Master the Invoice Process: Best Practice [AP + P2P]

The accounts payable invoice process has many moving parts. It is so easy to get one or more of the wrong – and even one tiny, what seems like an inconsequential misstep can cause havoc resulting in either a duplicate payment that is difficult, if not impossible to retrieve, a late payment, a disgruntled supplier or worse, an unhappy manager. We’ll go through the steps and the best practices you should use every step of the way so that doesn’t happen to you. Make sure you stick around until the end when we discuss one practice that will definitely make suppliers angry … and angry suppliers tend to call management and complain about you. #invoice #accountspayable #accountspayableprocess Link to Rookie Invoice Mistakes https://youtu.be/SwEl15hXI38 00:00 Introduction 00:54: Invoice Arrival 02:43 Three Way Match 06:25 Three Way Match Best Practices 09:17 Payment Options 11:50 Avoiding Duplicate Payments 20:00 Early Payment Discounts 25:35 Tracking Discrepancies 32: 45 Avoiding Errors account payable Looking for more of the most current business intelligence about + Best practices around your payment and accounts payable function + Current and new fraud protection protocols + The newest technology impacting your accounting, accounts payable, and payment functions + Career advancement +And much more!! Subscribe for more tips and insights like this: https://www.youtube.com/APNow?sub_confirmation=1 +++++++++++++++++++++++ See most recent videos at: https://www.youtube.com/@APNow/videos See all short tips at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-He5ELp9TP3wqQdHIbfIcFAB Learn more about AP Best Practices; Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9V Learn more about Internal Controls in AP; Playlist https://www.youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_ Looking for Automation insights: Playlist at: https://www.youtube.com/playlist?list=PLtL6rWSXZ-Hf_cZwQOcDZrYV4dA0oDVby Other ++++++++++++++++++++++++++++++++++ Website: https://www.ap-now.com/ Linkedin AP Now: https://www.linkedin.com/company/ap-now/ Twitter: https://twitter.com/Accountspayable More about Mary Schaeffer: https://www.linkedin.com/in/accountspayable Facebook: https://www.facebook.com/AccPayNow