AP Audit Blog
- Accounting BenchmarkingEvery industry has its fair share of reports , reviews data points , and sound bites. The Profit Recovery profession is the same . Recently we have performed quite a bit of analytics and reporting to exposed some compelling information about recovering open credits from your vendors and suppliers. […]
AP Audit Articles
- Vendor Statement Audit – A Best Practice for AP Departments (Part 2 of 2)In part one of this blog we discussed how the traditional approach to vendor statement auditing recovers only up to $100,000 per every $1B audited annual whereas a proper statement audit should recover 5-10X that amount. In this blog I would like to discuss how and why Lavante is able to hit those much higher numbers. Lavante Recovery [...] […]
- Vendor Statement Audit – A Best Practice for AP Departments (Part 1 of 2)Since the beginning of the recovery audit industry, traditional firms have focused their attention on client AP data to perform recovery reviews. Statement auditing (the practice of collecting and reviewing supplier AR records) required a different process than a client-side review. Due to manual labor and outreach requirements, traditional firms review on […]
- Unclaimed property audits on the riseAccording to the National Association of Unclaimed Property Administrators, state treasurers and other agencies currently hold nearly $33 billion in unclaimed property. The term “unclaimed property” can cover a variety of payments or accounts, such as vendor payments, AR credits and payroll checks, for which the owner hasn’t been found after a year.. Unclaim […]
- Taming Vendor Credits, Part TwoLast week, we looked at the causes of most vendor credits, and offered some ideas for tracking them. Now, we’ll look at software and auditing when it comes to vendor credits. Software solutions that consolidate and analyze your vendor and accounts payable data also can help you stay on top of vendor credits. What’s more, many [...] […]
- Taming Vendor Credits, Part OneMost vendors have money that actually belongs to their customers – AKA “vendor credits.” For instance, the customer’s accounts payable department may have forgotten to deduct a discount and overpaid an invoice. Or, the vendor may inadvertently have double-billed a customer and been unable to return the money. While many firms overlook these credits, doing so […]
The threat of foreclosure can be very demoralizing and alarming if you don’t know what you’re facing. If you know the steps leading up to foreclosure, you can do something about it. That’s why you need to take the time to learn the foreclosure process and save your family from mortgage foreclosure.I like to share this interesting Dutch article geld lenen zonder bkr toetsing.
The moment you miss that first mortgage payment, the steps on the way to foreclosure are set in motion. The lender will send you a notice about the fact that you’re behind in payments. If you pay your unpaid bills, they will leave you alone. You’ll get calls from the mortgage company if you stay in default. If you speak with them, they will officially announce to you that you are in default. If you’re going through this process right now, it is imperative you get in contact with your lender.
If you reach your lender and explain your hardship, you may be able to get mortgage loan modification. Going through this process can be one of the best ways to prevent mortgage foreclosure. If you get behind on payments for more than 3 months, chances are that your lender will start the foreclosure process. Most lenders will hold off a bit longer, but the foreclosure notice will hit your doorstep soon enough.
When that foreclosure letter lands on your welcome mat, you’ve got a problem. You can attend the court hearing and try to stall the foreclosure process, but you will lose because you’re clearly offending the terms of your mortgage. When the court hearing is finished and the decision has been made, the bank receives the right to sell your house through an auction. As soon as that decision is made, you only have days left to leave your home. The local sheriff will evict you if you do not leave the house yourself.
Talk with your lender before it gets to this point. Many times, mortgage loan modification can be an answer to your problems and it would be a pity to squander that chance. Study the mortgage loan modification process and fill out the paperwork right to get the best chance of being accepted.
Filed under News by on Aug 26th, 2010. 
Accounting or accountancy is among the most promising kinds of career these days. It is always in demand and the career opportunities here are huge. If you’re considering a profession as an accountant, then you will definitely see that this can change your professional life.
To begin with, you should know ways to start in the accounting field. Below are great tips which can point you the way to success.
The very first thing you should do is decide on the field of accounting that you are interested in. There are basically lots of different fields in the accounting career and you might surely choose the right one.
It’s also a good idea to study about information associated with accounting or accountancy, including the college or university you’ll take the course in. You need to consider that companies are quite picky when it comes to the college or university that accountants graduated in. Also, in this way, it will be possible to know which college or university gives good quality education especially on accountancy.
Try asking accounting professionals and teachers who definitely are proficient in the subject. They definately will provide you with a lot of information coming from their own experience.
If you intent to pursuing an accounting career, then you have to enroll in a bachelor’s degree in accounting. Even if you’re good in accounting, you’re never going to have a good job if you don’t have at least a bachelor’s degree.
After graduating, never set your ambitions too much. Never forget that everyone starts small and work their way up to their goals. Get started with as a junior accountant or as a trainee. This won’t only provide you with a chance in the accounting career, yet it will also give you valuable experience as well as knowledge about accounting.
Always remember that accountancy is a ongoing education. As much as possible, you need to improve your knowledge about accounting in order to keep up with the requirements of the industry.
As i’ve already explained, there are several accounting jobs. There are lots of fields of accounting which is up to you to choose which one you want to take on as a career.
After college, you’ll be able to qualify for a certified public accountant or as registered public accountant license. Though you can still get a job as an accountant even if you don’t have any license, you need to remember that more opportunities might open up if you have one.
In this profession, you can become an auditor, a management consultant, a financial officer, an analyst, as well as as a tax accountant.
Being independent or being a freelancer in this field can be a promising career. However, you do need a great network of contacts in order for you to bring in more cash and more experience.
You may also try other areas of expertise in accounting, such as forensic auditing exactly where you will be responsible for investigating crimes related to company’s finances and also tax fraud.
An execllent career choice for accountants is by simply becoming a teacher of accounting. This is a very rewarding accounting career choice.
As you can see, you can find lots of accountancy vacancy. All you need to do is stick to the stated tips and it is certain that you will be on the right track into becoming a successful accountant in the field you decide on.
Filed under Profit Recovery, Recovery Audit by on Aug 26th, 2010.
You might want to think about hiring a tax accountant if one or more of the following points are applicable to you:
Tax law is alien to you – Those of you with tax returns to make need to be aware of things such as depreciation schedules, expense limits and payroll taxes. In the event you are a total stranger to anything tax related, you need to verse yourself in the basics of tax laws before even considering doing your own. Even if you do happen to know what a mid-quarter convention is, you will have to learn how it applies to your business, as well as the subtle nuances of business-related tax law. It would take you a long time to learn all that you need to, whereas a professional tax accountant already has that knowledge.
You are not willing to keep up to date with tax law advances and changes – Though you might have some knowledge of tax law from previous years, that does not equate to an adequate knowledge of current tax laws. They change every year, with new rulings put forth by Congress and the IRS, as well as new judgments. While your newspaper could keep you apprised of some new rules, they will not cover everything, so you have to keep on your toes, or hire a professional tax accountant to help you through the process.
Your free time is limited – Though you might have gotten the latest tax software on your side, you might not know all that much about it, and it will take days or weeks at a time to really determine how to figure all of this out. You might even think you have it all figured out, but you miss a vital figure that will spell doom for your tax return. Professional tax accountants can take out all of this guesswork and work with you, getting your return done in as little as a half hour to an hour, given the right preparation.
You need tax advice throughout the year – What kind of IRA should you be getting, from deductible to Roth? How are your investments doing, and are they were they should be? Would it be a good idea for you to pay off your mortgage? Are there adjustments that you need to make to your federal and state income tax withholding? While you can try to consult all manner of tax guides to learn these answers, you might have a different situation than they describe, which is why a professional tax accountant will be able to fit these rules to your circumstances.
More : Tax Accountants Sydney
Filed under Profit Recovery, Recovery Audit by on Aug 26th, 2010.
A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the spot in which the individual lives or where the business debtor is organized or has its principal corporate office or principal assets. (3) As well as the petition, the debtor should also file to the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement of financial affairs; and (4) a schedule of executory contracts and unexpired leases. Fed. R. Bankr. P. 1007(b).
Debtors must provide the assigned case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed over the course of the case (including tax returns for prior years that had not been filed when the case began). 11 U.S.C. 521. Individual debtors with primarily consumer debts have additional document filing requirements. They need to file: a certificate of consumer credit counseling and also a copy of any debt repayment plan developed through credit advice; proof of payment from employers, if any, received 60 days before filing; a statement of monthly net revenue and any anticipated surge in income or expenses after filing; including a record of any interest the debtor has in federal or state qualified education or tuition accounts. Id. A husband and wife may file a joint petition or individual petitions. 11 U.S.C. 302(a). Even if filing jointly, a husband and wife are subject to every one of the document filing requirements of individual debtors. (The Official Forms may be purchased at legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. They are not available from the court.)
The courts must charge a $245 case filing fee, a $39 miscellaneous administrative fee, and a $15 trustee surcharge. Normally, the fees ought to be paid towards the clerk of the court upon filing. With the court’s permission, however, individual debtors may pay in installments. 28 U.S.C. 1930(a); Fed. R. Bankr. P. 1006(b); Bankruptcy Court Miscellaneous Fee Schedule, Item 8. The quantity of installments is limited to four, and the debtor must make the final installment no later than 120 days after filing the petition. Fed. R. Bankr. P. 1006. For cause shown, the court may extend the time of any installment, provided that the last installment is paid not later than 180 days after filing the petition. Id. The debtor may also pay the $39 administrative fee and the $15 trustee surcharge in installments. If a joint petition is filed, only one filing fee, one administrative fee, and one trustee surcharge are charged. Debtors should be aware that failure to pay these fees may result in dismissal of the case. 11 U.S.C. 707(a).
If the debtor’s income is less than 150% of the poverty level (as defined in the Bankruptcy Code), and the debtor is unable to pay the chapter 7 fees even in installments, the court may waive the requirement that the fees be paid. 28 U.S.C. 1930(f).
In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must provide the following information:
1.A list of all creditors and the amount and nature of their claims;
2.The source, amount, and frequency of the debtor’s income;
3.A list of all of the debtor’s property; and
4.A detailed list of the debtor’s monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc.
For help with a Columbus Georgia bankruptcy, contact a bankruptcy attorney Columbus GA. A Columbus bankruptcy law firm could give you the help you need.
Filed under News by on Aug 26th, 2010.
You can compare a trend to a river. It is always easier to paddle in the direction of the river! Your speed of paddling can be assisted by the speed of the current. For if the current is real strong, you can make a fortune. What this means is that trading a strong trend can be highly profitable. But how do you determine whether the trend is real strong or not? Now, if the trend is real strong and persistent, it is very likely that big money of institutional traders is at work. Watch this Freedom Forex Formula videos that show how to build a $34 million forex account from scratch using nothing but simple forex methods. Download this special manuscript the explains the forex method in step by step detail FREE. You should not miss these forex training videos. They are full of premium content. Learn this Fibonacci Retracement method FREE that pulls 500+ pips per trade! Get this 1 Minute Forex Trading System FREE!
So how do you filter a strong trend from a weak trend? Now, we have said that the 10 day EMA is going to be our focus when trading strong trends. Wha we need to do is to add a filter based on this exponential moving average (EMA) in order to be sure that this is no ordinary trend.
So how do we know that this uptrend is a strong trend with big money driving the currency prices up and up? We will ue the 10 day EMA, the 20 day EMA, the 50 day EMA and the100 day EMA for determining the strength of the uptrend. The 10 day EMA should be above the 20 day EMA. The 20 day EMA should be above the 50 day EMA and the 50 day EMA should be above the 100 day EMA. In addition to that the price action should have been above the 10 day EMA for at least the lat 10 candles to confirm that this uptrend is indeed strong .
Similarly in case of a downtrend, the proper order of the EMAs should be 100 day exponential moving average above the 50 day exponential moving average that should be above the 20 day EMA which should be above the 10 day EMA. Plus the price action should be below the 10 day EMA for at least 10 candles to confirm that this a real strong downtrend .
Filed under News by on Jul 24th, 2010.
If you have a child linked to your health cover and the child is in the custody of your divorced partner, you will want to know how your cover can protect her. First you should know that the policy of the parent that the child is in custody of will be the primary policy. If such parent that has custody is married to someone else, that spouse will provide the secondary policy. After these will your policy be considered.
Shopping is a key step in securing of a good and affordable health insurance quote for you and your family. Don’t just commit to a policy based on media hype. Going through what is involved and the cost implications properly before you commit to advertised policies is the right approach to take, regardless of what anyone tells you.
As a former employee that is insured under your former company’s group health coverage plan, you can still enjoy the group plan months after you have resigned and have ventured into your own business. Although you will not enjoy the subsidy provided by your former boss, but it is still going to be cheaper than getting health insurance for individuals private policy sorted out. You have to make other plans as regarding your health coverage as you cannot enjoy this benefit for over 18 months.
The major causes of increase in health insurance are technological improvement in medical practices, higher demand for medical services and the increase in the age of the population. The good and effective way of reducing your health insurance premium is by appearing as a low risk customer to your prospective insurer. Your lifestyle determines how your insurer rates the risk you present. Smoking and excessive consumption of alcohol can make you appear at a high risk customer. So, stop such risky habits as soon as possible.
Many think they really know all about the indemnity health insurance, but they don’t. The indemnity health insurance requires that you actually pay for your health treatment. You will then be required to file your claims for reimbursement later from your health insurer. Other forms of cover may actually pay for the treatment you receive, deducting your deductibles. This is just one example of where getting insurance cover for health or affordable life insurance can get complicated, but it is worth persisting so that you get properly covered.
Insurance companies are business organizations too. They want to make profit while providing you with health cover. If you present a high risk condition to them, they may turn down your application for cover because your claims may end up being too costly for the company.
If you are among those Americans without health cover I implore you to get one. I know these covers may mean dipping deep into your earnings monthly, especially if you don’t have a job that provide health covers, but the truth is you’ll realize how important the cover is when the need to settle a medical bill arises. It sure comes everyone’s way once in a while.
Filed under Profit Recovery by on Jul 24th, 2010.
We all to get our hands on some great business opportunity. Work at home involves a lot more than that. If by ‘business opportunity’ we refer to the promotion of a great product, great collaborations with business partners and an optimal timing for the launch of the campaign, then, yes, that is real business opportunity. Work at home can only be profitable if you know your profession well, when you have solid education behind you and your skills are great.
Great richness with minimum effort is the great bait of the Internet. This is not what we’d call a real business opportunity. My advice to you is to be wary of any promise that is based on something other than hard work. The moment I see the word ‘opportunity’ in any advertisement I tend to be cautious. And I have good reason to oppose such business opportunity work at home chances. They can only be possible through manipulation.
Scammers exploit people’s greed, and the desire to make money quickly and without effort. When most people hear the word ‘opportunity’ they immediately think dollars. And most such ‘opportunities’ will be revealed to you the moment you pay some fee. What is the big mystery? For a few bucks you will get access to information that is otherwise available for free on the Internet. Scammers make money out of almost anything from affiliate marketing tips to Forex speculations and listings with companies that organize paid surveys.
Which leads you no where. It is difficult to believe in any other business opportunity work at home chance when you have been naive enough to waste your money. Had you used your better judgment you would have spared yourself the disappointment. Instead of hunting for opportunities you can commit yourself to seriously identifying those elements that you could use in your favor to start a viable and profitable home business.
As we’ve mentioned at the beginning of this article, the best way to actually create your business opportunity work at home chance is to use your experience, skills and expertise. Your business development should grow out of a short and long term plan. A fully functional home business can be grown in around a year or more, and you need to arm yourself with patience and positive thinking to actually enjoy the results of your work.
Filed under Profit Recovery by on Jul 24th, 2010.
You need to make yourself stand out from the others when going to a job interview. One of the best ways to do this is to show a detailed knowledge of the company to your interviewer.
You should start with the company’s website. Look and see what the corporate structure is, how long they have been in business, and try to get an idea of their business philosophy. If they have any big news or announcement, you can find this in their press releases. If you understand before going in how large or small the company is or how fast it is growing or shrinking, you will gain an edge in the salary negotiation.
Is this company known for being a great place to work with great employee benefits or not? This will let you know just how strong the competition may be to land that job. The flip side is to find out if the company has had legal or financial problems recently and how severe they might be. Remember, last in first out is usually the way it goes when layoffs occur.
If you are moving into a different industry, learn about it. You can use websites like bestjobvacancies.co.uk to find out about specific industries. This way you can speak intelligently about aspects of your field that may benefit their business. Knowing data or technical terms about the industry or company could help you stand out. But make sure you have got all of the facts correct. It could be very embarrassing to start a conversation about industry trends and have statistics from 20 years ago.
If you can, get to know a little bit about the business background of your interviewer. Make sure to learn titles, departments, and names of the people you are speaking with. Again, go to the company website and see if there is some biographical information on your interviewer or prospective department head. See if there is anything that you may have in common with them such as sports, colleges, or birthplaces. These types of things will help them remember you out of all of those other applicants.
Filed under Profit Recovery by on Jul 24th, 2010.
The slowdown season is experienced in just about each commercial sphere. So, no matter how successful your own business is, probabilities are that you will go through a slow sphase at some point or the other. However, you can take certain protective measures and techniques to help reduce the strain on the business and on yourself in this time period. Read on to discover how.
First and most vital thing that you need to do in this context is to keep a tab on the targets. For this you wish to bring down the target levels. It is because during the slowdown season, it is no point taking so much risk with your work. Start accepting the facts that the sales are certain to lessen in the slowdown period. Make sure that the employees too are educated about the changes made in the targets and the like. This could go ways in easing out their burden too. Struggling hard for unrealistic targets can only make the situation worse for you and the employees.
Work more during the peak season. You know there will be a downfall, so it is just reasonable that you make preparations for it in advance. Put in more effort during the peak season so you can make up for the losses that you are going to incur when the business gets slower. This may help strike a balance and keep your worries away. Since you have just made up for the slowdown season, you will not have your stress rising as the business begins to go slow.
Go in for promotions. They’re definitely a sure shot means to makes your business go great guns. It is advisable to keep all the discount schemes and special offers for the slowdown season of the year. There is no denial of the fact that the pocket friendly schemes can send an open invite to all the purchasers. This will prompt them to buy the things which they might not truly be needing. For example you’ve a business of the air conditioners you can sell them in winter season by introducing several discounts and offers. You will be stunned to see the increasing number of customers interested in making a purchase.
Pay close attention to advertising. Well, need of good and effective advertising is essential all through the year. The need of advertising becomes all the more in the slowdown season of the year. It is of course not going to bring a mega change in your sales. But it can surely not let the sales fall down to a large extent either. Always ensure that the cash that you shell out for effective advertising yields results which are equivalent in nature. After all, it is pointless to spend whopping mounts on the advertisement when you are well aware that the end results are not going to be good.
There is no point spending massive amounts on advertising, when the results are going to be beside the point. These simple tips joined with a little bit of planning will help you brave the slowdown season pretty well. And, if you still find it difficult to handle falling revenues, then go forward and plan a vacation with the family. By the time you are back, the slowdown season will be over and you can get back to minting money again.
Here is some more information on Best Dental Insurance and Caralluma Burn Weight Loss pills. Also read about customer testimonials on Weight Loss Exercise.
Filed under Profit Recovery by on Jul 24th, 2010.
During the course of the years, there have been a number of major changes in the field of wireless credit card processing. This is because more and more people see the need for this as a way to increase productivity in business. These gadgets used to be bulky and they often function poorly.But nowadays, because of the recent advancements that have taken place in the field of credit card processing, units now are more able to process payments with accuracy and efficiency. Several ones come in compact sizes that are small enough to fit perfectly in a pocket. This means they can be carried anywhere where processing payments are required.If receipts are necessary, these small but effective gadgets can be connected to any thermal printers.Having a gadget like this will lessen the transaction period and therefore, you will be able to handle more customers in less time.
A number of manufacturers also include various features that would be helpful to the consumer. A recording tool is just one of these features. This enables the merchant to examine the previous transactions when needed. In addition to that, a gadget like the usb card swiper comes with software which allows the frequent online shopper to save his credit card details and use it when it is time to make purchases online.
A suitable card processing terminal is a crucial piece of equipment for any kind of businesses which involve credit or debit card payment processing.Choosing a card terminal adds another dimension to the aspect of wireless credit card processing system. Selecting a card terminal is another important aspect in utilizing wireless credit card processing system.)The task of looking for the right terminal should be done carefully.The manufacturers or models vary in many ways.There are a number of applications and features available. A terminal can work perfectly for one type of business but fails to do well with another type.There are terminals that are fitting to the mobile businesses but worthless for the ones that have online payment transactions. That is why it is important that you have at least a basic knowledge about this matter before you finally acquire a credit card terminal.This could either be one of your greatest investments for your business or a mishap that will lose you a great amount of potential sales.
There are several important things you should keep in mind when choosing a credit card terminal. The first step in choosing is to determine the one that is exactly appropriate for your needs. On the whole; doing money transactions comes in three primary types. This involves online processing, mobile processing, and point of sale processing.The encryption software should be modified or updated whenever you need to. In addition to that, learning about the features that are included in a card processing terminal would be wise. These add-ons could give you a better ability to obtain more sales.
Filed under News by on Jul 23rd, 2010.