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Dear Colleague
I just read an article in our local Delaware newspaper
that, frankly, I don't understand. Perhaps this is a male
thing or maybe I'm just cheap, but here's the story. It
seems that license plates with a single digit are very
desirable. (Who knew?) So what did the state of
Delaware do? It auctioned them off. Believe me, I
understand Delaware's motivation. Here's what I don't
get: someone paid $625,000 for one of those plates!
What this does demonstrate, at least to me, is the
creative lengths that states are willing to go to add
revenue to their coffers. Well, enough of my ranting
and on to more serious issues-which is why you are
reading this in the first place, right?
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| TIN Matching: The Sign-up Problem |
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"If/when the proposed changes for 1099s go into
effect and businesses are required to use the TIN
Matching Program, do you see this program
changing," writes one of our readers. "The main piece
I am interested in is the fact that it requires personal
information. Finding someone within a larger
organization who is willing to put their personal info
out there for the business purpose has been difficult."
This got me thinking. I know this is a common
problem in about half the organizations that want to
use this helpful program.
Occasionally, explaining to the executive in charge that
the information is used only by the IRS to verify their
identity helps. Additionally, the information can be
input when no one else is around and is not
retrievable afterwards.
If any of our readers have found another way to get
around the issue or convince the powers that be in
their firm to sign up, I'd love to hear from you. As
always, all solutions and suggestions will be shared
with anyone who contributes. Send your thoughts to
publisher@ap-now.com - or post them on our blog!
And, if you're concerned about your overall information
reporting processes and want to start implementing
Best Practices before corporate reporting becomes a
reality, you might want to join us on March 11 as Carol
Kassem shares her considerable expertise in this
arena.
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Register for the How to Create an Effective TIN Solicitation Program Webinar |
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| The AP Now Blog |
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As mentioned in an earlier edition, we have started a
blog and we welcome reader comments. I hope you'll
participate. I'll be expanding my "thoughts" on the
implications of the license plate issue, the reluctance
of executives to use personal information when
signing up for the TIN Matching program, and much
more. The posts will be reviewed and released
several times a day. This ensures no advertisements
or objectionable material gets posted.
If you have an issue/question you wish discussed,
just drop me a note and we'll get it up there.
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Check out the AP Now Blog |
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| T&E Best Practices book (at no additional cost) |
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Just in case you didn't see the announcement we
sent on Friday, we were purchasing a large number of
the T&E Best Practice books so we decided to include
them at no extra cost with the Webinar or CD. We're
running our T&E Fraud Detection and Prevention
Webinar this afternoon And if you attend or order the
CD of the event, we'll send you a free copy of the T&E
Best Practices book, published last year by John Wiley
& Sons-a $60 value. And, if you need an invoice, just
drop a note to publisher@ap-now.com and we'll get
you one by return e-mail.
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Order the T&E Fraud CD - and get the T&E Best Practices book |
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| Tip of the Week |
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Is your staff-and for that matter everyone else in the
organization-careful about what information they give
out over the phone? Not everyone realizes that many
phony invoice schemes start with a seemingly
innocent phone call. The crook on the other end of the
phone is collecting valuable information about your
company to use in creating fraudulent invoices. And,
the person providing the information doesn't realize
they are putting ammunition in the hands of the wrong
people.
While most people now know not to automatically give
wire transfer information to any Tom, Dick, or Harry
who calls, they often don't take the same care with
other information about the organization. While the
information may be harmless, what the recipient does
with it is not. Employees should be trained to ask who
is calling, what their phone number is so someone
can return the call, and why they want the information.
A quick hang up is an indication that the caller did not
have honorable intentions.
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| Last Chance: The Special Issues Sale Ends This Week |
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The $29.95 three issue special offer will be available
only until the end of the month. The newsletters in
question are the ones that focus on: internal controls,
technology in AP, and emerging issues.
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Order Three Special Issues at a Special Price |
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| In Closing, |
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The creative approach with the license plate auction
taken by Delaware indicates-at least to me-that the
state needs every last cent it can get its hands on.
This includes its increasingly aggressive stance with
unclaimed property. If you are not currently reporting,
the seminar we are holding
in Chicago on this issue will provide you with the
information you need to get in compliance. And, if you
are reporting but suspect you are not taking advantage
of Best Practices, you won't want to miss this session
either. I look forward to seeing you there.
Thanks for listening.
Mary Schaeffer
Editorial Director
Accounts Payable Now & Tomorrow
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