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Friday, July 25, 2014

Nominate the AP Department and AP Manager of the year

Nominations for AP Manager of the Year and AP Department of the Year are now being accepted by the Institute of Financial Management (IOFM). The winners will be announced on October 27 at the Accounts Payable Conference and Expo in Las Vegas .

AP Manager or Director of the Year - Qualifications:
* Strong leadership skills
* Professionalism
* Demonstrated ability to implement change
* Effective management resulting in improved processes
* Incorporates technologies resulting in significant savings
Nominate an AP Manager or Director.

AP Department of the Year - Qualifications:
* Excellent customer service
* Effectively streamlined processes, implemented new technologies, and/or reduced costs
* Made improvements to payment processes resulting in better cash management or more prompt payment discounts
Nominate an AP Department.

Nomination deadline: Friday, September 19, 2014.

Self-nominations are welcome. Click here for more information .

Sunday, July 20, 2014

IRS TIN Matching

Why you want to check TIN numbers on the IRS website?

You can check your W9 forms to make sure the SS# and EIN#'s match the name on the form. This will ensure you have acurate information, reduce the chance for fraud, and eliminate the possibility of getting a B notice from the IRS.

Here are some comments from APPG members:

● "Lets you find out immediately if the EIN and Name are valid. I scan the W-9 and the TIN confirmation page for backup."

● "It really is a best practice, and everyone should be TIN-Matching in today's AP environment."

● "We get audited all the time so we use it to verify the information listed on a required 2013 w9! This is so our penalties and 1099's are correct! By implementing this practice we have updated our file with correct Tax status and saved thousands in fines!"

● "TIN Match=No B Notices. TIN Match is a must; all vendor accounts are supported by a Form W-9 and a TIN match '0' result."

How do we get started?

1. Visit IRS's e-Services website
2. Register as a user here

Robert Ruhno
Founder & Social Media Manager
Accounts Payable Professionals Group

Saturday, July 19, 2014

What is FATCA?

What is FATCA? It sounds like a Canadian weight-lose website or an oversized pet, but it is not. It is a US federal law that requires documentation to prevent people and companies from hiding assets from being taxed.

It seems that companies will be required to maintain even more paperwork. This also includes a new tax form: the 8966 form that will need to be submitted on March 15th, 2015.

Here are some great places to get detailed FATCA information that pertains to your accounts payable department:

Here is a Youtube video I found that describes FATCA, although it's a bit sarcastic (it describes FATCA in a more entertaining way):

Robert Ruhno
Founder & Social Media Manager
Accounts Payable Professionals Group

Wednesday, July 16, 2014

AP podcasts

I came across a great website that I wanted to share with you:

These are the Accounts Payable podcasts:

 Controls for Accounts Payable
● Accounts Payable Best Practices
● Accounts Payable Matching

Robert Ruhno
Founder & Social Media Manager
Accounts Payable Professionals Group

Monday, July 14, 2014

Thank you to our members!

Accounts Payable Professionals is now over 30 thousand members strong! Thank you to all the members for making this group as great as it is.
If you work in the accounts payable field or are looking to change into AP, consider joining us! The group is free to join and is available on:
And you can follow us on Twitter: