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  • FREE RESOURCES
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          Finally! The trick to securing greater T&E compliance
          Benefits
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          3 costly misconceptions about biz email compromise
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          Collecting via email: 4 must-make moves in your subject line
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          5 Tough-to-spot signs that an invoice is fake
  • PREMIUM CONTENT
        • Staff management
          120 Proven Communications Tips for Today’s CFO
        • Payroll
          Handling Nonexempt Employee Pay: Stay Compliant and Avoid DOL Audits
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          T&E Best Practices: Complete Guide to Ensure Compliance
          Payroll
          Payroll Best Practices: 4 Ways to Save Time and Money
        • Staff management
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          Innovative Communications Strategies: An Email Case Study
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Vendor statments: The A/P best practice many firms don’t utilize

Jared Bilski
by Jared Bilski
December 5, 2011
  • Accounts Payable
1 minute read
  • SHARE ON

The monthly statements sent by vendors can be a tremendous resource for Accounts Payable. Problem is, most A/P pros aren’t getting all the info they can from them.

It’s only natural to review these statements from the beginning, paying close attention to any credits your company hasn’t used yet or any invoices that should be there but aren’t.

But to get the most out of your vendor statements, it’s best to start your review at the end of the statement.

Reason: This is where you’ll find the longest outstanding invoices — and these are the bills that are most likely to have late fees and interest added to them. Plus, the most recent invoices may still be in the mail, so A/P could be wasting its time combing the beginning of the statement for them.

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