Frequently Asked Questions

What will you need and for how long?

We need enough space for our reviewer/s to work. This can be very temporary facilities such as a boardroom that is not being used, to an empty office. The key point is that it is important to have access to a phone/fax and copier. The length of time on the A/P Review depends on the file system, number of files, and the lost revenues we are recovering for you.

What about the confidential files and information?

This business is done by professional accountants whose code of ethics pledge that your files will remain strictly private and confidential. AP Chexs’ business is based on our professional responsibilities to the client. We cannot afford to have any violation of your trust. All files are reviewed on site.

What if we find a problem in the A/P system?

If AP Chexs finds a problem in your payables system we will let you know immediately so that action can be taken to correct the problem. Weekly meetings and advanced agendas are given to notify you of weekly results.

How much are we involved?

Your company’s participation will be to have someone from each geographic area we cover attend a 20 minute pre-review meeting to acquaint our people with your system and the physical layout of the files, fax, phone and copier locations. We consider it important to form a partnership to make improvements in your A/P system. When we find an overpayment, AP Chexs prepares charge-backs with appropriate documentation to get permission to contact vendors for verification. When permission is granted by you at our weekly claim approval meetings, AP Chexs then sends documentation for verification and seeks payment by cheque, credit memo, debit memo or goods in lieu of money owed.

Does AP Chexs take care of correspondence with vendors?

With your permission we take care of vendor contacts under your company’s name relating to our charge-backs. Our professional auditors’ core competency provides them with skills in the art of vendor interface. They can handle all correspondence in a timely and knowledgeable manner while always being businesslike and courteous to your vendors.

Does AP Chexs work on the premises?

We work at the client’s place of business. We also work at storage sites for archival files.

How many people will be on site?

Most of the time one person is on site. We have found that at many locations space is at a premium and using one professional is the most efficient way to handle the work.

Is there any sense of urgency about when we should get AP Chexs to do the Accounts Payable Review?

Yes, there are several important issues to consider. The Statute of Limitations may be running out on tax issues (ex: GST trying to move overpayment ruling to 2 years from 4) . The sooner the A/P Review begins, the sooner lost profits can be recovered. AP Chexs cannot predict when one client’s review will begin and when the next review will start. There is usually a 2 to 3 week window.

How many years of A/P does AP Chexs review?

We begin a new client by doing a four-year review, beginning with the most recent year and working back into the previous three years. An example of this would be that we start with the current years files and work back from there. Our clients have requested taking advantage of the 4 year ruling on GST.

Does AP Chexs file everything back?

All client files are returned in the best possible order. Clients have told us that they would have hired us to clean up the file system.

How does AP Chexs know if the vendor claims are collected?

During the follow-up claim approval meetings, our people, working with the contract signer or designate, will be informed that current payments for deductions or credit memos, deposit records for refunds, and purchasing for goods in lieu of overpayments against a charge-back have been completed. As professionals in this field our fax/phone methods have received an average of 97% charge-back returns.

Who keeps track of the charge-backs?

At the end of each site review of the A/P files we provide an agenda of charge-backs that have been found and documented. The contract signer or designate, verifies the charge-backs for claim. We then begin the process of collection and the overpayments are returned in the form of cheque or other refund. At the end of the review a complete summary of the charge-backs is made. This summary lists all the items still to be collected, plus a mini-management report on all the charge backs and claim codes identified in each category and vendor listing.

How much follow-up does AP Chexs do?

After the A/P Review is completed the senior reviewer will check with you on a regular basis to handle any further follow-up required. We also will go over the mini-management report dealing with all observations and suggestions found.

What accounts payable do you look at?

AP Chexs looks at all the accounts payable. This will include contracts, capital expenditures, consulting service agreements, utilities, freight, expense items, GST, any item that would cause a cheque to be written (except payroll, expense and intra-company accounts).

Does AP Chexs take any records off site?

In order to maintain confidentiality of your records we work on site and only work the regular business hours of the company.

What if you find fraud or collusion?

We will immediately notify you of any finds and suspicions. We will work with you according to your desires to resolve the situation. Everything is handled very discreetly and professionally.

How much do you find?

As professionals whose core competency is Accounts Payable Reviews, we always will find something. How much depends on a number of variables that need to be gone over either with an initial computer examination or by physically going through every file.

How does the company get their money back from the vendor?

You will receive a refund cheque, a credit memo, an invoice deduction from a current invoice, or goods or services in lieu of refund.

How is AP Chexs paid?

AP Chexs is paid when you get paid. When you receive payments for the charge-backs sent out, we will invoice, but not until.