Course Overview

The course enables participants to identify the scope and function of AP (Accounts Payable) and assess and evaluate it in detail.

Who Should Attend?

Managers of Accounts Payable departments as well as AP staff, clerks, and specialists who wish to advance their career. The program is also beneficial to professionals in accounting, finance, purchasing and procurement who work closely with Accounts Payable.

Program Outline

  • 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 and Cash Management
  • Accounting Essentials for Accounts Payable
  • Accounts Payable Terminology
  • General Ledger and Sub-Ledger
  • Preparing for Month End Close and Accruals
  • 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
  • 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
  • The Behavioural 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

Program Objectives

By the tip of the program, participants are going to be ready to:
  • determine the perform of Accounts owed (AP) and its role in organizations
  • Take a successful lead within the management of Accounts owed
  • Assess AP operations and processes and advocate enhancements mistreatment the most recent best practices
  • Apply accounting principles associated with Accounts payable
  • assess main problems poignant AP workers so as to extend their efficiency and productivity

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