Bookkeeping

Collaborative Audits, Clear Results

duplicate payment recovery

These services often charge high fees and take a https://kollopc.ro/2022/01/31/depreciation-a-beginner-s-guide-with-examples/ percentage for every error they find. So, if you’ve overpaid by $2,000,000, your recovery firm will take $400,000. At Xelix, we find that on average 0.3% of a company’s spend is lost to duplicate payments alone. Not to mention, these mistakes might be due to new team members, suppliers, or even fraud. Regardless of why they happen, AP teams find themselves with problems like inaccurate vendor data, inaccurate invoice processing and duplicate payments.

Reclaiming Lost Funds through a Duplicate Payment Recovery Audit

  • A commercial invoice is an essential document that contains various detailed business information.Here is a detailed guide to creating a commercial invoice.
  • Send reminders at regular intervals, with any applicable interest and fees added due to late payment.
  • Yet payment failures are part and parcel of the accounts receivable process, and when they happen, your business will need to initiate the payment recovery process.
  • Auditec Solutions distinguishes itself through a collaborative, results-oriented approach to recovery auditing, offering superior delivery and clear communication.
  • Electronic funds transfers via peer-to-peer apps can also lead to duplicate payments due to minor glitches.
  • Sometimes invoices are sent through multiple communication channels and addressed to multiple people in different formats, which causes confusion.

This guarantees that everything we publish is objective, accurate, and trustworthy. Supports long-term financial control by highlighting process improvements. Your in-house systems may stop the obvious examples, but there are usually a lot more well-hidden items waiting to be recovered, our Duplicate how to prevent duplicate payments Payment Audit will do just that.

duplicate payment recovery

Request for Refund Due to Duplicate Payment

  • I have already contacted my bank, and they are standing by to coordinate the return transfer once you confirm receipt of the excess funds.
  • Recoveries from your suppliers can vary based on numerous factors, however, on average, you can expect recoveries to be approximately .1% or $1 million for each $1 billion in annual revenue.
  • Their web-based Claims Approval System, The Vault, monitors and tracks claim production and supplier and internal communications, and it produces real-time reporting.
  • Yes, our tools are designed to detect a wide range of discrepancies, including overpayments, underpayments, and fraud.
  • A complete audit trail will show who was involved in each part of the payables process, from invoice receipt to payment.

Overpayments quickly add up to a significant amount and if not captured, will result in lost profit to your organisation’s bottom line. Our company has partnered with Strategic Audit Solutions, Inc. for 10 years. They have identified and helped us recover a significant amount of errors made in payments to our suppliers.

auditec solutions

duplicate payment recovery

If a payment deviates from the past pattern for that vendor, our platform will https://www.bookstime.com/articles/return-on-investment-roi flag that something is afoot. Our platform would also detect that these invoices are the same and would flag the duplicate before payment is made. We work completely on commission only, no additional costs will be charged to you. During the recovery audit project we will recover liquidities, identify risks and we will recommend process improvements.

duplicate payment recovery

Overpayments can happen for various reasons, from billing errors to duplicate transactions, and addressing them promptly is essential. This article provides 17 professionally written refund letter samples you can use to formally request a return of excess funds. Revenue growth for many companies occurs through acquisitions and mergers.

duplicate payment recovery

D95 News 2021-2022Inner Wheel Club of SphinxIWC Of Sphinx ProjectsProjects 2021 – 2022

IWC of Sphinx, Projects, 2022

Sunday, February 13, 2022
Inner Wheel Club of Sphinx , headed by Mrs. Amani Ezzat, participated as one of the official sponsors in the opening ceremony of the Butterflies Challenge exhibition, represented and organized by colleague Mrs. Hanaa El-Sadat, Chairman of the Board of Trustees of Yasmine Al-Samra Charitable Foundation – Debra Egypt.
It is considered the first art exhibition for patients with Epidermolysis Bullosa in Egypt and worldwide.
The Art Exhibition and opening ceremony was at the Russian House in Cairo.
The ceremony was attended by the Russian cultural manager, a group of journalists, and the guest of honor was the International Soprano Singer Mrs. Amira Salem.
The paintings and crafting products of the EB children were displayed.
Mrs. Hanaa El-Sadat presented the role of Yasmine El-Samra Foundation in helping children suffering from this disease and giving awareness for their families.
It was a meeting filled with warmth and affection.
Inner Wheel Club of Sphinx donated 10,000 Egyptian pounds to the foundation.
Our wishes always with more success and hope for a CURE to EB patients.
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Inner Wheel Club of El-GeziraIWC Of Gezira Sporting ProjectsProjects 2021 – 2022

IWC of Al Gezira Sporting Club , Projects, 2022

Under the slogan “Women First”
Inner Wheel Club of Al-Gezira Sporting Club, headed by Mrs. Wafaa Zaki and the club members established a workshop for ” Girls and Women’s Education” in Nahdat Al-Mansouriah Association in the Mansourieh region.
The club donated 5 sewing machines and a quantity of raw materials such as fabrics and accessories.
On Saturday, February 12th, 2022, the workshop was opened by Mrs. Wafaa Zaki, president of the club, with Mrs. Hala Hagrass, Chairman of D95 Egypt and Jordan, and in the presence of:
Mrs. Mona Aboul Fotouh, Honorary secretary for District 95
And Mrs. Mona Aref, the PC D95 2019/2020
And Mrs. Nihal Al-Bakry, D95 Deputy National Representative ،
Mrs. Zeinab Taki PC D95,
Mrs. Noura Fayek, Past Honorary Secretary for D95,
Mrs. Nagwa Kandil, President of the Inner Wheel Club of Mansoura,
Mrs.Azza Selim, President of Inner Wheel Club of Garden City ,
Mrs. Azza Al-Mufti, Past Honorary Secretary of District 95,
And a group of members and past presidents of the club.
The exhibition included the products of the trainees in the workshop, such as mattresses, towels, crochet works and embroidered pillowcase, which won the admiration of everyone, as well as an exhibition of used clothes at nominal prices for the people of the region.
The members of IWC of Al Gezira Sporting Club will take over and sponsor the project and it will be ensured as the club’s sustainable projects.
CD95 Mrs. Hala Hagrass, praised the club’s projects and efforts done by the club members and wished everyone a successful year.
The meeting prevailed in an atmosphere of friendship, love and intimacy.
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IWC OF ZAMALEKIWC Of Zamalek ProjectsProjects 2021 – 2022

IWC of Zamalek, Projects, 2022

Members of Inner Wheel Club of Zamalek headed by Mrs. Hoda Malash donated the Homeyat Hospital in Abbassia an EKG machine and an electric shock device amounting to 76000 LE. ( Seventy six thousand pounds) .
Thanks to our distinguished club members for their generosity and hope we could always be of help to any needed patient.
Activities 2021 - 2022Inner Wheel Club of PhiladelphiaIWC Of Amman Philadelphia Activities

IWC of Amman Philadelphia ,Activities, 2022

Inner Wheel Club of Amman Philadelphia headed by Mrs. Nazi Copty Faris and a number of club members celebrated Valentine’s Day by visiting the Tiraz Museum (house of Mrs. Widad Kawar for Arab Dresses).
The walls and halls of this museum are adorned with Jordanian, Palestinian and Syrian heritage of dresses, handicrafts and beautiful fabrics.
Miss Laila Mushahwar took the members on a tour in the museum and spoke in depth about the beautifully embroidered dresses and what they symbolize.
The club donated the proceeds of this program to the Nour Al Baraka Association, represented by Mrs. Olga Najma, who gave an idea about the association and its goals that work to empower young people with special needs, and positively integrate them into society by marketing everything the family needs from healthy products free of preservatives in Noor Al Baraka Market in Princess Iman Garden in Rabieh.
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Inner Wheel Club of PetraIWC Of Amman Petra ProjectsProjects 2021 – 2022

IWC of Petra, Projects,2022

On February 13th, 2022, IWC of Petra headed by Mrs. Lynne Farrad Muasher, made a donation to the Sama Gaza Association for Community Development, in support of the center established in the camp, which works to establish sports, cultural and artistic activities for the camp’s children.
The check was received by Mrs. Heba Khoury, the representative of the association, who thanked the members of the club for their continuous support to the children of the camp.
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Activities 2021 - 2022Inner Wheel Club of AlexandriaIWC Of Alexandria Activities

IWC of Alexandria , Activity 2022

On Monday, February 7th, 2022, members of Inner Wheel Club of Alexandria headed by Amal El Gytani met at Sporting Club for lunch to celebrate Mrs. Hoda El-Deeb, one of the club’s founders and one of the pioneers of social activity in D 95 Egypt and Jordan, and in honor and appreciation of her outstanding contributions and continuous giving.
CD95 Mrs. Hala Hagrass gave her a Shield of appreciation on the celebration of IIW day on January 10th.
The celebration was in a beautiful sunny atmosphere, and it was further enhanced by the feelings of amiability and spirit of love between the members which everyone felt
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Activities 2021 - 2022Inner Wheel Club of Sharm El SheikhIWC Of Sharm El Sheikh Activities

IWC of Sharm El Sheikh, activities, 2022

On February 7th, 2022, Mrs. Hala Hagrass, Chairman of District 95, Egypt and Jordan, had her official visit to IWC of Sharm El Sheikh, accompanied by Mrs. Mona Aboul Fotouh DS and Mrs. Reem Nazih, DISO.
They were welcomed by Club President Mrs. Maha Ragab, and PP Mrs. Nora Fayek, and the founding member of the club with PPs as well as club members.
Mrs. Maha Ragab, kindly provided an overview of the club’s charitable work that serves women, children and people with special needs, whether in terms of the club’s sustainable projects that it sponsors year after year or the new projects in which it contributed, whether with the District or clubs or individually .
Mrs. Hala Hagras kindly provided a quick summary of the District’s projects for this year and her vision for developing the IW Clubs in Egypt, contributing to national projects & development, and helping the Government perform its role in serving the community and the less fortunate people.
The Chairman of District 95 , praised the club’s projects and effort, and wished everyone a successful year.
The meeting prevailed in an atmosphere of friendship, love, intimacy and fun.
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Friendship Without BordersInner Wheel Club of SphinxIWC Of Sphinx Activities

IWC of Sphinx , Friendship without Boarders, 2022

Inner Wheel binds up people with friendship and service and as an ISO, I am so delighted that i have got the opportunity to make friends with hundreds of most energetic and supportive people within Inner Wheel.
Getting to know, exchange club pennants and discussing of club activities, etc… virtually with this lovely, lively, energetic and friendly Hanaa Elsadat / Webmaster of D95 of Egypt and Jordan and member of IWC of Sphinx  was such a great moment for me.
On behalf of IWC of Ja ela Kandana my wishes go out to Hanaa and her club for an eventful IW year of 2021/22.
Dayani Emmanuel
ISO Ja ela Kandana
District 322 Sri Lanka 
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IWC Of Alexandria Mediterranean ProjectsProjects 2021 – 2022

IWC of Alexandria Mediterranean, Projects 2022

On February 3rd, 2022, members of IWC of Alexandria Mediterranean headed by Mrs Mona Abadeer visited Al-Amal Village (Village of Hope) for Development and Rehabilitation for Youths with special needs in Borg-Arab Alexandria to plant 6 fruitful trees and provide financial support to help the association to carry on their mission.
Al-Amal Village (Village of Hope) is registered with the Ministry of Social Affairs, it aims to train and rehabilitate youths with special needs and integrate them into society by training them craft workshops in the agricultural field, automated bakery, carpentry workshops, livestock and poultry farming and packaging.
It is worth mentioning that the founder of Al-Amal Village (Village of Hope) is Mrs. Nada Thabet a member of the Parliament who has been granted several awards from international institutions for her great voluntary achievement.
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