Best practices for the invoice handling function are critical for those organizations concerned about their profitability. Poor practices result in excess costs, duplicate payments, increased processing expenses, fraud, and frayed vendor relationships. This course presents information you can use to identify best practice problems. Industry expert Mary S. Schaeffer explains the invoice issues, then reveals the best practices, almost best practices, and worst practices for each problem facing accounts payable dealing with invoice handling.
Upon successful completion of this course, participants will be able to:
- Identify effective invoice receipt practices
- Cite effective data entry rules for invoice processors
- Identify best practice invoice handling routines
Table of Contents
The Issue: Receipt of Invoices
The Issue: Invoice Handling—Approvals
The Issue: Invoice Data Requirements
The Issue: Verifying Invoice Data
The Issue: Invoice-Coding Standards
The Issue: Short-Paying Invoices
The Issue: Handling Unidentified Invoices
The Issue: Handling Invoices without Invoice Numbers
The Issue: Discrepant Invoices
Review Question Answers and Rationales
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