Accounts Payable Coffee Break: Tips from Mary Schaeffer, CPA

Mary Schaeffer, CPA, is a nationally recognized expert in accounts payable (AP) automation. She has over 20 years of experience in the field, and she has helped hundreds of companies improve their AP processes.

Accounts Payable Coffee Break #3

by Mary S. Schaeffer

4 out of 5

Language	:	English
File size	:	84 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	16 pages
Lending	:	Enabled

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In this article, Mary will share her top tips for managing AP more efficiently. She will cover topics such as:

• Streamlining your AP processes
• Improving accuracy
• Reducing costs
• Choosing the right AP automation software

Streamlining Your AP Processes

The first step to improving your AP efficiency is to streamline your processes. This means taking a close look at your current processes and identifying any areas that can be improved.

Some common areas for improvement include:

• Automating manual tasks
• Consolidating invoices
• Improving communication with vendors
• Establishing clear approval processes

By streamlining your AP processes, you can save time and money, and improve accuracy.

Improving Accuracy

Accuracy is critical in AP. Inaccurate data can lead to overpayments, late payments, and other problems.

There are a number of things you can do to improve AP accuracy, including:

• Using a centralized system for managing AP
• Automating data entry
• Implementing a robust approval process
• Training your staff on proper AP procedures

By following these tips, you can improve AP accuracy and reduce the risk of errors.

Reducing Costs

AP automation can help you reduce costs in a number of ways, including:

• Reducing labor costs
• Improving efficiency
• Reducing errors
• Taking advantage of early payment discounts

By automating your AP processes, you can free up your staff to focus on more strategic tasks, improve efficiency, and reduce costs.

Choosing the Right AP Automation Software

If you are considering AP automation, it is important to choose the right software for your needs.

Here are some factors to consider when choosing AP automation software:

• The size of your company
• The volume of your AP transactions
• Your budget
• Your IT resources

By taking the time to choose the right AP automation software, you can ensure that you get the most out of your investment.

By following these tips, you can improve your AP efficiency, accuracy, and cost-effectiveness. AP automation can help you streamline your processes, improve accuracy, reduce costs, and take advantage of early payment discounts.

If you are considering AP automation, I encourage you to do your research and choose the right software for your needs. AP automation can be a valuable tool for any business, and it can help you improve your bottom line.

Thank you for reading!

Mary Schaeffer, CPA

Accounts Payable Coffee Break #3

by Mary S. Schaeffer

4 out of 5

Language	:	English
File size	:	84 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	16 pages
Lending	:	Enabled

FREE