Definition: A type of accounts payable (AP) error that occurs when a vendor or service provider is paid more than once for the same invoice or obligation.
Example: An example of a duplicate payment would be the same invoice being processed and paid twice due to data entry errors or lack of invoice matching controls.
Explore IVP Accounts Payable Services
IVP Accounts Payable Services helps buy-side firms detect errors like duplicate payments, among others. This service streamlines vendor management, invoice processing, and expense allocations with advanced automation. Offered as a managed service in tandem with Expense Allocation System (EAS)™ by IntegriDATA, an Indus Valley Partners company, IVP AP Services help firms manage labor-intensive tasks like invoice processing and transaction handling while maintaining full control and oversight.
