APChannel Newsletter

The AP Channel News

March 19, 2008

In this Issue
Editor's Note International Payments Confessions of an E-Learning Director Continuing Education Just for Fun!

• Special Feature •

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As the World Shrinks, AP Grows

It's a great big world out there...at least it used to be. Every year the world shrinks a little bit as new technologies allow people around the globe to communicate effortlessly.

This shrinking world has increased the scope of many organizations' accounts payable departments. International payments and payments to nonresident aliens are becoming more common, and TAPC is here to help make them easier.

Patrick Harbin – Editor

International Payments

AP departments have plenty of regulations and policies to remember when paying vendors. Payment methods, discount terms, and reporting requirements are just a few examples. When non-U.S. payees are brought into the mix, things can get really interesting.

Before implementing an international payment program, AP departments should ask their banks some the following questions to better understand their options:

What are the deadlines for receiving payment instructions processing, settling, and clearing transactions?
How is the Foreign Exchange Currency Converter applied and at what rates?
What currencies are supported in your multi-currency accounts?

Additional information about international payments can be found in the TAPC article International Payments. Also, for a better understanding of making payments to nonresident aliens, be sure to sign up for TAPN's upcoming live audio conference, Error Free Reporting of Payments to Non-U.S. Payees, featuring Denise Johnson of Balance Consulting.

Confessions of an E-Learning Director

Susan Bova meets a lot of interesting people in her work as Financial Operations Network's Director of E-learning. Having spoken with AP departments of all sizes, Susan has a unique insight into the accounts payable process. Check out Susan's Blog for her thoughts on ditching paper.

Just for Fun!

While many people agree that helping the environment is a noble goal, most of us aren't interested in chucking all of our electrical appliances out the window and living like Ed Begley Jr.

For people interested in helping out but not ready trade your car for a horse and buggy, Reader's Digest has put together a list of 15 Ways to be an Armchair Environmentalist. Finally, a type of conservation that won't drive your family crazy.

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