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Episode 25: 3 Ways to Maintain OFAC Compliance Beyond Vendor Setup

On today’s podcast we are going to talk about maintaining compliance for a US sanctions list, the OFAC SDN list. If you only check vendors against this list at the time of vendor setup and then forget about it – you need to listen up. I will review why you need to monitor, give two examples of fines for OFAC violations , and then talk about how you can monitor your existing active vendors. Check out my website www.debrarrichardson.com if you need help cleaning your vendor master file or...


Episode 24: Tracking IRS Form W-8 Expiration Dates…..Yet Another Fabulous Task AP Gets To Do

The last episode of the podcast Episode 23: US Entity: Validations Required to Setup a Non-Us (Foreign) Vendor talked about what documents to collect and how to validate them for Foreign vendors. On today’s podcast I keep that conversation going by talking about that added task that everyone loves to do when you collect a version of the W-8 form to setup vendors in your vendor file. That is tracking the W-8 Expiration Dates. Subscribe today to be entered into the subscriber only monthly...


Episode 22: US Entities: Validations Required for US Vendors

If you work in a Finance, Accounting, Purchasing or Accounts Payable Department of a US Agency or Entity and are responsible for setting up vendors in your Accounting System or ERP – this blog post is for you. The information in this episode will keep you compliant with regulatory agencies and will also ensure that you are validating that the vendor is real, and the data is not fraudulent prior to adding the vendor to the vendor master file. And that’s what we want folks – real...


Episode 21: Two Key Transferable Accounts Payable Skills

On today’s podcast I am talking about two key transferable Accounts Payable Skills and what career moves you can make with them. Also – do you think there are no high tech positions in AP? Think again! Subscribe today to be entered into the subscriber only monthly drawing to win a free Putting the AP in hAPpy Coffee Mug. Spotify TuneIn Stitcher YouTube iTunes Reference Links: Robert Half 2019 Salary Guide Financial US: https://www.roberthalf.com/salary-guide Vendor Validation Reference...


Episode 20: A Conversation with Josh Kunkel On Employee Appreciation Day 2019

On last week’s Podcast and Blog I talked about the 5 Languages of Appreciation in the Workplace by Gary Chapman and Paul White. Now you may be familiar with the 5 Love Languages by Gary Chapman, but this book talked about the importance of recognizing that each employee can have one of these 5 ways that make them feel appreciated. I listed each of the 5 ways, Words of Affirmation, Quality Time, Acts of Service, Physical Gifts and Physical Touch and gave some examples of each and I also...

Episode 18: US Based Entities - Explanations for Non-US Vendor Validations

Stay Tuned. In last week’s Blog Post entitled: “Table: Non-US vs US Vendors for US Based Entities” it was a short one where I list a table that showed the different forms, tax numbers as well as the different validations for the address, banking and watch lists. On today’s podcast I will go into more detail about validations for Non-US Vendors for US Based Entities. Subscribe today to be entered into the subscriber only monthly drawing to win a free Putting the AP in hAPpy Coffee...


Episode 17: Three Fictional Stories and a Documentary on Internal and External Fraud

Sometimes it’s not easy explaining what I do to those outside of the Accounts Payable function. To explain it to a group of businesses owners today, I presented three fictional stories about employees that work in the Accounts Payable Function and are about to have a bad phishing or ethical day. And I thought it would be fun to share it with you. I will then follow-up up with a true story about a Comptroller, a small town, and misuse of public funds that is in a documentary available as of...

Episode 16: Treat Inactive Vendors the Same as New Vendors

In my blog post published Thursday, January 31st, titled “Vendor Master File: When an Existing US Based Vendor Changes Their Legal Name or Tax ID or Both” I discussed how to update the vendor record when existing vendors make those changes. I am going to continue talking about these in this podcast by talking about the process to reactivate an inactive vendor, and it’s those inactive vendors that may have had Legal Name or Tax ID changes while they were inactive and not doing business with...


Episode 15: 5 Lessons Learned Implementing a Vendor Self-Registration Portal

Vendor Setup & Maintenance In last week’s podcast Episode 14 “Episode 14: 2 Ways to Partner with Systems/IT to Protect Sensitive Vendor Data from Non-Vendor Maintenance Employees” published on Sunday, January 21, 2019, I talked on about how a vendor self-registration portal can be the answer to prevent sensitive vendor data from Non-Vendor Maintenance employees. On today’s podcast I am going to talk about 5 lessons learned from implementing a Vendor Self-Registration Portal at a Fortune 15...


Episode 14: 2 Ways to Partner with Systems/IT to Protect Sensitive Vendor Data from Non-Vendor Maintenance Employees

In my blog post titled “2 Processes You Can Implement Today To Protect Sensitive Vendor Data from Non-Vendor Maintenance Employees” published Thursday, January 17, 2019, I described how Secure Print and Desk Audits can help protect the vendor master file from fraud by keeping sensitive vendor data secure. Today’s podcast will include two extra ways to protect your vendor sensitive data that involve the IT team. You will want to listen to the end where I describe my experience with...


Episode 13: SMBs – What a Fraud Risk Management Program Can Look Like For You

Vendor Setup & Maintenance Show Notes On today’s podcast my guest is Linda Stacey, CFE. Linda is a Certified Fraud Examiner that was a guest blogger this week with the blog “SMBs - Why You Need a Certified Fraud Examiner (CFE) and a Fraud Risk Management Program” published on Thursday, January 10, 2019 at www.debrarrichardson.com. She is here to go into more detail on the Fraud Risk Management Program which includes the Association of Certified Fraud Examiners ACFE’s Fraud Risk Assessment...


Episode 12: What Role Can P-Cards Play to Avoid Fraud in Your Vendor Master File

Today’s podcast is inspired by my blog post “Why You May Need a Manual Vendor Process with Your Vendor Portal” published Thursday, January 3, 2019 at debrarrichardson.com. While a manual process may be unavoidable in certain scenarios, my guest today Lynn Larson will talk about P-Cards and if they can be an alternative to setting up vendors in the Vendor Master File, avoiding the manual vendor process. What are P-Cards? How are P-Cards Processed? Can the use of P-Cards reduce the volume...


Episode 11: Can’t Process That Vendor Request? Here are 8 Ways to Handle the Internal Team Member or Vendor

Today’s podcast is a follow-up to the Blog Post “Urgent Vendor Setup? Here’s How to Protect Your Vendor Master File” and discussing 8 ways to handle the Internal Team Member and Vendor when you cannot process the request for a new vendor add or change to an existing vendor. Vendor Setup & Maintenance Reference Links Blog Post: “Urgent Vendor Setup? Here’s How to Protect Your Vendor Master File” http://bit.ly/2rZ4H1n Vendor Validation Reference List: www.debrarrichardson.com - Scroll to...


Episode 10: This is What Can Happen When an AP Practioner Solves the Biggest AP Question

Today’s podcast is a conversation with Jason Widmann, a Director of Accounts Payable. We will discuss how he developed a new tool to reduce both live calls and emails, to solve a pain point with the highest volume of AP inquiries - fielding questions on the status of invoices. And since he is from AP, he developed the cloud-based software with three key elements in mind to make it easier for AP teams to implement: · Adoption by Vendors · Implementation Timeline · Cost $$ Listen to the...


Episode 9: Vendor Validations Using the Data on Invoices, Banking Forms, Contracts and Vendor Emails

Today’s podcast is a follow-up to my blog post “7 Validations Using the Data from the IRS W-9 Form”. I will discuss validations that are recommended for the vendor data on Invoices, Banking Forms/Letterhead, Contracts/SOWs, and Emails. At the end I will share with you how you can get your own free Vendor Validation Reference list with resource links that you can share with your team and put up in your office or cubicle as a quick reference. Vendor Setup & Maintenance Additional...


Episode 8: Two Case Studies on Occupational Fraud & How Internal Controls Could Have Prevented Them

Today I will be discussing two case studies of occupational fraud in vendor payments, both which were reported in the news in November and they could not be more different – One was a government entity, the other was a for-profit entity. One perpetrated by a woman, the other by a man. One where the payments were made by check and the other where the payments were made by ACH. One stole thousands, the other stole millions. Follow along as I review what internal controls and best practices...


Episode 7: Interview with Mary S. Schaeffer, AP SME

This is a special episode! I am interviewing the person that gave me my foundation for Accounts Payable – Mary S Schaeffer. We discuss: The most critical AP topics from in her first newsletter in 1995 and today. Hmnm – are they the same? Why the human component needs to be partnered with any digital solutions to combat fraud. How Invoice Automation solutions have evolved making it accessible to SMBs. Lifelong learning and the Accounts Payable professional > Digital solutions > AI,...


Episode 6: Building Your Personal Brand: How Are You “Putting the AP in hAPpy?”

Take advantage of an opportunity to grow your personal brand. Listen today to see how you can share your story of how you are Putting the AP in hAPpy and have a chance to win an “I am Putting the AP in hAPpy” coffee mug. Vendor Setup & Maintenance Additional Resources: Blog Post: “How Are You “Putting the AP in hAPpy?” Enter to Be on Podcast!” http://bit.ly/2JQ4fee Forbes: “5 Ways To Build Your Personal Brand At Work”...


Episode 5: 4 Recommendations for Compensating Controls in Absence of Segregation of Duties to Protect the Vendor Master File from Fraud

Is your Accounts Payable team too small to comply with Segregation of Duties? Listen today to 4 recommendations that may help your company develop compensating controls. Vendor Setup & Maintenance Additional Resources: · Blog Post: “AP & Procurement: Owning the Vendor Master File — Vendor Setup & Maintenance” http://bit.ly/2Qdyv4X · Public Company Accounting Oversight Board (PCAOB) https://pcaobus.org/Standards/Auditing/Pages/AU319_Appendix.aspx · Podcast: Subscribe and leave a review on...


Episode 4: 3 Scary Vendor Setup Scenarios: How to Protect Your Vendor Master File from Fraud

How do you handle these 3 “scary” vendor setups? Urgent New Vendor Setup or Vendor Change with No Supporting Documents Vendor Name Change Payments Outsourced AR to a 3rd Party Vendor Listen for my recommendations. Revise/Adjust based on your company processes and industry requirements. Vendor Setup & Maintenance Additional Resources: Blog Post: “Send a Notification to Vendors After Updates in the Vendor Master File” http://bit.ly/2AvIYDu Episode 3 Podcast: Episode 3: Fake Charities:...