e-AP News
a short update on payment issues, news and products February 12, 2008

in this issue

What's Important to You?

T&E Fraud Detection and Prevention

Exceptions from Unclaimed Property Rules

Alert from our Newsletter

Bottomline Webinar: No Cost for Our Readers

In Closing,


 

Dear Colleague

I had a very interesting conversation yesterday with a professor who was in the process of putting together the curriculum for a program that included a section on accounts payable. From time to time I'm asked about accounts payable classes in colleges or community colleges.. If any readers know of any such courses I would love to hear from you. And if any of the accounting professors reading this have such a program or are considering one in their organization, I would love to hear from you also. Please drop me a note at marys@ap-now.com


  • What's Important to You?
  • As I was putting the final touches on the articles for our March Madness issue-which focuses on paper checks-it occurred to me that it has been a while since we polled our readers about what is important to them. While I have my own ideas about what topics are important, we believe that's only half the equation. The other part is you, our readers and Webinar and seminar participants. It is crucial that we know what your biggest problems are, what issues cause you the most grief, and where you think the accounts payable function is going.

    This information is critical in helping us craft the best programs to meet your needs. To help us won't you please take our Reader Planning survey by clicking the link below? We thank everyone who provides input.

    ake our 2008 Reader Planning survey
  • T&E Fraud Detection and Prevention
  • Are you bothered by those reimbursement requests right below the $25 receipt requirement level? If so, you are not alone. This issue annoys the living daylights out of many of our readers. In fact, quite a few believe some of their travelers are fraudulently requesting reimbursements. To combat this issue you can lower the receipt level to $5 or require the use of credit cards for everything. As one of our readers pointed out, "even McDonalds takes credit cards!"

    This is just one of the many issues we'll discuss at our T&E Fraud Detection and Prevention Webinar on Feb. 26. I'll be joined by InterplX's Chuck Bruckner, who will focus on the use of automation in the battle against fraud, and Rohm and Haas' Craig Stuart. He'll share his best practice experience talking about his organization's T&E process with a special focus on fraud detection and prevention.

    Register for the T&E Fraud Detection and Prevention webinar
  • Exceptions from Unclaimed Property Rules
  • I recently got a call from a reader inquiring about organizations exempt from unclaimed property reporting. She, hopefully, asked if not-for-profits were exempt from the law. I said I didn't think so but would double check. Here's what Tracey Reid, one of the experts joining us in April for our unclaimed property seminar had to say on this issue.
    "Not-for-profits, colleges, universities, etc. are generally all required to comply. Some states do exempt state and local "government" entities, which can mean school districts, but this exemption is not available in all states and colleges and universities rarely meet the requirements for exemption." So, sadly, I was not able to give the caller the news she had been hoping for.

    For Information or to Register for the Unclaimed Property Seminar
  • Alert from our Newsletter
  • Alert: Misclassified Workers Can File New Social Security Tax Form to Convert from Independent Contractor to Employee Status

    The employee or independent contractor question has once again reared its ugly head. The Internal Revenue Service has developed a new form for employees who have been misclassified as independent contractors by an employer. The form, Form 8919, Uncollected Social Security and Medicare Tax on Wages, will now be used to figure and report the employee's share of uncollected social security and Medicare taxes due on their compensation. While this may appear at first glance to be an individual issue and not a business problem, there are implications for your organization if one of your independent contractors files a Form 8919.
    The rest of this article is in the February issue of Accounts Payable Now & Tomorrow.

    Subscribe to Accounts Payable Now & Tomorrow
  • Bottomline Webinar: No Cost for Our Readers
  • 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 by the 2007 AFP Electronic Payments Survey, just released by the Association for Financial Professionals. The typical company now makes 74% of its B2B payments by check, down from 81% in 2004.

    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? Click on the link below to sign up for this special Bottomline webinar, "Making the Move to Electronic Payments" on February 27 free to our readers.

    Register for the Making the Move to e-Payments webinar
  • In Closing,
  • I just got off the phone with Cyrus Daftary, our speaker for this week's 1042-S Webinar. He shared some very interesting insights about where 1099 and 1042-S reporting is going. I'll compile my thoughts and notes and share some of that with you next week. Until then

    Thanks for listening
    Mary Schaeffer
    Editorial Director
    Accounts Payable Now & Tomorrow

    :: 302 836 0540

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