Description

Wouldn’t it be great to hear the following from a vendor?  “We show a past due invoice on your account.  We must have made a mistake.  Can you help us figure it out”?  Believe it or not, it can happen. 

This course covers Credit Holds – what they are, why they happen (it may not have anything to do with past due amounts) and how to have them removed. We also explore the pros and cons of Vendor Statement Reconciliations and some of the ways inquiries from vendors can be managed.

We also look at some of the connections between vendors and the company. Things like: What information should be supplied to or requested from the vendor when onboarding them?  Does the information to be supplied to the vendor include Accounts Payable’s (AP) requirements? How does your Accounts Payable staff feel about calls from Accounts Receivable teams – Especially when the funds are not yet due? 

Establishing strong working relationships with vendors can take a great deal of time in the beginning but once protocols are developed, the number of issues should go down and working on any remaining issues should take less time. And taking this course is the first step to strengthen those relationships.