We talk a lot about duplicate payments and not so much about duplicate invoices. This is unfortunate as one of the unsavory outcomes of receiving more than one copy of an invoice is a duplicate payment. Best practices for accounts payable management should now include this issue. Stick around until the end when we talk about one questionable invoice practice more than a few suppliers are using to trick you into making a duplicate payment. Once you know what it is, you’ll be able to protect against it.
This is part of a series on accounts payable best practices. It includes short tips, short accounts payable best practice tips, to help viewers improve their accounts payable or procure-to-pay process, as well as longer broadcasts focusing on niche accounts payable topics. One short AP best practice tip will be released every day, except for Tuesday and Thursday when our longer broadcasts are released.
The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.
Link to Accounts Payable Best Practice Playlist
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Link to Accounts Payable Month Playlist (long and shorts)
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Link to Changing Invoice Best Practice Playlist
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Link to Accounts Payable Internal Controls Playlist
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