Tipalti

Chad Morris

About Chad Morris

Chad is a financial writer with expertise in how technology drives and shapes businesses. When he isn’t writing expert content for Tipalti, Chad can usually be found managing his investments or building a new home computer.

Wepay vs Stripe

Stripe offers a large selection of online and point-of-sale payment solutions, while WePay’s products and services are more limited in scope and mostly targeted towards online payments; although the company has recently rolled out POS support. WePay is slightly cheaper for card-not-present transactions; its fee is 2.9% + $0.25, while Stripe charges 2.9% + $0.30.

Electronic Money (e-money)

Electronic money is a digital store of a medium of exchange on a computerized device. E-money can be used for payment transactions, with or without bank accounts. The great advantage of course is a cashless payment system that makes money transfers of any size quick and easy.

Full Cycle Accounts Payable

Full cycle accounts payable, as the name implies, is the complete cycle that an accounts payable department goes through to complete and archive a purchase. This journey includes:

Source-to-pay

Source to pay (S2P) is a business process that obtains services or raw materials from suppliers using strategic sourcing and concludes with the payment for those goods and services via the accounts payable office. Procure to pay (P2P) is a similar process that doesn’t use strategic sourcing.

W8BEN

The Internal Revenue Service requires W-8BEN because foreign individuals are normally subject to a 30% tax withholding, but they may qualify for a reduced rate of taxation. W-8BEN helps to establish this eligibility, although other factors also play a role, such as type of income.

Multilateral Netting

Multilateral netting offers busy AP Offices more advantages than disadvantages.
With the many digital AP management tools available on the market today, busy offices shouldn’t have to pour through hundreds or even thousands of invoices every month. A netting system makes processing large volumes of intercompany payables faster and easier, thus resulting in more efficient
AP departments.