with to get the issue resolved. If weget word that this was an issue onour side we immediately pay theunpaid balance with no discountstaken. “When we are paying bills weekly,we see that if we have not receivedthe credit from the manufacturerthis bill goes unpaid until either theissue is resolved and or the credithas been issued. Once a month wecontact vendors requesting an up-date on the credits expected for thelist of short pays. “When the credit does come in, weremove the notation at the front of the invoice number (going fromCWR123456 to 123456) that wasoriginally put on the bill and pay itas usual. The vendor sees the origi-nal invoice number that was under-paid and they can apply the pay-ment appropriately. “This is a win/win situation for bothour accounting department as wellas the vendor. We usually do notunderpay an invoice unless there isan actual documented problem onthe vendor’s side.
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“Once they get used to you stick-ing to your guns on issues theyare happy because they knowthat there really is an issue thatneeds assistance. We have some-times noticed management getsinvolved because of the underpaids to correct this issue athand. “To get a credit we usually workwith another department for thecredits so the accounting depart-ment does not know what is goingon (this is why we let them knowwhy we are underpaying the in-voice the day that it should bepaid). This alerts them whenthere are a large number of shortpays that might need manage-ment knowledge.” 6) “I record the invoice at the fullamount, then record an inter-nally-generated credit memo. Idocument on the paper invoiceand in the credit memo 'comment'area in the system why we areshort paying the invoice. Then Isend a copy of the invoice(with the documenta-
White Paper: Demise of the Paper Invoice
The Demise of the Paper Invoice white paper is a 20-page $29.95report based on our research of the evolving invoice delivery prac-tices. It is delivered electronically. (So please include your e-mail address!)
Are Paper Invoices Going the Way of the Dinosaur?
Readers Comments: Part of the Research for This Paper
Consultants Corner: A Related Paper Invoice Problem
No Name, No PO: Guess What? No Check
Accounts Payable & Sarbanes Oxley Book Excerpt: Invoice Handling
Fraud in Accounts Payable
Book Excerpt: Vendor and Invoice Fraud: Not Every Invoice (or Vendor!) Is Legit
How to Efficiently Handle Detailed Invoices for Small-Dollar Amounts
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