Testing for duplicate payments always has the potential for high payback and its benefits can be clearly demonstrated. Such a review can identify cash savings for an organization. Duplicate-payment audits provide a superb opportunity to meet this success metric and, if you do it right, pay for your department for the next few years.

The International Accounts Payable Professionals and The Institute of Management & Administration estimate that the average company’s duplicate payments reach one-tenth of one percent of its spending. While this may sound negligible at first, a company that spends $10 million annually is paying out $10,000 annually in duplicate payments.

Example screen shot:

In a nutshell

Identify potential duplicate payments which might otherwise be overlooked. Criteria used is payments with "near misses" due to transposed invoice numbers, near dates, split payments, invoice number sequences, etc.

Features

• Match payments based upon transposed invoice numbers
• Highlight "split payments"
• Identify similar payments where invoice number differs only by suffix
• Automatic identification process

Benefits

• Identify potential overpayments which otherwise would be missed
• Fast - process records at a rate of 300 - 400 records per second
• Unlimited file sizes may be processed
• Large files can be processed overnight

Screen Shot

See example scripts and output for duplicate payments.

The Proc CR procedure is part of EZ-R Stats for Windows - Professional Edition. View an overview of EZ-R Stats for Windows. Download EZ-R Stats for Windows and other products.

Analysts interested in Proc CR may also be interested in Proc SSS and Proc Outlier.