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Governments Face New Reporting Requirements

Government contractor payments are about to get more complex, thanks to new reporting and withholding requirements taking effect in 2012. The Tax Increase Prevention and Reconci... [Read more]

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Featured Blog

Patrick Harbin, Editor, The AP Channel

Get AP Out of the Dark Ages

Technology allows us to have real-time communication around the world, purchase anything we can think of without leaving our computer chairs, and store an essentially limitless amo... [Read more]

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Jail Time for Unclaimed Property Fraudsters

Submitted by administrator on Tue, 06/22/2010 - 12:12.

Two men managed to steal several thousand dollars from the State of Pennsylvania by filing fraudulent claims for unclaimed property.

Stefan Arteaga-Pizenbauer, 37, of Levittown, PA., and Luis Maura, 26, of Hamilton, were both recently sentenced to 364 days in the county jail and three years of probation, respectively, for stealing unclaimed funds from the state in 2006.

AP Clerk Pleads Guilty in $400K Credit Card Fraud

Submitted by pharbin on Tue, 06/15/2010 - 08:59.

An “unsophisticated” credit card fraud yielded nearly half-a-million dollars in ill-gotten gains for one accounts payable clerk.

According to an article posted on Canada.com, an AP clerk for Vancouver Island InsuranceCentres perpetrated a credit card billing scheme against the company from 2003 to 2006. During that time, she stole $437,544.

Fate of PCAOB to be Decided

Submitted by pharbin on Mon, 06/07/2010 - 14:59.

Those waiting for the answer to whether the Sarbanes-Oxley Act is unconstitutional may not have to wait long. The U.S. Supreme Court is expected to soon reveal its decision, which could significantly impact U.S. accounts payable departments.

According to a report published by the Journal of Accountancy, the U.S. Supreme Court will likely announce its decision in the case, Free Enterprise Fund v. Public Company Accounting Oversight Board, before the end of its current session on June 28.

New On-Demand Presentation: AP Automation at Border States Electric: Our Implementation Goals, Challenges and Lessons Learned

Submitted by administrator on Wed, 05/26/2010 - 14:46.

If you would like to understand how automation and workflow can improve your AP processes and reduce costs, don't miss this no-cost audio conference where Border States Electric will share how they have implemented multiple technologies that improved productivity and profitability.

Illinois Can Earn Interest on Unclaimed Property

Submitted by pharbin on Tue, 05/25/2010 - 08:48.

Unclaimed property acts as a significant source of short-term cash for state governments. While seeking the property’s rightful owner, states are free to invest it and even earn interest. How states handle this interest is an issue that recently found its way to the Illinois State Supreme Court.

While some states – such as New Jersey – pay interest to property owners when the property is returned, Illinois returns just the property. Any interest earned from investing the funds remains with the state.

New On-Demand Presentation: How Crown Equipment Improved Cash Flow in AP

Submitted by administrator on Thu, 05/20/2010 - 18:11.

Stop the leaks in your AP department by automating manual processes and eliminating paper.

e-Invoicing Vs. e-Billing

Submitted by pharbin on Tue, 05/18/2010 - 09:48.

e-Invoicing

The terms electronic invoicing and electronic billing are often tossed around interchangeably. Technology users, solution providers, and industry experts alike all seem to be confused. E-billing and e-invoicing actually describe slightly different processes.

According to a recent entry posted on finextra.com, e-invoicing focuses on the business-to-business market while e-billing has more to do with the business-to-consumer space.

Free Special Report: Improve Working Capital & Cash Flow with End-to-End Automation

Submitted by administrator on Wed, 05/12/2010 - 18:48.

“Improve Working Capital & Cash Flow with End-to-End Automation” special report with a case study, focuses on how transitioning to automated processes can dramatically cut costs and contribute to improved cash flow, and much more! Get your complimentary copy now!

Don’t Overlook the Simple Solution — Imaging for Small Shops

Submitted by pharbin on Tue, 05/11/2010 - 09:14.

Very small AP departments might consider a simple solution for managing invoices: that old workhorse, the Portable Document Format (PDF) file. Adobe’s Acrobat Messenger lets AP departments transform paper documents into electronic files and send them at Internet speed.

With three simple steps, office workers can

1. scan invoices or documents;
2. preview and, if necessary, modify documents;
3. send documents to multiple destinations.

AP Clerk Accused of $300K Theft

Submitted by pharbin on Tue, 05/04/2010 - 12:20.

A former accounts payable clerk already under investigation for embezzlement has recently been arrested once again. She is now charged with stealing more than $300,000 from her former employer.

According to an article printed in The Davidson News, the clerk was first charged with four counts of embezzlement back in February. Last week, she was arrested again when additional fraudulent transactions were discovered.