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560 Peoples Plaza #197 Newark DE 19702 ▪ 302 8...
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560 Peoples Plaza #197 Newark DE 19702 ▪ 302 8...
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[Checklist] Is the Foundation for Your Accounts Payable Function as Strong as it Should Be?

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Use this checklist to evaluate your own operation.

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[Checklist] Is the Foundation for Your Accounts Payable Function as Strong as it Should Be?

  1. 1. ___________________________________________________________________________ 560 Peoples Plaza #197 Newark DE 19702 ▪ 302 836 0540 ▪ www.ap-now.com Is the foundation for your accounts payable function as strong as it should be? Use this checklist to find out. Sponsored by: 1. Does your staff understand the basics? ___ Yes ___ No 2. Has there been adequate training provided for the staff? ___ Yes ___ No 3. Has there been retraining to brush up and make sure everyone is on the same page for existing processes? ___ Yes ___ No 4. Has there been training for any new processes or changes you have made? ` ___ Yes ___ No 5. Do you periodically sit and watch the processors handle invoices to make sure they are doing it the way others are? ___ Yes ___ No 6. Have appropriate internal controls been fully addressed within the department? ___ Yes ___ No 7. Do you have no more than one person handling each leg of the P2P process? ___ Yes ___ No 8. Does your segregation of duties workflow include the necessary provisions for backup when someone is out of the office? ___ Yes ___ No 9. Have you checked to make sure old accesses to your system were turned off in cases of promotions or terminations? ___ Yes ___ No 10. Does your staff understand the importance of not sharing passwords? ___ Yes ___ No 11. Do you have a policy and procedures manual for your accounts payable function? ___ Yes ___ No
  2. 2. ___________________________________________________________________________ 560 Peoples Plaza #197 Newark DE 19702 ▪ 302 836 0540 ▪ www.ap-now.com 12. Does your policy and procedures manual accurately reflect the work being done in the department? ___ Yes ___ No 13. Is your policy and procedures manual updated every time a change is made to your process? ___ Yes ___ No 14. If there have been no changes to your process in a year, do you review the manual at least annually? ___ Yes ___ No 15. Do you periodically evaluate (either formally or informally) new information related to the accounts payable procedures to see if it would enhance your operations? ___ Yes ___ No 16. Do you periodically evaluate (either formally or informally) new information related to technology affecting the accounts payable function to see if it would enhance your operations? ___ Yes ___ No 17. When evaluating the integration of a new practice, do you analyze not only how it would affect your accounts payable operation, but also other departments? ___ Yes ___ No 18. Does your process include steps that will enable you to meet all regulatory issues accurately and timely? ___ Yes ___ No 19. Do you keep up-to-date on all regulatory issues affecting accounts payable? ___ Yes ___ No 20. Do you keep your eyes open for new regulatory issues the accounts payable team needs to understand? ___ Yes ___ No 21. Do you continually look for ways to make your accounts payable process more efficient? ___ Yes ___ No 22. Do you regularly ask processors for process improvement suggestions that can be evaluated to see if they would be effective for the entire staff? ___ Yes ___ No 23. Do you keep your eyes open for new technology that might help your organization’s accounts payable process? ___ Yes ___ No 24. Do you know what new technology your competitors and peers are using? ___ Yes ___ No 25. Do you attend vendor’s webinars, watch online demos to learn what features are available in new technology that might enhance your own operations? ___ Yes ___ No 26. Have you requested a product demo from Anybill yet? ___ Yes ___ No Call 877 426 9245 E-mail info@anybill.com Clearly, the best practice response to all these questions is Yes. To listen to Mary Schaeffer explain why these issues are so important, go to: http://info.anybill.com/APNowPart3FoundationWebinar.html

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