On Demand Webinar
Webinar Details $219
- Webinar Length: 100 Minutes
- Guest Speaker: Mary Schaeffer
- Topic: Taxation and Accounting, Accounts Payable
- Credit: ATATX 1.5, CPE 2.0
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In this session we’ll identify eight strategic opportunities, for those professionals willing to push the envelope and go the extra mile. After this session, you will be able to:
- Establish reasonable expectations around AI enabling you to get the most out of it.
- Create a continuous user-friendly learning platform.
- Develop investigative skills to help weed out AP errors.
- Incorporate additional productivity shortcuts from common Office tools.
- Introduction
- Agenda 00:01:32
- Best Practices 00:02:54
- Change in Accounting 00:04:48
- Change in Accounting - Best Practices 00:06:42
- Part 1 00:07:14
- Analyze the Outliers - Best Practices 00:08:13
- Analyze the Outliers - The Good & The Bad 00:09:03
- Analyze the Outliers: The Forgotten Step 00:09:52
- Analyze the Outliers: Example 1 00:11:35
- Analyze the Outliers: Example 2 00:112:18
- Analyze the Outliers: Example 2 Part 2 Lesson Learned 00:13:56
- Analyze the Outliers: Example 3 00:14:47
- Deep Dive into Vendor Credits 00:16:57
- Deep Dive into Your Vendor Credits 00:17:48
- Deep Dive into Your Vendor Credits: The Next Step 00:18:56
- Deep Dive into Your Vendor Credits: Finding The Credits 00:20:31
- Deep Dive into Your Vendor Credits: Credit Memo Analytics 00:22:49
- Potential Early Payment Discounts 00:26:53
- Early Payment Discounts 00:25:11
- Early Payment Discounts Cont. 00:26:41
- Early Payment Discounts Cont. 00:27:03
- Early Payment Discounts Cont. 00:27:33
- Early Payment Discounts Cont. 00:29:45
- Become an Analytics Champ - Best Practice 00:32:50
- Become an Analytics Champ - Tracking Data 00:35:49
- Become an Analytics Champ - Using Data 00:37:34
- Become an Analytics Champ - Data In AP 00:38:13
- Cross-Functional Collaboration - Best Practice 00:38:47
- Cross-Functional Collaboration - Purchasing 00:39:27
- Cross-Functional Collaboration - •Budget 00:42:46
- Cross-Functional Collaboration - Treasury/Finance 00:45:40
- Relentlessly Pursue the Elimination of Paper Invoices from AP 00:48:17
- Elimination of Paper Invoices from AP - Vendors 00:50:00
- Elimination of Paper Invoices from AP - Going Paperless 00:51:01
- Elimination of Paper Invoices from AP - Rigid Coding Standard 00:51:47
- Slay the Paper Check Dragon 00:54:55
- Slay the Paper Check Dragon: The End is in Sight - Paper Checks 00:56:47
- Slay the Paper Check Dragon: The End is in Sight - Paying With ACH 00:57:53
- Part 2 01:01:24
- Take A Page From Mr. Beast - Best Practice 01:02:20
- Take A Page From Mr. Beast - 1% Solution 01:02:33
- Take A Page From Mr. Beast - Look For Shortcuts 01:03:48
- 5 Simple Examples 01:04:53
- Regular and Timely Fraud Updates - Best Practice 01:06:36
- Regular and Timely Fraud Updates - Express Fraud Alerts 01:09:09
- Regular and Timely Fraud Updates - Criminal Targets 01:10:38
- Regular and Timely Fraud Updates - Recap 01:11:09
- Take Advantage of AI 01:11:10
- Take Advantage of AI - Learn How To Use It 01:12:36
- Take Advantage of AI – The Caveats 01:13:35
- Take Advantage of AI – The Pluses 01:15:25
- Take Advantage of AI – An Example 01:17:17
- Scrutinize Often-Overlooked Process Improvement Clues - Best Practice 01:17:42
- Scrutinize Often-Overlooked Process Improvement Clues - Ways To Improve 01:18:23
- Scrutinize Often-Overlooked Process Improvement Clues - Journal Entries 01:19:15
- Scrutinize Often-Overlooked Process Improvement Clues - Investigate Duplicate Payments 01:20:03
- Scrutinize Often-Overlooked Process Improvement Clues - Duplicate Payments 01:21:22
- Make Audit A Standard Part of AP - Best Practice 01:21:55
- Make Audit A Standard Part of AP - invoice Processors And Transactional Work 01:25:49
- Make Audit A Standard Part of AP - Review Standard Activity For Efficiency 01:26:50
- Make Audit A Standard Part of AP - Review For Internal Control Weaknesses 01:28:11
- Stay Current: Regulatory Compliance Knowledge - Best Practice 01:30:10
- Stay Current: Regulatory Compliance Knowledge - IRS Funding 01:31:13
- Step 6: Stay Current: Regulatory Compliance Knowledge 01:32:40
- Emphasize Employees’ Continuous Learning - Best Practice 01:33:26
- Emphasize Employees’ Continuous Learning - Budget & Time 01:34:38
- More on Employees’ Continuous Learning 01:35:10
- Some Free Resources 01:35:37
- More on Employees’ Continuous Learning 01:36:09
- Concluding Thoughts 01:36:59
- Analyze the Complaints 01:37:57
- The Beyond Best Practice Winners 01:39:47
- Thank You/Questions/Comments 01:42:29
- Presentation Closining 01:42:45
- Accounting (ACCG) 00:04:52
- Accounts Payable (AP) 00:00:07, 01:01:40, 00:05:13, 00:17:20, 00:21:33, 00:27:29, 00:35:58, 00:39:24, 01:02:13, 01:14:30, 01:26:42
- Accounts Receivable (AR)
- Artificial Intelligence (AI) 01:11:15
- Audit 00:17:01, 01:02:03, 01:22:04, 01:32:58
- ChatGPT 01:17:16, 01:33:56
- Contract 00:29:41
- Form 1099 00:14:16, 01:32:46
- Form 1099-DA 01:33:15
- Invoice 00:05:32, 00:17:27, 00:29:52, 00:48:26, 00:51:20
- Macros 00:34:01
- P-Card 00:44:43
- Pivot Tables 00:34:02
- Supplier 01:15:06, 00:21:36, 00:29:57, 00:41:50, 00:50:05, 00:57:58
- Vendor 00:07:27, 00:23:39, 00:26:31
Accounting (ACCG): A systematic way of recording and reporting financial transactions for a business or organization.
Accounts Payable (AP): The amount of money a company owes creditors (suppliers, etc.) in return for goods and/or services they have delivered.
Accounts Receivable (AR): The amount of money owed by customers or clients to a business after goods or services have been delivered and/or used.
Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.
Audit: A formal examination of an organization's or individual's accounts or financial situation
ChatGPT: ChatGPT, which stands for Chat Generative Pre-trained Transformer, is a large language model-based chatbot developed by OpenAI and launched on November 30, 2022, notable for enabling users to refine and steer a conversation towards a desired length, format, style, level of detail, and language used.
Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Form 1099: Form 1099 is one of several IRS tax forms used in the United States to prepare and file an information return to report various types of income other than wages, salaries, and tips (for which Form W-2 is used instead). - Wikipedia (https://en.wikipedia.org/)
Form 1099-DA: This form is specifically designed to handle the reporting for cryptocurrency and digital assets.
Macro: One or more lines of programming code that automate tasks. The Macro Recorder allows users to automate tasks without seeing the underlying programming code.
P-Card: A PURCHASING CARD (also abbreviated as PCard or P-Card) is a form of company charge card that allows goods and services to be procured without using a traditional purchasing process. In the UK, purchasing cards are usually referred to as procurement cards
Pivot Table: A report creation tool in Excel that enables you to quickly summarize lists of data into summary reports by clicking checkboxes and dragging fields onscreen.
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.
