Accounts payable fraud risks finance and security and is an ever-growing threat for businesses. With increasingly sophisticated methods, fraud can go undetected for months – or even years – unless robust fraud detection and prevention controls are in place. At Westgate Moore Associates (WMA), we specialise...
Managing accounts payable (AP) effectively is critical to maintaining financial accuracy, compliance, and operational efficiency. However, even the most well-run businesses are susceptible to payment errors, financial leakage, and fraud if audit best practices are not in place. At Westgate Moore Associates (WMA), we’ve spent over...
Late or missing invoices can be a significant challenge for businesses, leading to cash flow issues, strained supplier relationships, and unnecessary financial stress. Whether caused by human error, misplaced paperwork, or inefficient systems, these disruptions can quickly escalate if not managed effectively. At Westgate Moore Associates...
What Is Overpayment in Accounting? An overpayment occurs when an invoice is settled for more than the amount due. These discrepancies can happen for various reasons, such as duplicate payments, manual entry errors, or miscommunication between businesses. Overpayments may appear to be minor inconveniences, but they...