• Identify the functions of Accounts Payable (AP) and its role in Organizations
• Take a successful lead in the management of Accounts Payable
• Get the latest update on best practices in managing Accounts payables
• Apply accounting principles related to Accounts Payable
• Recommend improvements to AP Operations and ways to motivate AP staff

Content:

The Important Role of Accounts Payable

. The big picture: Accounts payable and the Financial Health of Organizations

. The functions of Accounts Payable Department and Role of AP staff

. The meaning of managing Accounts payable

. Translating better AP Management into Better Financial Results

Accounting essential for accounts payable:

. Accounts Payable Terminology

. General Ledger and sub-Ledger

. Preparing for Month End Close and Accruals

Accounts Payable Processes and Best Practices

. Invoice Handling and Routing

. Method of payment processing

. Maintaining the Vendor Master File

. Electronic Payment Options

Accounts Payable Management

. Operational Analysis and Benchmarking

. Culture of Continuous Process Improvement

. Applying Best Practices in your Organization

. Developing performance Metrics

The behavioral side of managing Accounts payable department:

. Improving the Image of AP Department

. Closing the Communication Gap

. Dealing with Internal and External Disputes

. Importance of Internal Customers Service

. Providing Customer Service to Vendors

. Identifying Proper Internal Controls

. The Annual Audit as an Added Value

. Impact of AP Outstanding

. Detecting Errors in AP Transactions

FOR WHOM: Accountants, Auditors, Treasurers, Credit Managers, Accounts Payable Managers, SalesMarketing Managers and others who perform related functions.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

This course is available in the following locations:

Ghana - $6000
Rwanda - $7000
UK - $8000
USA - $8000