What Is a Purchase Order and How Does It Work?
Many businesses frequently order supplies from merchants and other third-party vendors. Typically, a business representative must fill out a purchase order to receive items and goods from the specified vendor. There is often considerable confusion surrounding how a purchase order works, what it is, and how to complete it. To better assist you and your […]
How to Void a Check in QuickBooks: A Step-by-Step Guide
There are several reasons why a company’s accounts payable department has checks and balances in place. One of the most important ones is to avoid mistakes. Another reason is to avoid sending out duplicate payments or losing checks. This department has one main responsibility. It must ensure that the correct payments are sent out in […]
How to Measure Accounts Payable Performance: Top AP KPIs
If you cannot measure something, then you cannot judge how well you are meeting your goals. When evaluating your accounts payable metrics, refer to the business goals to determine your progress toward achieving them. This mindset can be applied to accounts payable KPI performances because the process consists of multiple moving steps and just as […]
What Is a Class Action Settlement and How Much Can You Get?
Have you received a notice via email or postcard letting you know you’re part of a class action lawsuit? This type of notification is sent to several people, who may number in the thousands, who have been adversely affected by an organization or a person. Rather than filing individual cases, a person or group uses […]
What Are the Top Benefits of Outsourcing Payroll?
At your company, there are several tasks that must be accomplished like clockwork. Payroll is one of them. Your employees trust you. Their assumption is that they will receive payment for their services on time, every time. While this can seem overwhelming, keep in mind that any department in your company can be outsourced. Different […]
How to Join a Class Action Lawsuit: Should You?
Periodically, you may receive a postcard in the mail that tells you that you are eligible for money in a lawsuit. You may dismiss it, thinking it is too good to be true. However, this isn’t always the best approach. The postcard is essentially telling you that you can join a class action lawsuit and receive […]
Business & Personal Blank Fillable Check Templates You Can Print
Whether you have a business or have your own personal checking account, there may be a time when you need a check. Enterprising companies are usually well-stocked because they have a large accounts payable department, but even they can run out of checks. There might be special situations when you need a different type of […]
What Is Magnetic Ink Character Recognition (MICR)?
You may have heard of MICR in the context of checks. However, you might still be wondering, what does MICR mean? The Magnetic Ink Character Recognition (MICR) line is a technology that utilizes ink-based features to prevent check fraud. It is used in a variety of ways, but ultimately, it is one of many factors […]
What Is BPO? Business Process Outsourcing Explained
Running a business involves numerous moving parts. There are several operational processes required to keep things running smoothly every day. It may be too much for you to manage on your own. There are certain things that you must handle internally, but there are other things that could be managed by a third party to […]
What is AP Automation? Should You Automate Accounts Payable?
For any business to succeed, having an efficient and accurate accounting system is very important. Those that have good accounting functions in place will consistently know their current cash flow position, stay current with vendors, and have an easier time remaining profitable during challenging times. To help your business stay organized, consider automating accounts payable […]