Accounts Payable Processing Course
Need to know how to Allocate and Manage Business Expenses
Updated on Sep, 2023
Language - English
Business Budgeting,Finance & Accounting,Accounting & Bookkeeping
Course Description
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.
All Included:
- Downloadable course material
- Certificate of training
- 3 unverifiable CPD points
Goals
What will you learn in this course:
- 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
Prerequisites
What are the prerequisites for this course?
- There are no prerequisites for this course.
- No experience needed.
Curriculum
Check out the detailed breakdown of what’s inside the course
Introduction to Accounts Payable
1 Lectures
-
Accounts Payable - Introduction
17:42
17:42
Account Payable Course
4 Lectures
Instructor Details
Bizfacility
Financial Training Since 2010Being from Bizfacility Financial training for over 10 years of providing training to accountants, bookkeepers and various business owners and companies, we also offer self-study courses to provide value adding knowledge, skills and tools through remote training and engagement that enables you to become more financially skilled.
We offer a variety of self- study courses, packages to provide understanding of all aspects of Bookkeeping, Accounting, Financial instruments, Management Accounting and Financial procedures that are essential for the running of a business.
As finance is a universal language, all online courses offered through UDEMY, are useful to anyone in the world as it complies with IFRS (International Framework of Reporting Standards) and does not include any country specific vat or tax content.
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