Accounts Payable Best Practices

Mary S. Schaeffer, "Accounts Payable Best Practices"
Wiley | 2004 | ISBN: 0471636959 | 256 pages | PDF | 1,9 MB

This handy resource provides documented strategies and tactics for accounts payable employed by highly admired companies. Because firms arent always in a position to employ best practices, this practical book presents “Almost Best Practices,” as well as “Worst Practices,” which often leave a firm open to criticism and loss.

From the Inside Flap
The fundamental structure of the accounts payable function reflects a company’s financial integrity, yet so many payable operations in companies aren’t running at peak efficiency. Overlooking only a few weak accounts payable operations can adversely affect a company’s bottom line in a number of ways, from incurring costs to resolve discrepancies and fix errors to receiving fines for failing to comply with escheat or sales and tax rules.

Accounts Payable Best Practices provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state-of-the-art levels. Documented strategies and tactics employed by highly admired companies are presented--both successful and unsuccessful--to illustrate the real-world functionality of each process and approach.

Every chapter features a brief explanation of the process or topic being addressed to accompany the discussion of best practices. However, for a variety of reasons, some firms aren’t in a position to employ best practices. To bridge the gap between the latest theory and practice, Accounts Payable Best Practices identifies "Almost Best Practices." These special sections consider that not all practices will work at every company, and they offer successful alternatives to best practices. Also included are discussions on practices that absolutely should not be used, but may be practiced at other companies.

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