Accounts Payable from Accounting to Management Course

Course Overview:

The Accounts Payable – From Accounting to Management Training Course is for effective management of AP while leading to the overall understanding of the financial position of the institution.

The session integrates basic accounting skills, accounts payable or AP vocabulary into the wider context of AP’s relationship with accounts. The participants will be able to implement AP best practices, strengthen AP internal controls and fraud prevention while improving AP department performance and motivation of its staff.

The course examines also the use of Excel in the AP data management including the generation of dashboards and interpreting the aging report.

It is targeted to the AP managers, the staff and accounting, finance and procurement specialists with aspirations for career growth.

Course Objectives:

At the end of this Accounts Payable - From Accounting to Management Training 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

Who Should Attend?

Accounts Payable - From Accounting to Management Training course is ideal for:

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

Course Outlines:

He Big Picture: Accounts Payable amd the Financial Health of Organizayions

• The Important Role of Accounts Payable (AP)
• The Meaning of Managing Accounts Payable
• The Functions of Management
• The Functions of Accounts Payable Department and Role of AP Staff
• Accounts Payable Impact on Working Capital and Cash Management

ACCOUNTING FOR ACCOUNTS PAYABLE ACCOUNTING ESSENTIALS FOR ACCOUNTS PAYABLE

• Accounting Essentials for Accounts Payable
• Accounts Payable Terminology
• General Ledger and Sub-Ledger
• Month End Accounting Entries and Accruals
• Control Account Reconciliations
• Developing a Reconciliation Plan for the Sub-Ledger

KEY TOPICS IN ACCOUNTS PAYABLE MANAGEMENT

• 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

THE BEHAVIOURAL SIDE OF MANAGING ACCOUNTS PAYABLE DEPARTMENT

• Improving the Image of Accounts Payable Department
• Ways to Motivate Accounts Payable Staff
• Organizing the AP Department
• Closing the Communication Gap
• Dealing with Internal and External Disputes
• Providing Customer Service to Vendors

USING EXCEL IN MANAGING ACCOUNTS PAYABLE

• Interface between Accounts Payable System and Excel
• Using Pivot Tables to Extract Valuable Information
• Preparing and Analyzing Accounts Payable Aging
• Developing your Accounts Payable Dashboard

see more: Advanced Auditing for In charge Auditors Course