Praise for Accounting Best Practices Sixth Edition "For a comprehensive, yet easy-to-read guide to fixing those all-too-common shortcomings in your accounting department, look no further than this excellent book. Steve Bragg provides hundreds of fixes, many of them requiring surprisingly little time or cost while providing a handy guide to common implementation pitfalls . . . I would recommend this invaluable book to anyone who is looking to enhance their existing processes, whether due to growth in their business, compliance with Sarbanes-Oxley, or just as part of their ongoing improvement process." -Martyn Webster, CPA, Director of FinanceXenoPort, Inc. "This book is critical to running an efficient and accurate accounting department. The use of RFID technology to track documents is one of many valuable tools in this latest edition. A required read for the demanding accounting manager's role." -Jason Charet, CPA "I've used Steve Bragg's Accounting Best Practices books for years as a source of ideas for improvement. Like the previous editions, the Fifth Edition has a number of new, actionable best practices as well as refinements of those ideas reported in previous editions. The books are broad enough in their perspective so that nearly any organization could find ideas that could pay back the cost of the book many times over." -John Temmerman, Controller, Evangelical Lutheran Church in America "What a great resource! I have been in the accounting field for over twenty years, and I was still able to gain insight into improving processes within my office. Thanks for putting it all in one book!" -Tina M. Thomas, CPA, CTP, Controller, Goodman & Company, LLP. Accounting Best Practices, Sixth Edition -- About the Author -- Free On-Line Resources by Steve Bragg -- Contents -- Preface -- Chapter 1: Introduction -- Chapter 2: How to Use Best Practices -- Types of Best Practices -- The Most Fertile Ground for Best Practices -- Planning for Best Practices -- Timing of Best Practices -- Implementing Best Practices -- Best Practice Duplication -- Why Best Practices Fail -- The Impact of Best Practices on Employees -- Summary -- Chapter 3: Accounts Payable Best Practices -- Implementation Issues for Accounts Payable Best Practices -- 3 -1 Pay Based on Receiving Approval Only -- 3-2 Reduce Required Approvals -- 3-3 Use Negative Assurance for Invoice Approvals -- 3-4 Use Procurement Cards -- 3-5 Use a Ghost Card -- 3- 6 Negotiate Procurement Card Rebates -- 3-7 Route All Invoices Directly to Accounts Payable -- 3-8 Split Payables Processing Based on Discounts -- 3-9 Adopt a Standard Invoice Numbering Convention -- 3-10 Automate Three-Way Matching -- 3-11 Digitize Accounts Payable Documents -- 3-12 Directly Enter Receipts into Computer -- 3-13 Fax Transmission of Accounts Payable Documents -- 3-14 Have Suppliers Include Their Supplier Numbers on Invoices -- 3-15 Receive Billings through Electronic Data Interchange -- 3-16 Request That Suppliers Enter Invoices through a Web Site -- 3-17 Shift Incoming Billings to an EDI Data-Entry Supplier -- 3-18 Audit Expense Reports -- 3-19 Automate Expense Reporting -- 3-20 Eliminate Cash Advances for Employee Travel -- 3-21 Link Corporate Travel Policies to an Automated Expense Reporting System -- 3-22 Centralize the Accounts Payable Function -- 3-23 Store Late Fees in a Separate General Ledger Account -- 3-24 Issue Standard Account Code List -- 3-25 Link Supplier Requests to the Accounts Payable Database -- 3-26 Implement a Reverse Lockbox.
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