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.
Course Objectives
By the end of the 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
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.
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
Location:
South AfricaTraining Dates:
Each course starts every Monday of each week. Please book your training on a date that is a Monday.Course Duration:
Unit Standard:
NQF Level:
Number of Credits:
Course Fees
Note: Please fill in the online application form on the left or bottom if this page to receive a quotation with detailed pricing from AATICD.How to Apply:
To Apply Simply Fill in the Online Enquiries / Applications form on the Right Sidebar or Bottom of this website https://www.aaticd.co.zaNB:
When filling the online application form; please take note of your desired Training Month, Duration in Weeks and Training Session. This will give us the exact dates you will be attending your classes.Also note that Tuition Fees must be paid upfront on or before training start date. This is to ensure that all resources are made availabe for you before you start. You will not be allowed into training if fees are not paid and verified.
Also note that Tuition Fees Cancellations must be made 14 business working days before the starting date of training. This will allow us to do a 50% refund of the total amount paid. If cancellations are made thereafter note that no refund will be made to delegates.
Tuition Fees include teas and lunch as well as either a laptop or tablet which a delegate will take home free of charge.
Tuition Fee DOES NOT include Accommodation, Dinners and other Extra Curricular Activities or Incidentals. Delegates are expected to fund this on their own. AATICD will not be held accountable for any incidents to delegates.
In-House Trainings are also available for 3 or more delegates for any duration. Please consult with our Administration for such In-House training bookings.
Course Outline
- The important role of AP
- The meaning of managing accounts payable
- The functions of management
- The big picture: accounts payable and the financial health of organizations
- The functions of the accounts payable department and the role of AP staff
- Accounts payable impact on working capital and cash management
- Accounting essentials for accounts payable
- Accounts payable terminologies
- General ledger and sub-ledger
- Preparing for month-end close and accruals
- Accounts payable processes and best practices
- Invoice handling and routing
- The three-way matching
- Methods of payment processing
- Maintaining the vendor master file
- Travel and Entertainment (T&E)
- Procurement Cards (P-Cards)
- Electronic payment options
- Key topics in accounts payable management
- Operational analysis and benchmarking
- Continuous process improvement
- Developing performance metrics
- 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
- Disaster recovery planning
- The behavioral side of managing accounts payable department
- Improving the image of the AP department
- Ways to motivate AP staff
- Organizing the AP department
- Closing the communication gap
- Dealing with internal and external disputes
- Importance of internal customer service
- Providing customer service to vendors
- Accounts payable department as a real business partner
- When should we pay our suppliers
- Understanding cost of funds
- Evaluating early payment discount
- Pros and cons of early or late payments
- Relationship with the treasury department
- Using Microsoft Excel in managing accounts payable
- Interface between the accounts payable system and Excel
- Using pivot tables to extract valuable information
- Preparing and analyzing accounts payable aging
- Accounts payable role in improving suppliers commercial terms
- The important role of AP