A Certified Public Accountant (CPA) is the highest standard of competence in the field of Accountancy across the globe. A CPA (or Certified Public Accountant) is a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals. Whatever that goals-saving for a new home, opening a new office, or planning a…View Details
Accounts Payable Training
Accounts Payable Training
Accounts Payable (AP) is not just processing checks, mailing them and then filing the backup paperwork. To honestly and efficiently manage accounts payable, one must understand the AP department’s building blocks including, but not limited to customer service, vendor management, check requests and Purchase Orders (POs).
This course will discuss how to handle invoices, process checks, prevent errors, conduct annual audits, and use technology in the department. You will also learn the best practices to adopt in your AP department and how to develop your department into an active business partner.
This training seminar provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state of the art levels.
The organization of the accounts payable function and the management of the accounts payable role are of vital importance to the effective control of working capital and therefore cash flow. Documented strategies and tactics employed by highly admired companies are presented both successful and unsuccessful to illustrate the real-world functionality of each process and approach.
This AP training course provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state of the art levels.
Documented strategies and tactics employed by highly admired companies are presented both successful and unsuccessful to illustrate the real-world functionality of each process and approach.
By attending this Strategic Axis training course, delegates will understand:
*The importance of the accounts payable function about its links with the supply chain and cash flow
*The integrated systems of purchase order processing, stock (inventory) control, purchase ledger and cash payments and their links with the general ledger
*How to efficiently manage cash and working capital to reduce costs and improve cash flow
*The impact of risk and uncertainty on the business and its impact on accounts payable and cash flow
*How leading companies from across the globe are achieving best practice in Accounts Payable
This course is accredited by NASBA.
You might be interested in another Finance and Accounting programs as a next step.
- COURSE TYPE Practitioner
- COURSE NUMBER
- DURATION 5 days
- COURSE ACCREDITED BY NASBA
YOU WILL LEARN HOW TO
The accounts payable training course will provide the theoretical background and techniques that underpin the organization and management of accounts payable and its related functions. It will provide a real-world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.
By the end of the course, participants will be able to:
-Identify the function of accounts payable and its role in organizations
-Use accounting principles related to accounts payable
-Describe how to take a successful leader in the management of accounts payable
-Assess AP operations and processes and recommend improvements using the latest best practices
-Evaluate main issues affecting AP staff in order to increase their efficiency and productivity
-Apply tools and techniques in Microsoft Excel to effectively manage and monitor AP performance
IMPORTANT COURSE INFORMATION
Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
This course is worth 25 NASBA CPEs.
Module 1: The Important Role of Accounts Payable (AP)
The Meaning of Managing Accounts Payable
The Functions of Management
The Big Picture: Accounts Payable and the Financial Health of Organizations
The Functions of Accounts Payable Department and Role of AP Staff
Accounts Payable Impact on Working Capital and Cash Management
Module 2: Accounting Essentials for Accounts Payable
Accounts Payable Terminology
General Ledger and Sub-Ledger
Preparing for Month End Close and Accruals
Invoice Handling and Approval Processes
Verifying invoice data
Paying “low value” items
How to avoid duplicate payments
Making the best use of staff time: limiting telephone calls to AP
Does Petty cash management belong to Accounts Payable?
Module 3: Accounts Payable Processes and Best Practices
Invoice Handling and Routing
The Three Way Matching
Methods of Payment Processing
Maintaining the Vendor Master File
Travel and Entertainment (T&E)
Procurement Cards (P-Cards)
Electronic Payment Options
Module 4: Key Topics in Accounts Payable Management
Operational Analysis and Benchmarking
Continuous Process Improvement
Developing Performance Metrics
Applying Best Practices in your Organization
Identifying Proper Internal Controls
The Annual Audit as an Added Value
Impact of AP Outsourcing
Detecting Fraud in Accounts Payable
Disaster Recovery Planning
Module 5: The Behavioral Side of Managing Accounts Payable Department
Improving the Image of AP Department
Ways to Motivate AP Staff
Organizing the AP Department
Closing the Communication Gap
Dealing with Internal and External Disputes
Importance of Internal Customer Service
Providing Customer Service to Vendors
Module 6: Accounts Payable Department as a Real Business Partner
When We Should Pay Our Suppliers
Understanding Cost of Funds
Evaluating Early Payment Discount
Pros and Cons of Early/Late Payments
Relationship with Treasury Department
Module 7: Achieving World Class in Accounts Payable Processes
Defining Best Practice in AP
Moving beyond P2P
Principles of Best Practice
End to End AP Process
Identifying the issues in Accounts Payable
Module 8: Harnessing Technology in Accounts Payable Processes
Master Vendor File Management – getting it right from the start
Travel & Entertainment
Cash advances and employee reimbursement
Process improvement through imaging and workflow
Using the internet for AP effectiveness
Module 9: Making the Payments and Maintaining the Relationships
Communications & Customer Relations
Payments status information for vendors and internal customers
Improving Procure to Pay(P2P)Cycle
Payments and Payment Solutions: Accounts Payable or Treasury?
In The Classroom
Private Team Training
Indiviual Private Session
Please Register for More Information