How To Reconcile Supplier Statements

blogWhy we reconcile vendor statements was discussed in my previous article. While the benefits may be appealing, it can be an onerous task to match thousands of supplier invoices and other documents every month. Manual matching of statements may involve much printing and ticking, or system downloads and manipulation to produce many disparate Excel spreadsheets.

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Filed under: Conference News, Finance, Reconcile

SAP-Centric Financials TV

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Welcome to SAP-Centric Financials TV! As we embark on launching our inaugural program next February, we’re excited to also launch TV, which will feature loads of exciting videos from industry thought leaders offering insight and advice on some of today’s most pressing finance topics

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Filed under: TV

Why Reconcile Vendor Statements?

imagesVendor payments account for the largest cash outflow in most organizations.  One of the best ways for accounts payable managers to sleep easily at night is reconciliation of vendor statements. While the benefits are numerous and discussed below, this task is often overlooked as it can be time consuming and tedious. An effective process for reconciling vendors must therefore be used.

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Filed under: Conference News, Finance, Reconcile

Payment Choices & Hidden Implications for Working Capital

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Welcome to the SAP-Centric Financials blog! As we embark on launching our inaugural program next February, we’re excited to also launch our blog series, featuring a number of industry thought leaders offering insight and advice on some of today’s most pressing finance topics.

Have you considered the type of payment received and subsequent cash application process could either increase or decrease your DSO? How is this possible?

Historically, checks were used so companies to increase float by several days due to mail processing time. Checks continue to be used for practical reasons often due to remittance limitations on electronic formats. ACH, wires, and credit card payments all have their own remittance nuances. The classical banking system was optimized for a system that utilized checks heavily.  Its transformation to electronic payment formats is underway.

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Filed under: Conference News, Finance
 
 

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