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AFP Publications
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Standards Set - AFP Guide to Account Analysis and 2004 AFP Service Codes
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Members:
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$395.00 |
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Non-Members:
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$495.00 |
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Format:
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Book and CD-ROM |
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Summary
Order both the AFP Guide to Account Analysis and the 2004 AFP Service Codes to get the tools you need to compare and analyze service volumes and prices and spot errors.
AFP Guide to Account Analysis: Statement Standards and Transaction Set 822 Implementation Guide
This valuable publication helps companies understand and evaluate their balance position and bank charges. It establishes AFP standards for reporting bank balance and compensation information. It also contains detailed instructions on how to report data electronically in Transaction Set 822, the EDI account analysis format. Other features include analysis questionnaires and a glossary of terms available online.
2004 AFP Service Codes: A Standard for Reporting and Analyzing Bank Compensation
The 2004 AFP Service Codes provide standardized references and terms for identifying, describing and reporting bank services and associated charges. They also simplify the review of RFPs, and electronic and paper account analyses. The 2004 updates include more than 350 new and 200 modified AFP Service Codes, as well as two new product families for payroll card, and electronic bill and invoice presentment services. The CD-ROM is fully searchable and enables the user to display, print or export Services Codes meeting user-defined criteria.
Excerpt
A definition of terms and an understanding of the various components are critical to proper use of the account analysis statement. Of equal importance is proper compensation for the services performed by the bank. Questions that need to be addressed in this regard include:
"How should the organization pay for these services?"
"Should it pay by fees, by balances, or a combination of the two?"
Two issues need to be investigated before these questions can be answered.
- Do collection and disbursement patterns allow the organization to minimize balances in its account?
- Does the organization use available information-retrieval products to gain an accurate and timely
assessment of its balance position?
If the answer to these questions is yes, then the organization may wish to explore the alternatives to
compensating by balances. Under normal conditions, other investment alternatives offer higher rates of
return than the earnings allowance rate that banks allow against collected balances.Under this scenario, it is advantageous to pay by fees and put balances to work in higher-earning assets.
Interested in this product? AFP also recommends:
AFP Guide to Account Analysis
2004 AFP Service Codes: A Standard for Reporting and Analyzing Bank Compensation
Essentials of Treasury Management, First Edition
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