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
ALSO AVAILABLE AS A SELF-STUDY ONLINE COURSE – Contact us for more on 021 300 1230 or firstname.lastname@example.org