Do you have a policies and procedures manual for your AP department?

Documentation of AP policies and procedures are essential to proper training, communication, goal setting, evaluations, and execution in the payment functions. A complete manual should address all aspects of payment processing from invoices to credits, returns, discounts, allowances, rebates, back-orders, escheatment, sales and use tax, prepayments, and many others.
It is important to be as detailed as possible and attempt to cover typical and atypical situations that arise while processing invoices and credits. As your company grows and changes, it is also important to keep up by documenting them in the policy manual.
If you need help starting your manual, ask your AP consultant or make use of the many resources available online.

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