Topic:
From W-9 to First Payment: Prevent Errors, Fraud, and 1099 Rework
Speaker:
Jeffery Cronin (Chief Strategy Officer, Zenwork)
Description:
Many vendor payment problems can be traced back to the first step in the process: vendor onboarding.
Incomplete W-9s, inaccurate tax information, unverified banking details, inconsistent vendor records, and missing approval documentation can lead to failed payments, duplicate vendors, reconciliation issues, fraud exposure, and time-consuming 1099 corrections.
In this session, Jeffrey Cronin will explain how AP and finance teams can build a more controlled vendor onboarding process that supports every downstream activity – from vendor onboarding and payment processing to reconciliation and year-end reporting.
Attendees will learn how to collect and validate essential vendor information, establish appropriate approval controls, protect payment detail changes, and maintain an organized vendor record throughout the relationship. The session will also demonstrate how Zenwork Payments connects vendor onboarding, payment approvals, ACH and check payments, accounting sync, and 1099-ready records in a single workflow.
Key Takeaways:
- Identify the vendor onboarding issues that commonly lead to payment and reconciliation errors.
- Create a more complete and consistent vendor record before the first invoice is paid.
- Use approval and verification controls to reduce the risk of fraudulent vendor or banking changes.
- Connect vendor onboarding information to payment approval, ACH and check payments, and accounting records.
- Collect W-9 and tax information earlier to reduce year-end 1099 corrections and vendor follow-ups.
- Build a documented onboarding-to-payment workflow with greater visibility and accountability.
- Use Zenwork Payments to manage vendor onboarding, approvals, payments, accounting sync, and 1099-ready records in one connected process.
Speaker
Zenwork