This Current Liability 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 training course, participants will understand the importance of the accounts payable function with regard to 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 effectively 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 and how leading companies from across the globe are achieving best practice in Accounts Payable.
Accounting and financial information: Accounts Payable in context
Sources of finance
The supply chain
Financial position and financial performance
Cash flow and Working Capital
Why is cash flow so important?
Defining Best Practice in AP
Moving beyond P2P
Managing Risk
Principles of Best Practice
End to End AP Process
Defining the issues in Accounts Payable
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 in Accounts Payable?
Master Vendor File Management – getting it right from the start
Travel & Entertainment
Policy management
Cash advances and employee reimbursement
Process improvement through imaging and workflow
Using the internet for AP effectiveness
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
Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain
Understand and apply the fundamentals of accounts payable systems
Review and comment on payment methods and cash management
Analyze the need to incorporate risk and uncertainty into accounts payable analysis
Identify best practice across all industries
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