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Dear Colleague
Somehow, September always feels like the beginning
of the year to me. A holdover from school days maybe
Whatever the reason, we've spent the summer
working madly getting a lot of nifty stuff ready for our
readers. Our intrepid managing editor insisted we add
a CD page to the Web site so you can easily order
CDs of both present and past events. You can see the
fine job she did at http://ap-now.com/apcds.html
And, as mentioned last week, our "Demise of the Paper Invoice" white paper
has been published. Let's get started with the
inevitable.
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It's That Time of the Year |
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Fall brings with it two ugly tasks for most
professionals involved in the accounts payable world.
The first is B-Notices, those awful notices from the
IRS telling you the name/TIN match on your 1099 did
not match the IRS records. As you probably know,
there are precise rules on how you have to respond to
these notices, and the rules change depending on
whether it is the first B-Notice or a subsequent one.
The first step when receiving a B-Notice is to check
your records to make sure you did not make an error
when preparing the 1099. Unfortunately, that's rarely
the problem.
In a worst-case scenario, which happens more
frequently than anyone would like, there are the times
when due to a lack of response from your supplier you
may have to start withholding - now that's a real treat.
This is one of those intricate IRS issues you don't
want to get wrong. That's why we've invited Cyrus
Daftry back to share his considerable expertise on this
issue. Please join us on Monday, September 22 as he
explains the ins and outs of B-Notices.
By the way, the best defense against B-Notices is to
have an iron-clad best practice TIN solicitation
process. Our W-9 Basics CD
will provide you with information on how to do that.
And, while we're talking about best practices, let's not
overlook the classification issue. The IRS is taking a
long hard look at the way organizations of all sorts are
classifying their independent contractors. So
we've invited Greta Hicks to present a special Webinar
on this issue. Of course, CDs will be available two
weeks after her October 16th presentation.
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For more information or to register for the B-Notice Webinar |
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A Sensitive Issue |
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B-Notices aren't the only regulatory issue we face in
the fall. Roughly three-quarters of all the states have
fall reporting deadlines for unclaimed property. What
concerns me for our readers is that most experts
estimate that less than one-third of those who are
supposed to report actually do. While I'm sure our
readers have a better track record, it is still an issue to
be concerned about. And what's more, from talking to
readers and professionals in the field we realize that
many who are complying are actually not fully
compliant. They may report for one property type but
not for another.
We also understand it's a sensitive issue for some
and as such we don't give out name badges at our
unclaimed property seminars. While attendees are
free to exchange business cards-if both parties
want-we provide an atmosphere where anonymity is
supported. No name badges and we won't go around
the room asking you to share your name and/or
company.
There's still time to sign up for our events in Cincinnati
on October 3 and Los Angeles on September 26.
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To register for or get additional information about Unclaimed Property Intensive Best Practices seminars |
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Yes, Virginia, AP Now is Celebrating AP Week |
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If you haven't already entered our AP Celebration
Week contest-where everyone is a winner, please
refer to the August 25 issue or drop me a note.
Speaking of dropping me a note, please do not
respond to this e-mail to write me. Those e-mails get
mixed in with the Out of the Office responses and I
sometimes miss them. Use marys@ap-now.com to
write me personally.
While we've got our AP celebration special (details
link below) we'd like to go on the record also
recommending something more personal for the
staff - a small present, a staff lunch, a donuts and
bagel surprise breakfast, gift certificates etc. If the
choice comes down to spending the funds on AP Now
products or giving everyone a gift certificate, we
recommend the latter (sigh). Of course, we're hoping
it doesn't come down to that.
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Order the AP Appreciation Week Celebration Set-it's a bargain! |
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Duplicate Payments-Yech |
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One of the concepts related to duplicate payments,
one that has all but disappeared, is the notion of an
original invoice. Only a few short years ago
organizations had a safeguard against duplicate
payments by insisting they would pay only from an
original invoice. That safety net is gone. This fact was
brought home to us in resounding tones when we
brought in the mail recently. There sat two original
invoices from one of our vendors. They were identical
and both looked great. What really dramatized the
point for us is that they came in the same mail!
With new technology, laser printers, PDF files and the
like, you can have as many duplicate payments as you
like. This is just one of a myriad of changes that
prompted us to declare October as Obliterate
Duplicate Payment month. We're working on an
online resource center with articles, diagnostic tools,
and resource links to help with the duplicate payment
battle in your shop. It will be completely free of charge.
It is set to launch October 1 but if it's ready earlier we'll
let you know.
It's this concern that led us to schedule four Webinars
in October, all focusing on different aspects of
duplicate payment annihilation. I'll kick off the first
session on October 10 talking about tactics you can
use to Prevent Duplicate Payments. The following
week, Rich Lanza will show you how to use Excel to
find duplicate payments. Then he and I will join forces
in the third session to provide insights on hiring a
duplicate payment audit firm. I'll close off the
extravaganza on Halloween with a 25-step, low-tech
plan you can use to find your duplicates.
Each of the sessions is our usual low $159-or you
can attend all four for the price of three, $477. CDs are
available at the same pricing-and if you want to go
hog-wild, attend all the sessions and get the CDs for
only $777.
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Information about the Duplicate Payment Obliteration Webinars |
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Top Clicks from Last Week |
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This e-zine readership is certainly a group interested
in furthering their skills. There was interest in both the
CFO article containing advanced Excel tips as well as
the BBC site offering foreign language online courses.
Here are last week's top clicks (not including job
listings).
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AP Career Center |
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Career Tip: While we prefer the title AP
associate or AP processor to the clerk title, we are
cognizant that many organizations use the latter.
Hence, whether looking for a job or looking for a
suitable candidate to fill your own position, don't forget
to search for AP clerks. A number of the positions I
reviewed asked for a Bachelors degree for the AP
clerk position.
Jobs Listings
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In Closing |
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How's this for a kick-in-the-you-know-what? As I write
this, Amazon has sold out of my new book, Fraud in
Accounts Payable: How to Prevent It. Hopefully, they'll
get more copies in quickly. If you want the book, you
can order it directly from the publisher at a 15%
discount, by clicking here-they still have copies
available. And, if you like the book, we certainly would
appreciate a review on Amazon. If you do place a
review, please drop me a line - we have a small thank
you gift for you.
Until next week, thanks for listening.
Mary Schaeffer
Accounts Payable Now & Tomorrow, a
CRYSTALLUS,
Inc. publication
CRYSTALLUS, Inc, publisher of Accounts Payable
Now & Tomorrow, is a woman-owned business and
is registered as a Federal Government CCR vendor.
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