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How to Effectively Audit Accounts Payable

MineralTree

Accounts payable is a foundational function that ensures organizations maintain accurate invoices, payments, and vendor relationships, while making bill payments on time. However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges.

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Optimizing your accounts payable workflow process

ThomsonReuters

By following these accounts payable best practices, your business can establish controls, prioritize invoices, eliminate fraud, strengthen vendor/supplier relationships, eliminate paper-based processes, and easily reconcile accounts. That doesn’t leave much time for building new business or offering more high-value services.