Accounts Payable Systems: A Guide to E-Payments, Regulation, and Financial Transactions

Organizations in every industry are realizing the benefits that electronic payment processing can offer their accounts payable, including improved cash flow, reduced risk of payment fraud, greater efficiency and a reduction in costs. Whether an organization already uses electronic payments or is considering a transition to electronic payment processing, should be aware of what this latest e-trend means for its auditing process. This book will cover: AP Payments Today, Check Payments, Wire Payments, ACH Payments, Virtual Credit Card Payments, Purchasing Card usage, Fraud in all payment types, Software available in the marketplace, Solutions on the horizon, and AP payments of the future. Readers will learn:

• How and why to electronically store invoice backup
• How to implement best-practices for electronic payment approval
• How to ensure that software is compliant with accounting standards
• How to handle short payments
• How to properly populate GL and accounting codes
• How to meet 1099 requirements