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Accounts Payable

29 December, 2024 @ 12:00 am - 9 January, 2025 @ 12:00 am

$500
Course Description

INTRODUCTION

This Accounts Payable training course provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state-of-the-art levels.

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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 GLOMACS training course, 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 KPI’s
  • How to motivate and engage Accounts Payable Staff
  • The importance of reviewing international “best practices” to continual improve Accounts Payable operating performance

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

Training Methodology

This Accounts Payable training course will provide the theoretical background and techniques that underpin the organisation and management of accounts payable and its related functions. It will provide a real world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.

Organisational Impact

The organisation will gain through the development and application of capabilities and skills in key area of Accounts Payable management; specific benefits will include:

  • Improved awareness of key business performance measures
  • Greater insights from global best practice
  • Better integration of wider financial process, for example purchase order management and supplier payments
  • Raised levels of professionalism in the Accounts Payable team
  • Improved human talent pool for internal succession planning
  • More effective AP processing and the potential to reduce operating costs and time in a key area for financial transaction processing

Personal Impact

As a delegate you will:

  • Have a clear understanding of how to manage Accounts Payable
  • Be pro-active in seeking and finding approaches to improve process and efficiency within Accounts Payable
  • Communicate the importance of improving Accounts Payable process and its role in improving working capital management to colleagues
  • Learn the latest developments in best practice in Accounts Payable

WHO SHOULD ATTEND?

This GLOMACS training programme is suitable to a wide range of professionals but will greatly benefit:

  • 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

Course Outline

DAY 1

The Big Picture: 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
  • 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

Certificates

  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
  • Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance

Providers and Associations

Endorsed Education Provider

  • Quality Logo
  • Quality Logo

GLOMACS 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.NASBARegistry.org

In Association With

PetroKnowledgePetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

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Oxford Management CentreOxford Management Centre

A GLOMACS – Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

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Details

Start:
29 December @ 12:00 am
End:
9 January, 2025 @ 12:00 am
Cost:
$500

Venue

Barcelona
Barcelona, Spain + Google Map