The IRS TIN Matching service is a valuable tool that every A/P manager should know about.  This free-of-charge e-service allows ‘authorized payers’, defined by the IRS as one who has filed information returns with the IRS in at least one of the two past tax years,  to match 1099 payee information against IRS records prior to filing information returns...

I was recently speaking with a financial executive at a billion dollar plus company and I was surprised to hear him say that he didn't feel his company could have a duplicate payment issue because they were SOX certified and used the most expensive accounts payable system.  Anyone who actually enters A/P transactions into any accounts payable system, be it the most expensive accounts payable system or not, knows that SOX procedures and your accounts payable system are just two of the many controls necessary to stop duplicate payments...

Technology Insight has been identifying duplicate payments for clients since 1999.  Throughout this time we have worked with a multitude of systems such as SAP, PeopleSoft, Oracle, Lawson, BPCS, GEAC, J.D. Edwards and many more recognizable (and unrecognizable) systems.  Each system contains controls to stop duplicate payments.  Inevitably, we always identify duplicate payments missed by these systems and we can clearly see management is upset that the duplicate payments occurred when they have processes and system controls in place to stop them...