{"id":1059,"date":"2017-03-23T16:50:17","date_gmt":"2017-03-23T16:50:17","guid":{"rendered":"https:\/\/www.aiminsight.com\/?p=1059"},"modified":"2021-02-17T12:48:20","modified_gmt":"2021-02-17T20:48:20","slug":"late-inaccurate-payments","status":"publish","type":"post","link":"https:\/\/www.aiminsight.com\/blog\/uncategorized\/late-inaccurate-payments\/","title":{"rendered":"Late and Inaccurate Payments"},"content":{"rendered":"<ul>\n<li>Transactions are being entered manually in each company.<\/li>\n<li>Inter-company transactions are being re-keyed into multiple company databases, and there are errors.<\/li>\n<li>Transactions do not get recorded in all companies.<\/li>\n<li>They get recorded incorrectly, resulting in difficulty reconciling the inter-company balances.<\/li>\n<li>Payees could tamper with the checks and change the payment amounts.<\/li>\n<li>Banks pay fraudulent checks.<\/li>\n<li>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.<\/li>\n<li>Payments are made to vendors who are also customers but who actually owe your company money.<\/li>\n<li>You have to enter in transactions to clear the AR or AP balance and then enter additional transactions in the opposite module.<\/li>\n<li>Transactions could be entered incorrectly or missed, causing great difficulty in recovery of those transactions.<\/li>\n<li>There are potentially over or underpayments to vendors.<\/li>\n<li>AP aging is inaccurate due to vendor invoices with unusual terms or an extended payment schedule.<\/li>\n<li>The process of recording vendor invoiced with an extended payment schedule manual.<\/li>\n<li>It is necessary to enter multiple documents with multiple due dates to accurately reflect the extended payment schedule.<\/li>\n<li>Entries are missed, causing payables to be inaccurate.<\/li>\n<li>Potential payment errors affect your vendor relationships.<\/li>\n<li>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.<\/li>\n<li>Users cannot get at the information that is important to them without having the knowledge to build a report.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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&#8230; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1059","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/comments?post=1059"}],"version-history":[{"count":2,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1059\/revisions"}],"predecessor-version":[{"id":1744,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1059\/revisions\/1744"}],"wp:attachment":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/media?parent=1059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/categories?post=1059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/tags?post=1059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}