Preparing for Year End in Accounts Payable

• Identify the tasks accounts payable needs to do to help the organization have an effective close
• Pinpoint problem areas in the close before they occur so the difficult issues can be addressed before difficulties occur
• Resolve problems caused by discrepant invoices in a timely manner
• Address the open vendor credit issue in a way that improves the organization's bottom line
• Create effective solutions to handle employees who submit expense reports long after their due date
• Provide a workable approach to dealing with managers who don't approve subordinates' expense reports in a timely manner
• Create a document that will guide and track the accounts payable team through all its year-end tasks
• Identify which items must be included in year-end accruals completed in accounts payable
• Develop a best-practice approach to collecting all vendor tax information needed to issue Form 1099s in January
• Build workable solutions to address common Form 1099 problems
• Pinpoint steps any organization can take to ensure a smoother close in accounts payable