Christine H. Doxey - The New Accounts Payable Toolkit
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Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Asia, and Australia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers' professional and personal knowledge and understanding.
The Wiley Corporate F&A series provides information, tools, and insights to corporate professionals responsible for issues affecting the profitability of their company, from accounting and finance to internal controls and performance management.
Christine H. Doxey
Copyright 2021 by John Wiley & Sons, Inc. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at www.wiley.com/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.
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Library of Congress Cataloging-in-Publication Data
Names: Doxey, Christine H., 1955- author. | John Wiley & Sons, Inc., publisher.
Title: The new accounts payable toolkit / Christine H. Doxey.
Description: Hoboken, New Jersey : Wiley, [2021]
Identifiers: LCCN 2020055859 (print) | LCCN 2020055860 (ebook) | ISBN 9781119700500 (hardback) | ISBN 9781119700531 (adobe pdf) | ISBN 9781119700524 (epub)
Subjects: LCSH: Accounts payable. | Invoices.
Classification: LCC HF5681.A27 D69 2021 (print) | LCC HF5681.A27 (ebook) | DDC 658.15/26dc23
LC record available at https://lccn.loc.gov/2020055859
LC ebook record available at https://lccn.loc.gov/2020055860
Cover Design: Wiley
Cover Image: yewkeo/Getty Images
Introduction
Welcome to The New Accounts Payable Toolkit! This toolkit is a guide for everything AP. As we look at all the processes that impact AP and procure to pay (P2P), the author will present best practices and current trends. As we drill down into the pertinent process details, an overview will be provided, followed by a process flow diagram with additional insights. Standards of internal controls are also presented for the AP and P2P processes explored in this toolkit.
About This Toolkit
The New AP Toolkit is an excellent reference book for anyone new to the AP or P2P space. It can be used to evaluate current processes and identify improvements. This book also serves as a reference for AP managers and directors, P2P managers and directors, shared services managers and directors, external and internal auditors, internal control professionals, CPOs, controllers, and CFOs. Here's how the book is organized.
How This Toolkit Is Organized | |||
Section Number | Title | Chapter Number | Chapters |
1 | Introduction | About This Toolkit | |
2 | The New AP Department | The New AP Department | |
Automating the AP Process | |||
3 | Dissecting the P2P Process | What is the P2P Process? | |
Transforming the P2P Process | |||
Structuring the AP Process | |||
4 | How Procurement and Receiving Impact AP | Supplier Selection and Management | |
Contract Management | |||
Purchasing and Ordering | |||
Receiving | |||
5 | A Laser Focus on AP | The Supplier Master File | |
Invoice Processing | |||
P-Cards | |||
Travel and Entertainment | |||
The Payment Process | |||
Accounting, Reconciliation Processes, Self-Audit Tools, and Internal Controls | |||
Customer Service | |||
Reporting, Analytics, and Benchmarking | |||
6 | Other AP Business Processes | Supply Chain Financing (SCF) | |
Escheatment | |||
Sales and Use Tax | |||
Independent Contracts and the 1099 Process | |||
Business Continuity Planning | |||
7 | Addendum | Accounts Payable: Quarterly Controls Self-Assessment Questionnaire | |
Glossary |
As an additional bonus, AP Tools are provided within each applicable section. Each AP Tool is numbered for your reference and cross-referenced to a chapter. Every AP Tool includes an introduction titled About This Tool which serves as an overview of the tool. Each type of tool is classified as a checklist, template, or best practice.
This index provides the listing of all the tools for controllers that are included in this book and provides a quick glance of an inventory of all the helpful tools provided. The index is organized by: (1) Section Number, (2) Section Title, (3) Chapter Number, (4) Chapter Title, and (5) AP Tool Title and Number.
Index of AP Tools | ||||
(1) Section Number | (2) Section Title | (3) Chapter Number | (4) Chapter Title |
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