Learn How Remove the Budget drain caused by Poor audit Features and Upgrade the Payment Methods in Your Accounts department
Sunday, December 30th, 2007Although the Duplicate payments numberand size is normally less than compliance or pricing errors this sort of overpayment is generally feared by accounts payable management as the accountability is on them to warrant that these errors do not ensueby using recovery audit software.
How Do They Happen?
A typical invoice entry includes an invoice number, date, amount, vendor number and many other fields. If any of these fields are typedmistakenly or inconsistently, the system’s inherent check for duplicate payment will not be effective. Add to this fact there might not be a defined invoice numbering system it’s reasonable to observe how overpayments can slip through the net.