TAPN's deep, comprehensive resources for executives and managers who oversee accounts payable give you point-and-click access to an exclusive accounts payable knowledge-base to help:
Keep current with AP methods and technologies
Maintain vital internal controls
Avoid compliance-related penalties
Assure current policies
Get answers to urgent questions
Focus areas include best practices for every AP function; AP metrics and benchmarking data; tax and regulatory compliance; solutions to real world problems; AP automation case studies; member Q&A networking forums, calculators, and more than 300 downloadable, customizable AP policies, flowcharts, templates and internal control checklists.
TAPN’s highly regarded training and certification programs provide AP education and credentialing for accounts payable managers and their staffs.
2014 IRS Mileage Rates Announced Travel & Entertainment The IRS has lowered the optional standard mileage rate for 2014 by half-a-cent.Beginning Jan 1, 2014, the standard mileage rates for the business use of a car (including vans, pickups or panel trucks) will be 56 cents per mile for business miles driven; 23.5 cents per mile driven for medical or moving purposes; and 14 cents per mile driven in service of charitable organizations. In addition to the decrease in the standard mileage rate, the rate for using a business automobile for medical or moving purposes also decreases by half-a-cent per mile, while,the rate for business miles driven in service of a charitable organization remains unchanged from 2013.
2014 IRS Mileage Rates
Checks are on the Way Out Payment While checks continue to be the dominant business-to-business payment method, new survey data reveals they are on the verge of a significant tipping point. According to the 2013 Association for Financial Professionals Electronic Payments Survey, 50 percent of the average participant's B2B payments are made via check. This is down significantly from the 81 percent reported in 2004, and from the 57 reported in 2010. If this trend continues, the majority of B2B payments could be made via electronic methods – such as ACH and card – as early as 2014. In addition to revealing how organizations are making their payments, the survey highlights the challenges that prevent many companies from making the leap to electronic payments.
Will 2014 be the Death of Checks?
Shared Services Gets a New Name AP Organization and Shared Services Shared services centers have long been considered the natural endpoint for back-office optimization. They were born out of the realization that consolidating transaction processes into central facilities or corporate offices can lower costs and improve standardization. Shared services centers began maturing when organizations started bringing other functions into these locations, driving costs down further. However, as businesses focus more attention on their global presence, they are learning that shared services centers are not the end of a process improvement journey, but another stop along the way. The destination is global business services.
Global Business Services: The Evolution of Shared Services
Invoice Data Capture Now Learns from its Mistakes Imaging and Workflow The heart of accounts payable automation is the workflow engine. But, in order to work, it requires that invoices be in electronic format. So the critical first step in automating AP is to get the invoice data in a system-compatible electronic format. The best approach would be to avoid paper in the first place-most (though not all) invoices start out as digital information in a supplier's system. The problem is that each supplier has many customers, each customer has many vendors, and all of them have their own particular accounting or ERP system and data formats. Since it has not been easy for AP to persuade suppliers to change their process, the first thing an AP department needs to do, in the words of one Fortune 50 shared services director, is "Stop the paper at the door!"
Invoice Data Capture: Key to AP Automation
Buyers Withhold $5 Billion from Nonresidents 1099-MISC/1042-S U.S. taxpayers filed more than 2 million 1042-S forms and withheld nearly $9 billion from nonresident aliens in 2011, according to new data released by the IRS. The IRS has released detailed statistics on foreign recipients of U.S.-source income. Pulled from tax year 2011 data, the tables break out nonresident withholding statistics by country, type of recipient, and how the recipient earned the income. In addition to providing fascinating statistics about foreign recipients of U.S. income, the IRS data also reveals the crucial need for accounts payable departments to collect W-8 forms from their foreign vendors.
IRS Releases Statistics on U.S.-Source Income
Should You Send 1099s to Puerto Rico? 1099-MISC/1042-S If you pay a U.S. person for nonemployee services, you report on a 1099-MISC. If you pay a foreign person for the same services performed inside the U.S., you report on a 1042-S. Most accounts payable departments have a clear understanding of this distinction. However, what happens when your contractor is from a U.S. territory? U.S. accounts payable departments often find themselves paying vendors and contractors that live in Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, or the Northern Mariana Islands. Because these countries are U.S. territories, does that mean the payees should be treated as U.S. persons? It depends.
Reporting Payments to U.S. Territories
Is it Illegal to Bribe Foreign Businesses? Fraud A key provision of the Foreign Corrupt Practices Act could be undone by the U.S. Court of Appeals. The judge must determine whether bribes paid to employees of government-owned businesses are illegal under the FCPA. For decades, the Department of Justice's definition of foreign official has been broad enough to include commercial businesses with some government ownership. If the judges disagrees, then the U.S. government could no longer prosecute businesses that pay kickbacks to foreign state-owned companies.
Foreign Corrupt Practices Act: What is a ‘Foreign Official?
The Accounts Payable and Purchase-to-Pay Leadership Conference 2014
May 19 – 21, 2014
This conference is a must-attend event where AP and P2P professionals will learn proven best practices, swap ideas with colleagues, get energized and return to your office with a list of innovative, productivity improvement and cost-saving tips you can implement right away!
AP Week: TAPN's weekly e-Newsletter highlighting the latest research, valuable tools, and informative continuing education opportunities.
AP Monthly: TAPN's hardcopy newsletter mailed to thousands of members each month. Each issue features a new in-depth accounts payable article and highlights many of the essential resources available to TAPN members.
Accounts Payable Certification & Training Certification: Designed to help Accounts payable professionals meet standards, demonstrate proficiency and gain recognition.
TAPN is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org