Course Methodology

This course demonstrates theoretical and practical core topics and introduces Excel for managing accounts payable. The course also features role-playing and presentations by participants.

Course Objectives

By the end of the course, participants will be able to:

• Explain the function of Accounts Payable (AP) and its role in organizations
• Create efficient Accounts Payable process 
• Utilize best practices to improve the AP function
• Take a successful lead in the management of Accounts Payable
• Evaluate main issues affecting AP staff to increase their efficiency and productivity
• Play a real business partner role in your organization
• Apply tools and techniques in Microsoft Excel to effectively manage and monitor AP performance

Target Audience

Managers of accounts payable, AP staff and professionals, clerks, and specialists who wish to advance their careers. The course is also beneficial to professionals in accounting, finance, purchasing, and procurement who work closely with accounts payable.

Target Competencies

• Examining the role of accounts payable
• Performing month-end accruals
• Realizing the added value of three-way matching
• Preparing and analyzing accounts payable aging
• Preventing accounts payable fraud
• Applying accounts payable best practices
• Implementing early payment discount
• Utilizing Excel functions

The Important Role of AP

• The meaning of managing Accounts Payable
• The functions of management
• The big picture: Accounts Payable and the financial health of organizations
• The functions of the Accounts Payable department and the role of AP staff
• Impact of Accounts Payable on working capital and cash management

Accounting Essentials for Accounts Payable

• Accounts Payable terminologies
• General ledger and sub-ledger
• Preparing for month-end close and accruals
• Assessing the AP department
• Accounts Payable controls

Accounts Payable Processes and Best Practices

• Invoice handling and routing
• The three-way matching
• Methods of payment processing
• Maintaining the vendor master file
• Travel and Entertainment (T&E)
• Procurement Cards (P-Cards)
• Electronic payment options

Key Topics in Accounts Payable Management

• Continuous process improvement
• 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
• Disaster recovery planning

The Behavioral Side of Managing Accounts Payable Department

• Improving the image of the AP department
• Ways to motivate AP staff
• Organizing the AP department
• Closing the communication gap
• Dealing with internal and external disputes
• Importance of internal customer service
• Providing customer service to vendors

Accounts Payable department as a real business partner

• When should we pay our suppliers?
• Understanding the cost of funds
• Evaluating early payment discounts
• Pros and cons of early or late payments
• Relationship with the treasury department

Using Microsoft Excel to manage Accounts Payable

• Interface between the Accounts Payable system and Excel
• Using pivot tables to extract valuable information
• Preparing and analyzing Accounts Payable aging
• Role of Accounts Payable in improving suppliers' commercial terms
• Using Excel to Perform Accounts Payable Reconciliations