Mekorma Vendor Validation works together with Dynamics GP to save you time on critical Accounts Payable (AP) processes by using validation services to validate different types of vendor data during onboarding and on demand.
Depending on how you configure your thresholds, these validations can reduce corporate risk and assist in compliance efforts by preventing transactions that breach both Internal Revenue Service (IRS) and the United States Department of Treasury’s Office of Foreign Assets Control (OFAC) standards.
Validation results are compiled and displayed clearly in your system. The vendor validation services we currently offer are:
- TIN Matching: Verifies a vendor’s Taxpayer Identification Number (TIN) with the IRS, ensuring legitimacy and saving you stress.
- OFAC Screen: Compares vendor data with the OFAC Sanctions List. This list includes entities you want to avoid doing business with such as groups deemed a threat to the United States.
- Address Validation: Validates vendor addresses with Google Address Validation, for payment, shipping, and tax compliance purposes.
The process is simple to configure and runs with just one click.
If you get audited, Mekorma Vendor Validation shows auditing officials that the best efforts have been, and continue to be made, to meet compliance requirements.
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