AP Process Audit [Accounts Payable Best Practices]

When was the last time you audited your accounts payable process to ensure you were using best practices for accounts payable AND had incorporated the processes as they are actually being done? In this broadcast we discuss why it is so important you do this and then give you 10 questions that will help you structure your process review. Make sure you stick around until the end when we provide some insights on where to start an accounts payable process audit.

This is part of a series on accounts payable best practices. It includes short tips, short accounts payable best practice tips, to help viewers improve their accounts payable or procure-to-pay process, as well as longer broadcasts focusing on niche accounts payable topics. One short AP best practice tip will be released every day, except for Tuesday and Thursday when our longer broadcasts are released.

The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

Link to Accounts Payable Month Playlist (long and shorts) https://youtube.com/playlist?list=PLtL6rWSXZ-HdXQrxOFqXLPw5t0g7YjhVh

Link to How Invoice Processing Works in Accounts Payable (4 minutes)
https://youtu.be/a95u7vgANbg

Link to Accounts Payable Best Practice Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HcvMSJTdNs0BCQJ0Ivb4l9V

Link to Changing Invoice Best Practice Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

Link to Accounts Payable Internal Controls Playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-HdV9JIterJ-bf6TwMset_z_

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