Monthly Archives: September 2010

//September

Lavante and Ariba highlighted for New Cashflow Metrics

AP Matters Magazine highlighted Lavante in a recent article in their September/October edition. The Article features conversations with executives from Lavante and Ariba discussing how their firms are creating new cash flow metrics that are helping financial executive watch there bottom line a little more closely. Joe Flynn, CEO of Lavante discussed how Lavante's DCO [...]

FREE – 1099 Reporting Changes Webinar – September 17, 2010

FREE 1099 Reporting Changes Webinar Attend a free  webinar to help you understand the effects that the new 1099 laws will have on your company and department. The presentation will be hosted by Sherry DePew the former head of Boise Cascade's global  Shared Services Group and Mindy Harada a renown tax consultant with Armenino McKenna [...]

For Consumers, Online Bill Payment Is Becoming Mainstream

That’s one conclusion from Fiserv’s 2010 Billing and Payment Trends Survey, which was completed in January by more than 3,000 individuals. Some highlights: About four out of five households pay at least one bill online through their financial institution. Overall, about one-fourth of all bill payments were completed online, up from about 7 percent in 2000, and nearly equal to check payments, which came in at 26 percent. In 2000, just over half of all consumer payments were completed via checks. […]

By | September 9th, 2010|Categories: Technology|0 Comments

IAPP Coverage of Lavante Supplier Information Management – Lavante SIM

Last week Lavante got some excellent coverage by AP Matters editor Diane Sears about Lavante's Supplier Information Management product, Lavante SIM. Sears makes a number of very compelling observations about the need for SIM in the current corporate environment and she does a great job explaining how corporations that are faced with increasing TIN collection demands  can achieve [...]

Burr Pilger & Mayer’s comments on new 1099 Reporitng Laws

Recently Burr, Pilger & Mayer LLP published an article discussing the new 1099 tax laws that were passed in this year's Patient Protection and Affordable Care Act (PPACA).  The new law is an expansion of Internal Revenue Code 6041, which currently requires Form 1099-MISC only for purchases of services and specifically excludes reporting transaction with [...]

By | September 1st, 2010|Categories: AP Industry, 1099 Reporting|0 Comments

Wachovia Bank wins positive pay lawsuit

If your firm hasn’t installed positive pay, you should seriously consider doing so. That’s one lesson to be learned from a recent case involving Wachovia Bank and its client’s insurance company. According to this summary of the case by Greg Litster, president of SAFEChecks, and Frank Abagnale of Abagnale & Associates, Wachovia came out the winner in a lawsuit against its customer’s insurer, after the payee on one of the company’s checks – for more than $150,000 – was altered. Wachovia’s client, Schultz Foods Company, had demanded that Wachovia cover the loss, saying it had processed the check in violation of the Uniform Commercial Code. Wachovia refused, noting that the company had repeatedly refused to implement positive pay, which would have picked up on the altered name. In fact, the company had been a victim of check fraud several times before the incident that led to the suit. Wachovia had covered those losses. […]

By | September 1st, 2010|Categories: AP Industry, Recovery Audit|0 Comments