Accounts Payable Best Practices: Accounting & Managerial Perspective Training Course
Course Overview:
This course is a complete program designed to equip finance professionals with the latest strategies and techniques in accounts payable management. This course delves into essential aspects of cash flow management, financial accounting, and supply chain integration. Participants will explore advanced accounts payable systems, risk management in accounts payable, and cash management strategies. The course also covers invoice processing techniques, vendor file management, and the procure to pay cycle. Through interactive sessions, case studies, and practical exercises, participants will gain insights into accounts payable automation, compliance, and improving accounts payable processes. This training will enable finance executives and accounts payable supervisors to enhance operational efficiency and achieve best practices in accounts payable management.
Target Audience:
- Finance Executives and Professionals
- Accountants
- Accounts Payable Supervisors
- Accounts Payable Personnel
Targeted Organizational Departments:
- Finance Department
- Accounts Payable Department
- Treasury Department
- Procurement Department
- Supply Chain Management
Targeted Industries:
- Manufacturing
- Retail
- Healthcare
- Finance and Banking
- Technology
- Logistics and Supply Chain
- Public Sector
Course Offerings:
By the end of this course, participants will be able to:
- Implement best practices in accounts payable management
- Enhance cash flow management strategies
- Optimize financial accounting and supply chain processes
- Apply advanced invoice processing techniques
- Manage accounts payable systems effectively
- Incorporate risk management into accounts payable practices
- Improve operational efficiency and compliance in accounts payable
Training Methodology:
This course employs a blend of interactive training methodologies designed to engage participants and enhance learning outcomes. The methodologies include case studies that showcase real-world applications of accounts payable best practices, group work to foster collaboration and idea sharing, and interactive sessions to encourage participant engagement. Additionally, feedback sessions will be conducted to provide personalized guidance and address specific challenges faced by participants. Practical exercises and role-playing scenarios will enable participants to apply their learning in a controlled environment, ensuring they gain practical skills that can be immediately implemented in their organizations.
Course Toolbox:
- complete course workbook
- Case study materials
- Online resources and reading materials
- Checklists and templates for accounts payable processes
Course Agenda:
Day 1: Introduction to Accounts Payable and Cash Flow Management
- Topic 1: Importance of Accounts Payable in Cash Flow Management
- Topic 2: Accounts Payable and Supply Chain Integration
- Topic 3: Overview of Purchase Order Processing and Inventory Control
- Topic 4: Linking Purchase Ledger and Cash Payments to the General Ledger
- Topic 5: Fundamentals of Cash Flow and Working Capital Management
- Topic 6: Role of Financial Position and Performance in Accounts Payable
- Reflection & Review: Recap of Key Learnings and Interactive Discussion
Day 2: Achieving World-Class Accounts Payable Processes
- Topic 1: Defining Best Practices in Accounts Payable
- Topic 2: Moving Beyond Procure to Pay (P2P)
- Topic 3: Managing Risk in Accounts Payable
- Topic 4: Principles of Best Practice in Accounts Payable
- Topic 5: End-to-End Accounts Payable Process
- Topic 6: Identifying and Addressing Issues in Accounts Payable
- Reflection & Review: Daily Learnings and Best Practice Examples
Day 3: Improving Invoice Processing and Operational Management
- Topic 1: Invoice Handling and Approval Processes
- Topic 2: Verifying Invoice Data Effectively
- Topic 3: Strategies for Paying Low-Value Items
- Topic 4: Avoiding Duplicate Payments
- Topic 5: Optimizing Staff Time in Accounts Payable
- Topic 6: Role of Petty Cash Management in Accounts Payable
- Reflection & Review: Interactive Review of Operational Improvements
Day 4: Harnessing Technology in Accounts Payable Processes
- Topic 1: Master Vendor File Management – Getting It Right from the Start
- Topic 2: Travel & Entertainment Policy Management
- Topic 3: Managing Cash Advances and Employee Reimbursement
- Topic 4: Process Improvement through Imaging and Workflow
- Topic 5: Utilizing the Internet for Accounts Payable Effectiveness
- Topic 6: Technology Solutions for Enhancing Accounts Payable Efficiency
- Reflection & Review: Collaborative Discussion and Feedback
Day 5: Making Payments and Maintaining Relationships
- Topic 1: Effective Communication and Customer Relations in Accounts Payable
- Topic 2: Providing Payment Status Information for Vendors and Internal Customers
- Topic 3: Improving the Procure to Pay (P2P) Cycle
- Topic 4: Exploring Payment Solutions: Accounts Payable vs. Treasury
- Topic 5: Incorporating Risk and Uncertainty in Accounts Payable Analysis
- Topic 6: Best Practices in Accounts Payable for Finance Executives
- Reflection & Review: Final Review and Q&A Session
How This Course is Different from Other Accounts Payable Courses:
The training course stands out by offering a unique blend of theoretical knowledge and practical applications. Unlike other courses, this program provides a deep dive into the integration of accounts payable with financial accounting and supply chain management. Participants will benefit from advanced training on cash flow management, risk management in accounts payable, and innovative technologies for accounts payable automation. The course also features real-world case studies from leading companies, interactive sessions, and practical exercises that ensure participants can immediately apply their learning. Additionally, the course's complete toolbox, including templates, equips participants with the necessary resources to achieve operational excellence in accounts payable.
credits: 5 credit per day
Course Mode: full-time
Provider: Agile Leaders Training Center
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Events for this Course!!
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Milan 2024-07-29
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Doha 2024-08-04
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Baku 2024-08-12
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Jakarta 2024-08-18
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Madrid 2024-08-26
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London 2024-08-26
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Sharm El-Sheikh 2024-09-02
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Kuala Lumpur 2024-09-02
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Barcelona 2024-09-02
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Zoom 2024-09-09
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Rome 2024-09-09
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Casablanca 2024-09-16
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Tbilisi 2024-09-23
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Paris 2024-09-30
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Dubai 2024-09-30
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Vienna 2024-10-07
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Istanbul 2024-10-07
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Manama 2024-10-13
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Cairo 2024-10-21
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Zoom 2024-10-28
Upcoming Events
