Our Sponsors
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Dear Colleague
We haven't had a contest in while, so we'll do one this
month. As with most of our contests, no skill or
knowledge is required-and that's exactly my situation
when it comes to responding to today's note from a
reader. She's looking for information on grant
reporting to the IRS. This one has left me scratching
my head. If any reader has information on this topic,
please send it to publisher@ap-now.com so I may
forward it to the requestor. If enough people are
interested, we'll post it on the blog or write an article
for the newsletter-or both.
We have a trivia question this week. What percent of
its annual revenue do you think the state of Delaware
gets from unclaimed property? The answer is below.
We've got a lot this week, including a tip that may defy
common sense at first. So, let's start with that tip.
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Tip of the Week |
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This is for everyone; not just those involved in the
international arena. (So don't skip this if you only
make domestic payments.) When was the last time
you updated your OFAC list? As many readers know,
all organizations now have to make sure they don't
inadvertently make a payment to a terrorist. As bizarre
as this may seem to those who do not do international
business, it is a fact of life for all organizations making
payments to virtually anyone.
Don't think that just because the person or entity you
are paying doesn't have a foreign-sounding name that
you are in the clear. You are not. Terrorists are not
stupid-unfortunately-and many operate using
names that would not raise the slightest suspicion.
All payments should be checked against OFAC's list
of Specially Designated Nationals (SDN). The list was
updated in March.
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For information and either the entire list or just the updates |
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The Spring Journal |
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I am really excited about Accounts Payable Now &
Tomorrow's first Spring Journal. I got the idea from
a reader when we had the "Accounts Payable Best
Seller" contest. We combined five current newsletter
articles with excerpts from five of my accounts payable
books for 24 packed pages of accounts payable
intelligence. This will be sent to Accounts Payable
Now & Tomorrow's paid subscribers as their May
issue. It will also be sold for $39.95. Miraculously, this
idea was conceived before any of the articles were
written-so four of the five articles each have five tips
or best practices related to the topic. And, of course, it
will serve also as the May issue, the fifth month.
We'll have more details next week, along with a link
and an order form. But, if you wish, we are taking pre-
orders. Send a note to publisher@ap-now.com with
the words "Spring Journal" in the subject line and we
will send you the flyer with the details and an order
form. And yes, there is still time to start a subscription
and receive the Spring Journal as part of our family-
at no additional cost.
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Subscribe to Accounts Payable Now & Tomorrow |
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The Thank-Heavens-Tax-Time-Has-Passed Contest |
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It would almost be irreverent if we let this day slip by
unnoticed. So, we are going to give away a CD from
one of our tax-related Webinars. Which one depends
on which receives the most votes from our readers.
So, to participate, send an email to publisher@ap-
now.com with the name of one of the following in the
subject line. We¡¯ll pick a winner from all participants
and send them the CD of their choice¡ªwhich will be
the one they voted for. Please, only one vote per
reader. Here are your choices:
- 1099 Time (Prize: Learn How to Use the TIN
- Unclaimed Property (Prize: What the California UP
- Sales and Use Tax (Prize: Use Tax Exemption
- Not Interested in Taxes (Prize: AP Best Practices
Please enter before April 30 when our
winner will be
selected.
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Date Change: Internal Controls Webinar |
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The speaker for our Internal Controls webinar is
having emergency surgery. While the surgery is minor
she wants to make sure she is 100% back to her old
very-knowledgeable and informative self. The Webinar
has been moved to April 29. All paid attendees have
been notified and given their options.
So, if you had not signed up or the date wasn't good
for you, there is still time to register.
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For additional information or to register for the Internal Controls Webinar |
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Unclaimed Property Trivia |
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I had a note from Will Yancey, one of our speakers at
the Chicago Unclaimed Property seminar on April
25th. In it, he provided an update on the revenue the
state of Delaware derives from unclaimed property.
Here are the numbers both actual and projected for
2007, 2008 and 2009.
- FY 2007 actual $364.9 million, 11.09% of state
net
- FY 2008 estimated $369.0 million, 11.35% of
state
- FY 2009 estimated $380.0 million, 11.43% of
state
As you can see, unclaimed property makes a serious
contribution to Delaware's economy. The same is
true
in a number of other states. Consumer advocates
have also taken to publicizing instructions on how to
get your money back. Yet, as you can see in the
numbers above, the states are not cutting back on
their income estimates from unclaimed
property.
That's why we believe it is crucial that all readers
report unclaimed property correctly. It is also why we
put together this seminar - where you can earn 8
NASBA CPEs. There is still a few days left to register.
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For additional information or to register for the Chicago UP seminar |
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European P2P Event |
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European Purchase-to-Pay Week
16th-18th June, Brussels, Belgium
18th-20th June, London, United Kingdom
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For additional information |
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In Closing |
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Thanks for listening,
Mary Schaeffer
Editorial Director
Accounts Payable Now & Tomorrow
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