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Centralized Chart of Accounts: An AP Best Practice

Centralizing the set up and maintenance of the chart of accounts is an APQC best practice for Accounts Payable. The centralization creates an internal control.

Type: Best Practices and Business Drivers  Topics: General Accounting and Reporting, Finance and Accounting, Accounting, Internal controls, Auditing, Accounts Payable  Processes: 8.0 Manage Financial Resources, 8.3.1 Manage policies and procedures, 8.3 Perform general accounting and reporting, 8.3.2.1 Maintain chart of accounts, 8.3.2 Perform general accounting, 8.3.4 Perform financial reporting, 8.6.1 Process accounts payable, 8.6 Process accounts payable and expense reimbursements 
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