Accounts Payable: Accounting and Best Practices Page 1 of 11
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
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
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 www.learningmarket.org Location & Date 10-14 Feb, 2019 To be assigned 16-20 Jun, 2019 To be assigned 20-24 Oct, 2019 Riyadh To be assigned 17-21 Nov, 2019 To be assigned : US$ (including coffee breaks and a buffet lunch daily) Per participant - 2018 Per participant - 2019 + VAT as applicable Tax Registration Number 100239834300003 Page 4 of 11
30 Sep - 4 Oct, 2018 3-5 Oct, 2018 Financial Controller Bootcamp Beirut US$ 3500 7-11 Oct, 2018 7-11 Oct, 2018 Financial Modeling Workshop Using Excel 7-11 Oct, 2018 Payroll: Preparation, Analysis and 14-18 Oct, 2018 Certificate in Cost Analysis and Control 14-18 Oct, 2018 Efficient Finance and Accounting Operations: 2018 Best Practices and 14-18 Oct, 2018 Financial Acumen: Roadmap to Business Success 21-25 Oct, 2018 Accounts Payable: From Accounting to 21-25 Oct, 2018 Business Reports and Dashboards Using Excel 21-25 Oct, 2018 IFRS in Saudi Arabia: Compliance with SOCPA Riyadh 21-25 Oct, 2018 Professional Accounting Certificate 28 Oct - 1 Nov, 2018 Certificate in Financial 28 Oct - 1 Nov, 2018 4-8 Nov, 2018 Policies and Procedures 4-8 Nov, 2018 4-8 Nov, 2018 Managing the Collections and Credit Control Team 4-8 Nov, 2018 Professional Skills for Finance and Accounting 11-15 Nov, 2018 Accounts Receivable and Credit Policies 11-15 Nov, 2018 Advanced Budgeting Workshop 11-15 Nov, 2018 Innovative Cost Savings Strategies 11-15 Nov, 2018 International Financial Reporting Standards (IFRS) and 2018 18-22 Nov, 2018 Certificate in Fixed Assets Accounting and 18-22 Nov, 2018 Financial Controller Workshop 18-22 Nov, 2018 Preparing Financial Statements and the Page 5 of 11
Annual Report 25-29 Nov, 2018 Certificate in Advanced Financial Modeling 25-29 Nov, 2018 Certified Corporate Financial Planning & Analysis Professional (Cert FP&A): Preparation Course - Part 1 2-6 Dec, 2018 Accounting for Non-Accountants 2-6 Dec, 2018 9-13 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 16-20 Dec, 2018 16-20 Dec, 2018 Efficient Finance and Accounting Operations: 2018 Best Practices and 16-20 Dec, 2018 16-20 Dec, 2018 Next Generation Excel: Advanced Business and Financial Reporting 23-27 Dec, 2018 23-27 Dec, 2018 Financial Analysis Workshop 6-7 Jan, 2019 Basic Mechanics and Accounting for VAT US$ 2600 27-31 Jan, 2019 3-7 Feb, 2019 Financial Modeling Workshop Using Excel 10-14 Feb, 2019 10-14 Feb, 2019 17-21 Feb, 2019 Accounts Receivable and Credit Policies 17-21 Feb, 2019 Certificate in Professional Accounting 17-21 Feb, 2019 Certified Financial Manager 24-28 Feb, 2019 Dynamic Business Reports and Dashboards Using Excel 24-28 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
Optimization 10-14 Mar, 2019 Certificate in Accounting and Financial Control 10-14 Mar, 2019 Financial Analysis Workshop 10-14 Mar, 2019 Payroll: Preparation, Analysis and 17-21 Mar, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and 17-21 Mar, 2019 International Financial Reporting Standards (IFRS) and 2019 17-21 Mar, 2019 Managing the Collections and Credit Control Team 17-21 Mar, 2019 Preparing Financial Statements and the Annual Report 24-28 Mar, 2019 Certificate in Fixed Assets Accounting and 24-28 Mar, 2019 Certificate in Advanced Financial Modeling 24-28 Mar, 2019 Certificate in Treasury and Cash 24-28 Mar, 2019 Fast Closing Monthly and Year-End Accounts 31 Mar - 4 Apr, 2019 7-11 Apr, 2019 7-11 Apr, 2019 Professional Skills for Finance and Accounting 14-18 Apr, 2019 Policies and Procedures 14-18 Apr, 2019 Preparation for Certificate in Financial Planning & Analysis (Cert FP&A) 14-18 Apr, 2019 Certificate in International Financial Reporting Standards (CertIFR): Preparation Course 14-18 Apr, 2019 Next Generation Excel: Advanced Business and Financial Reporting 21-25 Apr, 2019 Certificate in Advanced Budgeting and Forecasting 21-25 Apr, 2019 Cairo 28 Apr - 2 May, 2019 Efficient Finance and Accounting Operations: 2019 Best Practices and Page 7 of 11
28 Apr - 2 May, 2019 9-13 Jun, 2019 Certificate in Advanced Financial Modeling 9-13 Jun, 2019 16-20 Jun, 2019 16-20 Jun, 2019 23-27 Jun, 2019 Advanced Excel: Power Query, Power Pivots and Macros 23-27 Jun, 2019 7-11 Jul, 2019 Certified Financial Manager 14-18 Jul, 2019 Certificate in Advanced Budgeting and Forecasting 21-25 Jul, 2019 Fast Closing Monthly and Year-End Accounts 28 Jul - 1 Aug, 2019 Financial Modeling Workshop Using Excel 4-8 Aug, 2019 4-8 Aug, 2019 25-29 Aug, 2019 Istanbul 25-29 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$ 3600 8-12 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 15-19 Sep, 2019 Accounts Receivable and Credit Policies 15-19 Sep, 2019 International Financial Reporting Standards (IFRS) and 2019 15-19 Sep, 2019 Professional Skills for Finance and Accounting Istanbul 22-26 Sep, 2019 Certificate in Accounting and Financial Control Page 8 of 11
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, 2019 6-10 Oct, 2019 6-10 Oct, 2019 Preparing Financial Statements and the Annual Report 13-17 Oct, 2019 Fast Closing Monthly and Year-End Accounts 13-17 Oct, 2019 Next Generation Excel: Advanced Business and Financial Reporting 20-24 Oct, 2019 20-24 Oct, 2019 Financial Forecasting: Tools and Techniques 20-24 Oct, 2019 Managing the Collections and Credit Control Team 27-31 Oct, 2019 27-31 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 10-14 Nov, 2019 Certificate in Advanced Budgeting and Forecasting 10-14 Nov, 2019 Certificate in Advanced Financial Modeling 10-14 Nov, 2019 Certificate in International Financial Reporting Standards (CertIFR): Preparation Course 10-14 Nov, 2019 Payroll: Preparation, Analysis and 17-21 Nov, 2019 17-21 Nov, 2019 Certificate in Fixed Assets Accounting and 24-28 Nov, 2019 Advanced Excel: Power Query, Power Pivots and Macros 24-28 Nov, 2019 24-28 Nov, 2019 Forecasting and Analyzing Cash Flow Page 9 of 11
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 2019 8-12 Dec, 2019 Professional Skills for Finance and Accounting 15-19 Dec, 2019 Policies and Procedures 15-19 Dec, 2019 15-19 Dec, 2019 22-26 Dec, 2019 Certificate in Cost Analysis, Control and Optimization 22-26 Dec, 2019 22-26 Dec, 2019 Page 10 of 11
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