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The payment process is fraught with opportunities to make mistakes - errors that will directly impact your company's bottom line. For the most part, they are easy to avoid. The key is knowing what they are and then devising best practice processes to make sure you don't inadvertently make them. You'd be surprised how frequently this happens, even at the best run organizations.In this course, we examine the common problems of losing early payment discounts (very expensive), incurring late fees, making too many rush payments (inefficient and costly), and the problems associated with the practices of making rush payments and returning checks to requisitioners. Both demonstrate weak internal controls and make the payment process inefficient. Strategies for minimizing or eliminating these issues are included.We close by taking a look at inaccurate payments and payment audits. Although many organizations have made huge strides in minimizing duplicate and other improper payments, they continue to be an issue. What's more, some organizations stick their head in the sand and refuse to believe this is an issue. It is. Saying you never make a duplicate payment is like saying you never make a mistake.