Corporate Accounts Payable Training Course

1. Accounting and financial information: Accounts payable in context

• The role of accounts payable in financial statements
• Integrating accounts payable into the overall accounting system

2. Sources of finance

• Short-term vs. long-term financing options
• The impact of accounts payable on company financing

3. Supply chain

• The role of accounts payable in supply chain management
• Enhancing supply chain efficiency through effective accounts payable practices

4. Financial position and financial performance

• Analyzing the impact of accounts payable on financial position
• Accounts payable role in improving financial performance

5. Cash flow and working capital

• The importance of managing accounts payable for cash flow optimization
• Strategies for working capital management through accounts payable

6. Why is cash flow so important?

• Understanding the direct impact of accounts payable on cash flow
• Techniques for cash flow management in accounts payable

1. Moving beyond P2P

• Innovations beyond traditional procure-to-pay processes
• Strategic implications of advanced accounts payable solutions

2. Managing risk

• Identifying and mitigating risks in accounts payable operations
• Fraud prevention and compliance in accounts payable

3. Principles of best practice

• Key principles for excellence in accounts payable management
• Benchmarking and continuous improvement in accounts payable

4. End-to-end AP process

• Mapping and optimizing the entire accounts payable process
• Leveraging integration and automation for efficiency

5. Defining the issues in accounts payable

• Common challenges in accounts payable and solutions

1. Invoice handling and approval processes

• Streamlining invoice receipt and approval workflows

2. Verifying invoice data

• Techniques for invoice verification and validation
• Leveraging technology for error reduction in invoice processing

3. Paying “low value” items

• Strategies for efficient management of petty cash and small payments
• Policy development for low-value transactions

4. How to avoid duplicate payments

• Identifying and preventing duplicate invoices and payments
• Tools and techniques for duplicate payment detection

5. Making the best use of staff time: limiting telephone calls to AP

• Effective communication strategies to reduce inquiry volume
• Implementing self-service portals for vendor and internal queries

6. Does petty cash management belong in accounts payable?

• Pros and cons of managing petty cash within accounts payable

1. Master vendor file management – getting it right from the start

• Setting up and maintaining a vendor master file
• Techniques for data verification and vendor information management

2. Travel & entertainment

• Managing T&E expenses through accounts payable
• Policies and procedures for effective T&E expense control

3. Policy management

• Developing and enforcing accounts payable policies
• Role of policies in compliance and operational efficiency

4. Cash advances and employee reimbursement

• Managing employee advances and reimbursements through accounts payable

5. Process improvement through imaging and workflow

• Implementing imaging solutions for paperless processing
• Optimizing accounts payable with automated workflow solutions

6. Using the internet for AP effectiveness

• Online tools and platforms for enhancing accounts payable functions
• The role of e-invoicing and digital payments in accounts payable efficiency

1. Communications & customer relations

• Building strong relationships with vendors through effective communication
• Strategies for managing internal stakeholder relationships

2. Payment status information for vendors and internal customers

• Providing transparency in payment processes
• Utilizing technology for payment tracking

3. Improving procure to pay (P2P) cycle

• Strategies for streamlining the P2P cycle
• Leveraging integration for P2P efficiency

4. Payments and payment solutions: Accounts payable or treasury?

• Clarifying the roles of accounts payable and treasury in payment management
• Collaborative approaches to payment strategies and solutions