Accounts Payable: Accounting and Management Best Practices

Transcription

1 Accounts Payable: Accounting and Best Practices Page 1 of 11

2 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 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 Page 2 of 11

3 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 Page 3 of 11

4 Associations National Association of State Boards of Accountancy (NASBA) : Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website Location & Date Feb, 2019 To be assigned Jun, 2019 To be assigned Oct, 2019 Riyadh To be assigned Nov, 2019 To be assigned : US$ (including coffee breaks and a buffet lunch daily) Per participant Per participant VAT as applicable Tax Registration Number Page 4 of 11

5 30 Sep - 4 Oct, Oct, 2018 Financial Controller Bootcamp Beirut US$ Oct, Oct, 2018 Financial Modeling Workshop Using Excel 7-11 Oct, 2018 Payroll: Preparation, Analysis and Oct, 2018 Certificate in Cost Analysis and Control Oct, 2018 Efficient Finance and Accounting Operations: 2018 Best Practices and Oct, 2018 Financial Acumen: Roadmap to Business Success Oct, 2018 Accounts Payable: From Accounting to Oct, 2018 Business Reports and Dashboards Using Excel Oct, 2018 IFRS in Saudi Arabia: Compliance with SOCPA Riyadh Oct, 2018 Professional Accounting Certificate 28 Oct - 1 Nov, 2018 Certificate in Financial 28 Oct - 1 Nov, Nov, 2018 Policies and Procedures 4-8 Nov, Nov, 2018 Managing the Collections and Credit Control Team 4-8 Nov, 2018 Professional Skills for Finance and Accounting Nov, 2018 Accounts Receivable and Credit Policies Nov, 2018 Advanced Budgeting Workshop Nov, 2018 Innovative Cost Savings Strategies Nov, 2018 International Financial Reporting Standards (IFRS) and Nov, 2018 Certificate in Fixed Assets Accounting and Nov, 2018 Financial Controller Workshop Nov, 2018 Preparing Financial Statements and the Page 5 of 11

6 Annual Report Nov, 2018 Certificate in Advanced Financial Modeling Nov, 2018 Certified Corporate Financial Planning & Analysis Professional (Cert FP&A): Preparation Course - Part Dec, 2018 Accounting for Non-Accountants 2-6 Dec, Dec, 2018 Accounts Payable: From Accounting to 9-13 Dec, 2018 Corporate Finance Workshop 9-13 Dec, 2018 Fast Closing Monthly and Year-End Accounts 9-13 Dec, 2018 Payroll: Preparation, Analysis and Dec, Dec, 2018 Efficient Finance and Accounting Operations: 2018 Best Practices and Dec, Dec, 2018 Next Generation Excel: Advanced Business and Financial Reporting Dec, Dec, 2018 Financial Analysis Workshop 6-7 Jan, 2019 Basic Mechanics and Accounting for VAT US$ Jan, Feb, 2019 Financial Modeling Workshop Using Excel Feb, Feb, Feb, 2019 Accounts Receivable and Credit Policies Feb, 2019 Certificate in Professional Accounting Feb, 2019 Certified Financial Manager Feb, 2019 Dynamic Business Reports and Dashboards Using Excel Feb, 2019 Financial Acumen: Roadmap to Business Success 3-7 Mar, 2019 Accounting for Non-Accountants 3-7 Mar, 2019 Certificate in Cost Analysis, Control and Page 6 of 11

7 Optimization Mar, 2019 Certificate in Accounting and Financial Control Mar, 2019 Financial Analysis Workshop Mar, 2019 Payroll: Preparation, Analysis and Mar, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Mar, 2019 International Financial Reporting Standards (IFRS) and Mar, 2019 Managing the Collections and Credit Control Team Mar, 2019 Preparing Financial Statements and the Annual Report Mar, 2019 Certificate in Fixed Assets Accounting and Mar, 2019 Certificate in Advanced Financial Modeling Mar, 2019 Certificate in Treasury and Cash Mar, 2019 Fast Closing Monthly and Year-End Accounts 31 Mar - 4 Apr, Apr, Apr, 2019 Professional Skills for Finance and Accounting Apr, 2019 Policies and Procedures Apr, 2019 Preparation for Certificate in Financial Planning & Analysis (Cert FP&A) Apr, 2019 Certificate in International Financial Reporting Standards (CertIFR): Preparation Course Apr, 2019 Next Generation Excel: Advanced Business and Financial Reporting Apr, 2019 Certificate in Advanced Budgeting and Forecasting Apr, 2019 Cairo 28 Apr - 2 May, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Page 7 of 11

8 28 Apr - 2 May, Jun, 2019 Certificate in Advanced Financial Modeling 9-13 Jun, Jun, Jun, Jun, 2019 Advanced Excel: Power Query, Power Pivots and Macros Jun, Jul, 2019 Certified Financial Manager Jul, 2019 Certificate in Advanced Budgeting and Forecasting Jul, 2019 Fast Closing Monthly and Year-End Accounts 28 Jul - 1 Aug, 2019 Financial Modeling Workshop Using Excel 4-8 Aug, Aug, Aug, 2019 Istanbul Aug, 2019 Forecasting and Analyzing Cash Flow 1-5 Sep, 2019 Accounting for Non-Accountants 1-5 Sep, 2019 Dynamic Business Reports and Dashboards Using Excel 4-6 Sep, 2019 : A Hands-On Workshop Beirut US$ Sep, 2019 Corporate Finance Workshop 8-12 Sep, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Abu Dhabi 8-12 Sep, 2019 Financial Analysis Workshop 8-12 Sep, 2019 Payroll: Preparation, Analysis and Sep, 2019 Accounts Receivable and Credit Policies Sep, 2019 International Financial Reporting Standards (IFRS) and Sep, 2019 Professional Skills for Finance and Accounting Istanbul Sep, 2019 Certificate in Accounting and Financial Control Page 8 of 11

9 22-26 Sep, 2019 Financial Acumen: Roadmap to Business Success 29 Sep - 3 Oct, 2019 Certificate in Treasury and Cash Riyadh 29 Sep - 3 Oct, 2019 Reporting for Business Performance Review 6-10 Oct, Oct, Oct, 2019 Preparing Financial Statements and the Annual Report Oct, 2019 Fast Closing Monthly and Year-End Accounts Oct, 2019 Next Generation Excel: Advanced Business and Financial Reporting Oct, Oct, 2019 Financial Forecasting: Tools and Techniques Oct, 2019 Managing the Collections and Credit Control Team Oct, Oct, 2019 Innovative Cost Savings Strategies 3-7 Nov, 2019 Certificate in Treasury and Cash 3-7 Nov, 2019 Trade Finance, Letters of Credit and Bank Guarantees Nov, 2019 Certificate in Advanced Budgeting and Forecasting Nov, 2019 Certificate in Advanced Financial Modeling Nov, 2019 Certificate in International Financial Reporting Standards (CertIFR): Preparation Course Nov, 2019 Payroll: Preparation, Analysis and Nov, Nov, 2019 Certificate in Fixed Assets Accounting and Nov, 2019 Advanced Excel: Power Query, Power Pivots and Macros Nov, Nov, 2019 Forecasting and Analyzing Cash Flow Page 9 of 11

10 1-5 Dec, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and 8-12 Dec, 2019 Accounts Receivable and Credit Policies 8-12 Dec, 2019 International Financial Reporting Standards (IFRS) and Dec, 2019 Professional Skills for Finance and Accounting Dec, 2019 Policies and Procedures Dec, Dec, Dec, 2019 Certificate in Cost Analysis, Control and Optimization Dec, Dec, 2019 Page 10 of 11

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