- Transactions are being entered manually in each company.
- Inter-company transactions are being re-keyed into multiple company databases, and there are errors.
- Transactions do not get recorded in all companies.
- They get recorded incorrectly, resulting in difficulty reconciling the inter-company balances.
- Payees could tamper with the checks and change the payment amounts.
- Banks pay fraudulent checks.
- AP and AR trial balances need to be manually reviewed to determine the net balance for entities that are both a customer and a vendor of your company.
- Payments are made to vendors who are also customers but who actually owe your company money.
- You have to enter in transactions to clear the AR or AP balance and then enter additional transactions in the opposite module.
- Transactions could be entered incorrectly or missed, causing great difficulty in recovery of those transactions.
- There are potentially over or underpayments to vendors.
- AP aging is inaccurate due to vendor invoices with unusual terms or an extended payment schedule.
- The process of recording vendor invoiced with an extended payment schedule manual.
- It is necessary to enter multiple documents with multiple due dates to accurately reflect the extended payment schedule.
- Entries are missed, causing payables to be inaccurate.
- Potential payment errors affect your vendor relationships.
- It takes a great deal of time to create custom reports or queries in order to research vendor invoices prior to including them in the check run.
- Users cannot get at the information that is important to them without having the knowledge to build a report.
