Course Description

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.

The organization of the accounts payable function and the management of the accounts payable role are of vital importance to the effective control of working capital and therefore cash flow. 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.

Course Goal

To enhance the participants’ knowledge, skills, and abilities necessary to understand and apply the concepts, principles, policies, and methods of accounts payable in organizations.

Course Objectives

By the end of this course, the participant will be able to:

1. Identify the function of accounts payable and its role in organizations
2. Use accounting principles related to accounts payable
3. Describe how to take a successful lead in the management of accounts payable
4. Assess AP operations and processes and recommend improvements using the latest best practices
5. Apply tools and techniques in Microsoft Excel to effectively manage and monitor accounts payable performance

Course Outline

1. The Big Picture: Accounts Payable and the Financial Health of Organizations
   1. The Important Role of Accounts Payable (AP)
   2. The Meaning of Managing Accounts Payable
   3. The Functions of Management
   4. The Functions of Accounts Payable Department and Role of AP Staff
   5. Accounts Payable Impact on Working Capital and Cash Management

2. Accounting for Accounts Payable

1. 1. Accounting Essentials for Accounts Payable
   2. Accounts Payable Terminology
   3. General Ledger and Sub-Ledger
   4. Month End Accounting Entries and Accruals
   5. Control Account Reconciliations
   6. Developing a Reconciliation Plan for the Sub-Ledger

3. Key Topics in Accounts Payable Management

1. 1. Applying Best Practices in your Organization
   2. Identifying Proper Internal Controls
   3. The Annual Audit as an Added Value
   4. Impact of AP Outsourcing
   5. Detecting Fraud in Accounts Payable

4. The Behavioral Side of Managing Accounts Payable Department

1. 1. Improving the Image of Accounts Payable Department
   2. Ways to Motivate Accounts Payable Staff
   3. Organizing the AP Department
   4. Closing the Communication Gap
   5. Dealing with Internal and External Disputes
   6. Providing Customer Service to Vendors

5. Using Excel in Managing Accounts Payable

1. 1. Interface between Accounts Payable System and Excel
   2. Using Pivot Tables to Extract Valuable Information
   3. Preparing and Analyzing Accounts Payable Aging
   4. Developing Your Accounts Payable Dashboard