click here to order this issue for only $9.95-a $20 savings off the normal $29.95 price. If you need an order form, send an email to [email protected]

    • The Essentials of the Year-End Close
    • The Annual Information Reporting and Processing Calendar
    • An AP Year-End Check List
    • Eight December Projects Guaranteed to Make AP Run More Smoothly
    • The Frequency of Duplicate Payments
    • How to Reduce Duplicate Payments
    • The Future of the Accounts Payable Department and more.
    Now, for a limited time, we are making that issue available to our readers for only $9.95. Click here to order this issue for only $9.95-a $20 savings off the normal $29.95 price. If you need an order form, send an email to [email protected]

    Order the $9.95 Issue
  • A Word about our Fraud Survey and a Hair-Raising Story
  • Perhaps we didn't make this clear, but we'd like to hear from everyone in our survey-whether you've had fraud in your organization or not. So far the majority of our respondents have experienced fraud. I'm not sure if this is because those who have not feel they have nothing to report or fraud in the corporate world is actually more prevalent than I thought. So, if you haven't taken the survey, please do.

    And now for the now-I've-seen-everything story of the day straight from one of our readers. "The employee in question purchased an audio course meant to be completed anywhere and made it look like a conference that he needed to attend. The purpose of the deception was to get his company to reimburse him for travel to Orlando (where he took his family). When this was caught the organization went back three years and found he had done the same thing about two years before. This was presented to his VP who called him on it and made him pay back the previous travel expenses (we set up a payroll deduction). This could have been prevented with closer review of reimbursement requests by management, human resources, and AP."

    Readers might relay this story to managers who routinely approve expense reports without reviewing anything! We'll have additional believe-it-or-not stories to share in the coming weeks.

    Take the Fraud Survey
  • Voided Invoices
  • I'm working with a company that more than occasionally finds invoices have been entered in error. Clearly these must be removed as the financials will be incorrect if they are not. As they move forward with strong adherence to coding standards a lot of the problem will go away. My question to our readers is how they address this issue. How are the invoices removed from their system, what kind of documentation is required, and finally, what do you do if after removing the invoice, you discover the removal was an error? Anyone willing to contribute their thoughts on this issue should send a note to me at [email protected] and as always, we'll share all the responses with all the respondents.

  • Last Chance to Register for Online Information Seminar Nov. 29th
  • There's still time to sign up for the online information reporting seminar to be held on November 29 or to order the CDs of the event. The cost is $949 and you can bring the entire staff. This won't be one long boring lecture. There will be plenty of time for you to ask questions. If you can't make the event, CDs are also available. Click here to order the CDs or here to sign up for the event and get the CD.

    Sign up for the November 29 six-hour online 1099 Webinar
  • Special Free Webinar Offer: Just for Our Readers
  • CRYSTALLUS, Inc., the publisher of this e-zine and Accounts Payable Now & Tomorrow has made arrangements for readers of both publications to attend a free Webinar. The topic is on a subject near and dear to our hearts: Making the Move to Electronic Payments and will be held on February 27. It will be hosted by Bottomline Technologies.

    Organizations of all sizes are frequently advised that a leading AP best practice is to move away from paper checks and use electronic means to make payments, including ACH, wire transfers, and p-cards. Although checks are still the dominant method for business-to- business payments, companies are gradually overcoming the behavioral and technical challenges to increase their use of e-payments. This is supported in the 2007 AFP Electronic Payments Survey, just released by the Association for Financial Professionals (AFP). The typical company now makes 74% of its B2B payments by check, down from 81% in 2004, when the last survey was conducted.

    But why is the adoption curve not growing more quickly, and what can your organization do to increase its own use of e-payments and reap all the associated benefits? Watch this space for more information on the free, upcoming Webinar offered by Bottomline Technologies that will offer both industry perspective and practical advice on removing the barriers to e- payment adoption for your company. If you would like to register now, Bottomline will follow-up with all the details for this early 2008 event.

    Register for the Making the Move to e-Payments webinar
  • In Closing
  • As mentioned earlier, we are working on a number of events. We are especially pleased to be joining forces with Rich Lanza to bring you a truly unique program entitled Is Your Procure-to-Pay Function Leaking Cash: A Best Practice Solution. We're preparing both an online version and a live version. Watch next week's issue for more details. Until then, thanks for listening and have a GREAT Thanksgiving.

    Mary Schaeffer
    editorial director

    :: 302 836 0540

    Email Marketing by