Accounts Payable plays several key roles in any organisation, such as making payments, maintaining cash flow, and providing checks and balances on authority limits. This course develop an efficient, robust, fraud resistant and regulatory compliant Accounts Payable function within the organisation. With such a multi-faceted function as AP it is vital to manage workloads, find ways to improve processes, and ensure solid controls are in place to manage the ‘people component’. The course learns how to add real value, understand what new technology can do, and grasp highly effective ways to improve your overall performance
Purpose of account payable and how to add value
How account payable is linked to other parts of the organization
The importance of cost centers and authority limit.
Critical factors for account payable teams.
Key AP techniques you can implement
Managing workflow throughout the month and within the AP team
Improving processing methods and minimizing manual work
Developing effective AP reporting tools
Re-engineering AP to support your procurement strategies
Closing the loop between AP and procurement
Working with purchasing and suppliers to cut payment transaction volume and cost
Using techniques such as summarized bills for your suppliers
Matching of purchase orders, delivery notes and invoices
Problems caused by discounts and other deductions
Key expense processes, tips and tricks
Learning to quickly identify discrepancies in expense claims
Reducing ASAP invoice processing
Determining the most effective method of payment
Pros and cons of purchasing cards and effective checks to avoid abuse
Current and future trends
Examples of how companies use technology in AP
Data capture, workflow, back-ups, and document management
Electronic invoices, shipping notices and purchasing orders
Transaction resolution
Do your present procedures maximize your organization's cash flow?
Maintaining accurate AP records
Eliminating duplicate payment, and holding payment with suppliers until problems are resolved
When early payment are discounts a good deal?
Ensuring agreed payment terms are “win-win”
Invoice payment tracking systems
Tips to shorten your close off period
Standardizing your procedures to simplify the process
Using estimates and accruals effectively during your close off period
Preparing subsidiary information
Strategies to make year-end reporting easier
Avoiding stock counts and valuation hold ups
How to build a system to coordinate control numbers through the entire payment process?
Balancing accessibility with protection of confidential information
IRD record keeping requirements
Ensuring the flow of information between your department and the rest of the organization
Efficiently getting approvals, authorizations and signatures
Examining difficult situations which can arise in AP
Inserting more controls within your AP processes
Developing a step-by-step fraud prevention strategy
Procedures, reviews and management accountability
Create a smooth-running payment system to save time, and resources
Integrate purchasing and Account payable to gain efficiency
How to implement new process appropriately and effectively
Implement robust controls and records system
Ensure timely closely off
How to effectively resolve problems in the Account payable function
Find subjects you're passionate about by browsing our online course categories. Start
learning with top courses Built With Industry Experts.