New Accounts Payable Toolkit

The New Accounts Payable Toolkit is a comprehensive guide to the accounts payable process, covering all aspects from contract establishment to invoice payment. It provides best practices, tools, and internal controls to ensure regulatory compliance and protect company assets. The toolkit also explores new digital technologies such as eInvoicing, ePayment, RPA, AI, Machine Learning, and eAccounting to streamline and modernize systems and processes. Ideal for CFOs, finance managers, and controllers, it offers a unique and powerful approach to accounts payable.

Format: Hardback
Length: 496 pages
Publication date: 24 May 2021
Publisher: John Wiley & Sons Inc

The New Accounts Payable Toolkit is a comprehensive guide for businesses looking to optimize their accounts payable process. Authored by accomplished entrepreneur, consultant, and finance expert Christine H. Doxey, the toolkit offers a unique and powerful approach to accounts payable, focusing on the impact of automation in the Procure to Pay (P2P) process.

The toolkit covers all aspects of the accounts payable process, from contract establishment and purchase order to supplier validation, invoice processing and payment, accounting, and fiscal close. It provides valuable insights into the key metrics and analytics required for effective accounts payable management, and offers best practices, tools, and internal controls to safeguard a company's cash and assets.

One of the key features of the toolkit is its emphasis on supplier validation. It guides businesses on how to ensure that suppliers are correctly validated in the supplier master file, which is essential for maintaining regulatory compliance. The toolkit also offers tools to create the foundation required for current internal controls and compliance, ensuring that suppliers are properly accounted for and invoices are paid accurately.

To avoid fraudulent or inaccurate invoices, the toolkit provides guidance on how to identify and prevent payment of such invoices. It also emphasizes the importance of avoiding duplicate payments to suppliers, ensuring that all invoices are properly accounted for to ensure an accurate fiscal close.

In addition to its focus on internal controls and compliance, the toolkit also keeps businesses up to date with the latest trends in the accounts payable process, including eInvoicing, ePayment, Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning, and eAccounting. By leveraging these digital developments, businesses can streamline and modernize their systems and processes, taking advantage of new opportunities for efficiency and growth.

The New Accounts Payable Toolkit is designed for controllers, chief financial officers, and finance managers, but it is also valuable for students and professionals in the field of accounting and finance. It provides a comprehensive understanding of the accounts payable process, and offers practical insights and tools that can be applied in real-world scenarios.

Overall, the New Accounts Payable Toolkit is a must-have resource for businesses looking to optimize their accounts payable process and stay ahead of the curve in the ever-changing world of finance. With its comprehensive coverage, practical insights, and innovative tools, it provides the foundation for effective accounts payable management and helps businesses achieve their financial goals.

Weight: 720g
Dimension: 164 x 236 x 45 (mm)
ISBN-13: 9781119700500