Accounts Payable Recovery Audits: Consulting Study Process

  1. Planning meeting
    • Become familiar with the Client's AP, Receiving, and Materials Management flow
    • Customize the study process to meet Client's needs
    • Discuss computer data file needs

  2. Client Computer Data Files Analyzed
    • Accounts payable paid invoice history
    • Vendor Master (Address file)
    • Purchase Order Detail history
    • Vendor Electronic Invoice Files (if available)

  3. On Site Review and Analysis
    • Paid Invoices, Purchase Orders, Receiving and Returned goods documents, Purchasing and Service agreements are analyzed for potential recoveries.

  4. Potential Recoveries are reviewed with client for approval
    • Upon Client approval of each potential recovery, documentation is sent to vendor

  5. Monitor and document recoveries
    • Address vendor questions
    • Provide additional information where necessary

  6. Consulting Report
    • Present study findings
    • Discuss how overpayments occurred
    • Provide workable and functional recommendations

  7. Follow up as desired by client
    • Help implement recommendations
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The TWO AP recovery process is a thorough examination of transactions with vendors.