Accounts Payable Training

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. 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 concerning 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.

Course Objectives

This training course aims to enable participants to achieve the following objectives:

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 practices across all industries

Course Outline

Module 1:

• Accounts Payable, Financial Accounting and the Supply Chain
• 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?

Module 2:

• Achieving World Class in Accounts Payable Processes
• 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

Module 3:

• Improving Invoice Processing and Operational Management
• 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?

Module 4:

• Harnessing Technology in Accounts Payable Processes
• 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

Module 5:

• Making the Payments and Maintaining the Relationships
• Communications & Customer Relations
• Payment status information for vendors and internal customers
• Improving Procure to Pay (P2P) Cycle
• Payments and Payment Solutions: Accounts Payable or Treasury

Training Approach

This course will be delivered by our skilled trainers with vast knowledge and experience as expert professionals. The course is taught in English and through a mix of theory, practical activities, group discussion, and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organizational requirements. For further inquiries, don’t hesitate to get in touch with us on Email: info@advantaedgedev.com Tel: +254 713 072 883

Training Venue

The training will be held at our Advantaedge Training Centre. We also offer training for a group at requested locations all over the world. The course fee covers the course tuition, training materials, two break refreshments, and a buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with an Advantaedge certificate upon completion of this course.

Airport Pickup & Accommodation

Airport pickup and accommodation are arranged upon request. For booking contact our Training Coordinator through Email: info@advantaedgedev.com Tel: +254 713 072 883

Terms of Payment

Unless otherwise agreed between the two parties payment of the course fee should be done 3 working days before commencement of the training to enable us to prepare better