Accounts Payable: Accounting and Management Best Practices

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Why Attend

Accounts Payable (AP) is not just processing checks, mailing them and then filing the backup paperwork. To truly and effectively manage accounts payable, one must understand the AP department’s building blocks including, but not limited to customer service, vendor management, check requests and Purchase Orders (POs).

This course will discuss how to handle invoices, process checks, prevent errors, conduct annual audits, and use technology in the department. You will also learn the best practices to adopt in your AP department and how to develop your department into an effective business partner

Course Methodology

This course demonstrates theoretical and practical core topics in addition to introducing Excel in managing accounts payable. The course also features role playing and presentations by participants.

Target Audience

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

Course Objective

Provided by the SQ, this programme is available by distance learning, allowing you to study flexibly while balancing work and personal lifes.

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

Target Competencies

Examining the role of accounts payable

Performing month-end accruals

Realizing the value added of three-way matching

Preparing and analyzing accounts payable aging

Preventing accounts payable fraud

Applying accounts payable best practices

Implementing early payment discount

Utilizing Excel functions

Course Outline

The important role of AP

The behavioral side of managing accounts payable department

Accounting essentials for accounts payable

Accounts payable department as a real business partner

Accounts payable processes and best practices

Using Microsoft Excel in managing accounts payable

Key topics in accounts payable management

Program Methodology

Provided by Study Q, this programme is available by distance learning, allowing you to study flexibly while balancing work and personal lifes.

In Person

Online