Learn how implementing proven AP document management strategies can significantly improve your processes, efficiencies and bottom-line results!

Following a public comment period where businesses expressed concerns about the severity of penalties, the Department of Treasury Office of Foreign Assets Control issued its final rule on the Economic Sanctions Enforcement Guidelines.

The final guidelines should remind organizations of why it is so important that they not make payments to blocked entities. The following is a list of the key changes to OFAC enforcement.

Voluntary Self-Disclosure

Businesses are holding onto their cash tightly, choosing to store it in bank accounts instead of high-yield, high-risk investments.

According to an article published by CFO.com, companies have deposited 42 percent of their short-term cash into bank accounts. Last year, they deposited just 37 percent, and only 25 percent in 2008.

Implementing a process improvement in accounts payable can seem like trying to move the earth. As AP staff struggle to keep their heads above water while simultaneously fighting large workloads and inefficient processes, there is very little time or energy available to focus on process improvements.

She says that accounts payable staff members rarely receive the training necessary to become good leaders. They have become accustomed to taking the blame for any and all late or missed payments. As a result, AP employees have a tendency to be reactionary.

Gain insights and realistic approaches to bringing positive change to your payables operations. Learn helpful tips on coping with and planing for change as well as overcoming rejection of adjusting to new processes.

A key advantage that online retailers have over their brick-and-mortar counterparts may soon vanish. Congress is considering requiring merchants to collect sales tax on their online sales.

On July 1, the Main Street Fairness Act, a bill which would mandate that Internet retailers collect sales tax regardless of whether they are located in the customer’s state, was introduced to Congress.

Since the passage of the Patient Protection and Affordable Care Act of 2010 (PPAC), organizations have been wracking their brains trying to determine what exactly the legislation will mean for their 1099 processes. As it turns out, the IRS is open to suggestions.

The Internal Revenue Service is currently seeking public comment concerning the new 1099 reporting requirements outlined in the act.

"Deduction Management" special report introduces best practices for managing deductions and shortpays that will dramatically increase ROI. Click here to get your complimentary copy now!

Deduction Management: Best Practices to Improve ROI
Brought to you by The Accounts Receivable Network, The Accounts Payable Network and Hyland

Sarbanes-Oxley enforcement is going to look a little different soon, thanks to a Supreme Court decision ruling that aspects of the Public Company Accounting Oversight Board are unconstitutional.

According to a report from AccountingWeb, the U.S. Supreme Court reached its decision on June 28, 2010. The case stemmed from a 2006 lawsuit filed against the PCAOB, which enforces the 2002 Sarbanes-Oxley Act, claiming that the appointment of PCAOB officials violates the separation of powers principle.

In my last blog post, I stressed that AP document management technology is only as strong as the procure-to-pay (P2P) processes and best practices that underpin it. I also stated that getting value out of your AP technology investment meant taking a hard look at whether your organization's P2P process is an enabler or detractor of efficiency.