Yearly Archives: 2011

/2011

Lavante Thanks the ITLG for Recognizing Top Irish Leaders in Silicon Valley

Last week, Lavante’s CEO, Joe Flynn, was honored by the Irish Technology Leaders Group (ITLG). It is a well-deserved honor for him as both a technology innovator and as a proud descendant of the Emerald Isle. Joe was just one worthy recipient in the ITLG ceremony, surrounded by a many others who have all descended down from a proud and hard working culture. Lavante thanks the ITLG for creating this award, for shining a well-deserved spotlight on Irish and Irish-American leaders, and for recognizing our fearless leader Joe.

By | April 11th, 2011|Categories: Industry Associations, Recovery Audit, Lavante|Tags: , |0 Comments

Lavante Awarded The Industry’s First Statement Audit Patent

Last week, we announced that Lavante was awarded a new patent by the U.S. Patent and Trademark Office. Patent Number 7,908,188 was awarded on March 15 and covers Lavante’s statement audit processes, technology and software application. This is a huge step for Lavante and a huge step in fundamentally changing the recovery auditing industry.

US Senate Passes the House’s 1099 Repeal Bill, Goes Next to the White House

Today, the Senate passed the House’s 1099 repeal bill, H.R. 4, in an 87-12 vote. The bill will go directly to the White House where President Barack Obama will have the opportunity to sign or veto the bill.

By | April 5th, 2011|Categories: Tax ID Numbers, 1099 Reporting|Tags: , |0 Comments

PayStream Advisors Present Five Best Practice Steps for a Successful Statement Audit Process

Large enterprise accounts payable organizations manage millions of payments to thousands of vendors each year. Business changes including mergers and acquisitions, consolidation, and centralization, as well as new systems and automation mean that 100 percent payment accuracy is nearly impossible – even for AP organizations with the strongest controls. To identify the highest percentage of anomalies and recover the most dollars, it is necessary to investigate both a company’s internal AP data and processes, as well as its suppliers’ AR data and processes.

By | March 23rd, 2011|Categories: Recovery Audit|Tags: , , |0 Comments

IQPC Shared Service Week Puts the Focus on Supplier Information Management Process and Solutions

This blog presents several of the primary themes presented at the SSON conference that took place earlier this month.

By | March 15th, 2011|Categories: Shared Services, Supplier Information Management|Tags: , |0 Comments

Finance Professionals Roundtable About Changes In 1099 Reporting And The Inevitable Impact On Their Departments

In February, Lavante hosted a regional roundtable dinner discussion in the greater Dallas area. Joining the conversation were financial minds from Alcon, Flowserve, Trinity Industries, AutoNation, the BNSF railway, Occidental Petroleum, Lehigh and Genband, who gathered together to discuss critical issues facing their company and departments. A lively discussion was held over dessert about “What [...]

By | March 8th, 2011|Categories: Tax ID Numbers, 1099 Reporting|Tags: , |0 Comments

House Approves Repeal of 1099 Reporting Requirements

Today, the House passed the H.R. 4 bill in a 314-112 vote, repealing the 1099 reporting requirements from the funding provision of the 2010 health care law. The bill eliminates the requirement that all for-profit corporations issue 1099 forms to vendors from whom they purchased over $600 of goods or services in a tax year, [...]

By | March 3rd, 2011|Categories: Tax ID Numbers, 1099 Reporting|Tags: , |0 Comments

Ongoing Supplier AR Review, or Statement Audit, as a Best Practice

Transactional errors result in millions of dollars worth of accounting anomalies for F1000 companies each year. With millions of payments to thousands of vendors, business changes, new systems, and complex purchasing environments, 100 percent payment accuracy is nearly impossible – even for AP organizations with the strongest controls. More and more, AP and Shared Services [...]

By | February 22nd, 2011|Categories: Recovery Audit, Vendor Statement Audit|Tags: , |0 Comments

1099 Provisions Revised, Not Repealed in Obama’s 2012 Budget

President Obama released his proposed fiscal year 2012 budget this week. The budget contains a portion of the 1099 provisions from the 2010 Patient Protection Affordable Care Act (aka, the health care law). As a refresher, the funding provision of the health care law requires all for-profit corporations to issue 1099 forms to vendors from [...]

By | February 18th, 2011|Categories: Tax ID Numbers, 1099 Reporting|Tags: , |0 Comments

Understanding the 1099-K Reporting Changes Now in Effect

Last week, I introduced six initiatives AP and Shared Services could implement to drive organizational efficiencies in 2011. This week, I’d like to focus on the 1099-K reporting changes that went into effect in January of this year. This change was part of the Housing Assistance Tax Act of July, 2008. It was better known [...]

By | February 10th, 2011|Categories: Tax ID Numbers, AP Industry, 1099 Reporting|0 Comments