Accounts Payable

Finance, Accounting & Investment

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Introduction:

This Accounts Payable 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.

 The organisation 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.

 

Objectives

 At the end of this Accounts Payable training course, you will learn:

Identify the Function of Accounts Payable and its Role in Organizations

Use Accounting Principles related to Accounts Payable

Describe How to Take a Successful Lead in the Management of Accounts Payable

Assess AP Operations and Processes and Recommend Improvements using the latest Best Practices

Apply Tools and Techniques in Microsoft Excel to effectively Manage and Monitor Accounts Payable Performance

 

 Course Outline

 Day One

The Big Picture: Accounts Payable and the Financial Health of Organizations

The Important Role of Accounts Payable (AP)

The Meaning of Managing Accounts Payable

The Functions of Management

The Functions of Accounts Payable Department and Role of AP Staff

Accounts Payable Impact on Working Capital and Cash Management

Day Two

Accounting for Accounts Payable Accounting Essentials for Accounts Payable

Accounting Essentials for Accounts Payable

Accounts Payable Terminology

General Ledger and Sub-Ledger

Month End Accounting Entries and Accruals

Control Account Reconciliations

Developing a Reconciliation Plan for the Sub-Ledger

Day Three

Key Topics in Accounts Payable Management

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

 Day Four

The Behavioural Side of Managing Accounts Payable Department

Improving the Image of Accounts Payable Department

Ways to Motivate Accounts Payable Staff

Organizing the AP Department

Closing the Communication Gap

Dealing with Internal and External Disputes

Providing Customer Service to Vendors

Day Five

Using Excel in Managing Accounts Payable

Interface between Accounts Payable System and Excel

Using Pivot Tables to Extract Valuable Information

Preparing and Analyzing Accounts Payable Aging

Developing your Accounts Payable Dashboard

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