Accounts Payable -From
Accounting to Management

The organisation of the accounts payable function and the management of the accounts payable role are of vital importance to the effective control of working capital and therefore cash flow. Documented strategies and tactics employed by highly admired companies are presented both successful and unsuccessful to illustrate the real-world functionality of each process and approach.

By attending this training seminar, delegates will understand:

• The Importance of the Accounts Payable Function and the need for Effective and Efficient Controls
• The Role of Accounts Payable Management in the control of the Working Capital of an Organisation
• How to Create Effective Accounts Payable Dashboards to track and present Department
• How to Motivate and Engage Accounts Payable Staff
• The Importance of Reviewing International Best Practices to continual Improve Accounts Payable Operating Performance

Course Objectives

At the end of this training course, you will learn:

• 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
• Apply Tools and Techniques in Microsoft Excel to effectively Manage and Monitor Accounts Payable Performance

Who is this Training Course for?

Who Should Attend?

• Finance Executives
• Accountants
• Accounts Payable Managers
• Accounts Payable Supervisors
• Accounts Payable Staff
• Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing Professional or Technical Skills

The Course Content

Course Outline

DAY 1

Accounts Payable and the Financial Health of Organizations

• 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

DAY 2

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

DAY 3

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

DAY 4

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

DAY 5

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