Research has proved that duplicate payments usually account for between 0.05 and 0.1 percent of financial transfers. This means that up to one in every thousand payments will be unwarranted. Not only that, but this is just one of many different forms of accounting error – which may be caused by human error or intentional…
Category: Finance
Bacs payment schemes for paper-free capabilities
There is no need for businesses to squander valuable time and physical resources on making and receiving payments these days. Indeed, ever since bacs software was developed in the late 1960s, increasing numbers of businesses have been discovering the savings they can make by switching from payment by means such as issuing paper invoices and…
Recovery audit software - enabling your team to take control of their own auditing
The Accounts Payable audit is a necessary procedure in the majority of workplaces. However talented and thorough accounts teams are, duplicate payments and other errors are always going to occur, and these can end up costing a great deal. Many businesses pay professional recovery auditors, but these often charge unnecessarily high fees. If it is…