Weekly podcast providing fraud information and training to protect the vendor master file. Giving a voice to Accounts Payable Vendor teams to tell their vendor story.Read more »
Weekly podcast providing fraud information and training to protect the vendor master file. Giving a voice to Accounts Payable Vendor teams to tell their vendor story.Read Less
In some ERPs like PeopleSoft and SAP, vendor addresses can be validated real-time, geocodes and tax code identifiers can be added to the vendor record. If you don’t use a system that has that capability, or even if you do, it does not standardize the address. This can result in a vendor master file where the addresses are based on which team member entered them such as “P.O. Box” vs “PO Box” or the non-standardized “Suite 500” being on the second address line vs “STE 500” on the first line with the street address. Errors in addresses can lead to delayed receipt of check payments, or the return of checks which can lead to uncashed checks and the task of unclaimed property. It can also lead to the return of 1099/1042 forms.
Time to Scrub the Addresses in the Vendor Master File!
Check out my website www.debrarrichardson.com if you need help cleaning your vendor master file or implementing authentication, internal controls and best practices to it from fraud.
Subscribe today to be entered in the subscriber only monthly drawing to win a free Putting the AP in hAPpy Coffee Mug.
Links mentioned in the podcast:
· AUTHENTICATION. VALIDATION. MANAGEMENT. TM eGuide or Toolkit
· TINCheck – http://www.tincheck.com
· Melissa Data – http://www.melissa.com
· Giact Systems - http://www.giact.com/
· SmartyStreets - https://smartystreets.com/
· More ideas? Email me at debra@debrarrichardson.com
#stayhappy #accountspayable #vendormasterfile #addressscrub
Music Credit: www.purple-planet.com