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Overview
Need to know how to Allocate and Manage Business Expenses? Why this is vital to add Value for Efficient Business Workflow? How to streamline Management Reports?
Accounts payable and its management is a critical business process through which an entity manages its payable obligations effectively.
The accounts payable process or function is immensely important since it involves nearly all of a business’s payments outside of payroll, regardless of size.
The object of accounts payable is to pay only business expenses, and invoices that are legitimate and accurate.
It also enables business entities to manage better cash flows i.e. making payments only when due, using the credit facility provided by vendors, etc.
Additionally, a bookkeeping and accounting system needs good accounts payable internal controls in order to minimize the risk of fraud, error and loss.
The purpose of accounts payable internal controls is to ensure that valid supplier and vendor invoices are properly recorded and promptly paid by the business.
During the course the following topics will be discussed:
Why is Account Payable important, and how it adds value to your business
Key Accounts Payable Controls
Processes, systems and procedures
Organizational Accounts Payable Policy
Year-end reporting requirements
Methods of ensuring consistency with your Accounts Payable functions
Processing Methods
Accounts Payable management reporting tools
Data Capture, workflow processes and document control management
Electronic invoices, purchase orders and shipping documentation
Transactions from initiating purchase order to completing invoice payment
Simplifying standard internal procedures
Accruals & Provisions - to effectively use methods during close-off periods
Streamline management reports and reducing unnecessary information
Year-end close-offs & the importance of a check list
Reconciling your Accounts Payable accounts
How to prevent duplicate payments
How to reduce unallocated payments
Your filing system - ensuring your information is ready for your auditors
Vendor information you are required to have
Procurement policies and procedures with overview
Who this course is for
Creditor Clerks
Data Capturers
Finance students.
Testimonials
Great explanations ~Â Leroy F
Instructor was easy to understand, explained things well and offers great personal insight ~ Roxanne M
Very clearly how to process your Accounts Payable ~ Mwwagner
What you'll learn
Why Account Payable is important, and how it adds value to your business.
Requirements
No previous knowledge on the subject required. Available to anyone wanting to learn.
Overview
Need to know how to Allocate and Manage Business Expenses? Why this is vital to add Value for Efficient Business Workflow? How to streamline Management Reports?
Accounts payable and its management is a critical business process through which an entity manages its payable obligations effectively.
The accounts payable process or function is immensely important since it involves nearly all of a business’s payments outside of payroll, regardless of size.
The object of accounts payable is to pay only business expenses, and invoices that are legitimate and accurate.
It also enables business entities to manage better cash flows i.e. making payments only when due, using the credit facility provided by vendors, etc.
Additionally, a bookkeeping and accounting system needs good accounts payable internal controls in order to minimize the risk of fraud, error and loss.
The purpose of accounts payable internal controls is to ensure that valid supplier and vendor invoices are properly recorded and promptly paid by the business.
During the course the following topics will be discussed:
Who this course is for
Testimonials
What you'll learn
Why Account Payable is important, and how it adds value to your business.
Requirements
No previous knowledge on the subject required. Available to anyone wanting to learn.
Course Content
5 Sections 6 Lectures 2h 28m total length
All Comments