The Blog Master posted a link to an AP process success story yesterday, did you get it?

http://faoblog.com/ap-success-story/

And the post before that had a free white paper from Aberdeen Group.

http://faoblog.com/receivables-management-reduce-manual-interventions/

Coming back to AP, now, you are working at migrating the process. How will you add value by applying your best practices?  One way is to bring better transparency by defining the stage your invoice / transaction is in.

Stage Definition

At the system level, we need to define the stages where the WIP items shall reside. This module shall provide for the enhancement of the WIP Queue types. Each Queue type shall be identified by a Queue code, which shall be unique to the system, and its description.

Some standard queues used are :

  • Non-Prep                                    Initial receipt
  • Prep                                               Invoices Prepared
  • Prep – Hold                                Invoices Prepared – kept on hold
  • Vendor Maintenance             Requiring Vendor updated
  • Approval                                     Requiring Approval
  • Approval – Client                    Requiring Client Approval
  • Hold – Clarifications               On hold for clarifications
  • Rejects                                         Rejected for processing
  • Park                                               Invoices Parked
  • Posted                                          Invoices Posted
  • Response                                    Awaiting response
  • Rejection Feedback                Recd. after clarification
  • Trash                                             Finally rejected and deleted
  • Released                                      Released for payment

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