AP Journal Online - American Accounts Payable Association

Accounts Payable Spotlight: Chris Doxey

Reflections From All Over the Balance Sheet

Occasionally we explore the background, career path, and vision of a leader in accounts payable. In this issue, we feature Chris Doxey, who has volunteered to chair the Strategic Accounts Payable Leadership Task Force (SAPLTF) for the American Accounts Payable Association. more››

Purchase to Payment Optimization: Automating Vendor Invoice Posting

Opportunities exist within the accounts payable process to make significant strides towards process optimization and the resultant cost savings. As an organization evolves, its A/P process can become complex, with constantly growing intricacy as new vendors and internal controls are added. With expansion, inefficiencies like the manual entry of data become more pronounced. more››

The Case for Determining Transaction Tax Liability on the A/P Side—Part III

In this article, we will examine Evaluated Receipt Settlement (ERS), an electronic process by which the purchaser calculates tax as if they were the vendor/supplier issuing the invoice. We will also discuss the benefits using transaction tax software on the purchase side. more››

The Case for Determining Transaction Tax Liability on the A/P Side—Part II

In this article, we examine several techniques to verify tax liability on the purchase side that have broader applications than direct pay permits. Our review begins with the manual process of invoice verification, and moves to the more automated process of tax tolerance processing. We will also discuss how a transaction tax calculation engine may help in implementing the necessary controls to ensure you never pay more tax than absolutely required. more››

The Case for Determining Transaction Tax Liability on the A/P Side—Part I

Even though it’s often overlooked, the financial impact on an organization from overpaying sales and use tax liability can be substantial. However, it’s possible to take steps from an accounts payable perspective to limit that exposure. By implementing a system that verifies tax liabilities, companies can potentially save millions of dollars and minimize audit exposure by ensuring that they only pay as much tax as they owe. more››

GAO Examines Bush Administration Proposal to Tighten Third-Party Reporting—Part II

In preparing a November 2007 report for the Senate Finance Committee, the Government Accountability Office conducted case studies which revealed that existing information return costs are relatively low. This finding is likely to impact proposals to increase information reporting and revenue to the IRS. This article continues from Part I, highlighting additional proposals discussed in the report. more››

GAO Examines Bush Administration Proposal to Tighten Third-Party Reporting—Part I

In this series of articles, Anne Lewis, Esq., reviews a 71-page report prepared for the Senate Finance Committee on “Costs and Uses of Third-Party Information Returns” and findings that were largely based on nine case-study analyses, structured interviews, and additional research. more>>

Automating Your Travel & Entertainment Expense Reimbursements

Business travelers are in the skies or on the roads right now. At one end of the spectrum is the well-traveled employee who keeps impeccable travel expense records, at the other end, however, is the business traveler who returns with crumpled receipts stuffed in their pockets, or even no receipts at all. However often they travel, or how well they’re organized, they’re spending company money and it has to be sorted out: how much they spent, where they spent it, and why they spent it. Your company has to manage these expenses in light of internal company policies and external government compliance regulations. more>>

IN THE NEWS

IRS Increases Business Mileage Rate to 58.5 Cents on July 1

Citing "recent gasoline price increases," the IRS has increased the standard business mileage rate from 50.5 cents to 58.5 cents a mile for all business miles driven between July 1 and December 31, 2008. The rate for deductible medical or moving expenses is increased from 19 cents to 27 cents a mile. Note: The rate for providing services for charitable organizations is set by law, not by the IRS, and remains at 14 cents a mile. Read the news release from IRS.

Welcome Aboard!

APJournalOnline is an online publishing forum where Accounts Payable professionals and their advisers share the most up-to-date news, emerging trends, best practices and professional standards available in the field today. APJournalOnline articles and columns focus on practical solutions to ongoing challenges in the field in an easy-to-read and easy-to-implement format. At the same time, APJournalOnline is an advocate to promote Accounts Payable's place as a mission-critical function in any well-run organization. If you're serious about your career, you're a regular reader of APJournalOnline.

PUBLISHED BY
American Accounts Payable Association

MANAGING EDITOR
Frank J. Mendelson

EDITORIAL ADVISORS
Marcia L. Aamodt
Director of HRIS/Payroll Serv.
Abercrombie & Fitch

Philip Cavoretto
Director of Disbursement
BJC Health System

Christine A. Chicalace, CPP
Accounts Payable/Payroll Manager
Lightspeed Online Research, Inc.

Christine H. Doxey, CAPP, CCSA
Vice President, Global Account Management
APEX Analytix

Daniel B. Dycus, CPP
Manager, Disbursement Accounting
Intelsat

Carl A. Imhof
Sr. Tax Accountant
Tyson Foods, Inc.

Karen Salemi, FLMI, CPP
North American Payroll Manager
IBM

Sandy Tomasko, CPP
Payroll & Accounts Payable Manager
Day-Timers, Inc.

Sarona-Lee Wilde, CPP
Payroll Manager
Portland Public Schools

Web publishing services provided with assistance from Publishing Resources, Inc.

Coming Up...

Form 1042-S: What You Need to Know to Comply with IRS Reporting
Requirements for Payments to Nonresident Aliens
How to Create an Effective TIN Solicitation Program & Avoid All Pitfalls.
Unclaimed Property Basics: A Best Practice Approach
Combined State & Federal Information Reporting