Not understanding the nuances of the three critical accounts payable documents has caused more than a few accounting professionals countless hours of anguish. For one tiny misstep with regards to these documents can translate into duplicate payments, paying for something the supplier is supposed to pay for, paying too high a price or even worse, fraud. This means countless hours spent trying to get money back, fix mistakes or even more grueling, explaining what went wrong to management. To help you avoid all of these fates, let’s look at the documents, the potential problems and what you need to do to avert those headaches.

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