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DUPLICATE PAYMENTS

Surprisingly, most businesses occasionally make duplicate payments to suppliers.  In an ideal world all payments would be generated by a robust finance system.  In reality, manual payments are common and inherently risky.  Excel is an ideal tool for minimising risk, but requires some knowledge of formulas and formatting.  It should be very easy to spot a straight duplicate where all details match and this can be spotted with a crude tool.  However, human error can result in values, supplier names and other fields having typos and thus appearing similar.  Magnify Excel can identify and prevent the vast majority of such errors by identifying fields with similar but not identical entries.  A variety of techniques can then be used to flag entries that are most at risk of being duplicated.

 

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