Accounts Payable from Accounting to Management
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Accounts Payable from Accounting to Management Course
Introduction:
The efficient organization and management of the accounts payable function play a crucial role in effectively controlling working capital and optimizing cash flow. This entails exploring documented strategies and tactics employed by highly respected companies, both successful and unsuccessful, to illustrate the practical implementation of each process and approach.
Accounts Payable (AP) involves more than just processing checks, mailing them, and filing paperwork. To truly and effectively manage accounts payable, one must comprehend the foundational elements of the AP department, which include customer service, vendor management, check requests, and Purchase Orders (POs), among others.
The Accounts Payable - From Accounting to Management Training course is designed to provide businesses and organizations with a comprehensive understanding of their position relative to industry leaders. It equips participants with the knowledge and tools necessary to elevate their services and organizational processes to state-of-the-art levels.
By participating in this course, attendees will gain insights into industry best practices and emerging trends in accounts payable management. They will learn how to streamline processes, enhance vendor relationships, improve customer service, and leverage technology to optimize efficiency and productivity.
Join us in the Accounts Payable - From Accounting to Management Training course to elevate your understanding of accounts payable and propel your organization towards excellence. By implementing the strategies and approaches covered in this course, you will be better equipped to enhance your financial operations, strengthen working capital management, and drive overall business success.
Course Objectives:
At the end of this Accounts Payable - From Accounting to Management Training 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 lead 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
Who Should Attend?
Accounts Payable - From Accounting to Management Training course is ideal for:
- Managers of accounts payable,
- AP staff and professionals as well as clerks and specialists who wish to advance their career.
- Professionals in accounting, finance, purchasing and procurement who work closely with accounts payable.
Course Outlines:
He Big Picture: Accounts Payable amd the Financial Health of Organizayions
- 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
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
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
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
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