Accounts Payable Course

Description

This training course is dedicated to enhancing the skills and knowledge of individuals in the Accounts Payable department. Accounts Payable is a vital business process that plays a significant role in preparing a company’s financial reports. With the right training, an organisation can achieve a well-organised Accounts Payable department that aligns with its objectives. This program offers a comprehensive overview of Accounts Payable management and covers key areas like invoice processing, vendor management, payment procedures, and financial reporting. By taking this course, participants will gain practical skills and knowledge to manage Accounts Payable processes effectively within an organisation.

What you will learn

Key points which will be covered:

• Understanding the importance of your role
• Understanding the role of auditors and what you can do to prepare for their visit
• Internal checks and controls; error and fraud prevention and detection
• Setting up new supplier accounts
• Performing supplier statement reconciliations
• Processing expense claims and credit card statements
• Capital and revenue expenditure
• Introduction to VAT and non-deductible items
• Processing pro-forma invoices & VAT payment schedules
• Monitoring costs, reclaiming credit notes, rebates and overpayments
• Claiming settlement discounts
• Spotting errors and mistakes promptly and avoiding duplicate payments
• Journals, prepayments and accruals
• Performing supplier statement reconciliations
• Reviewing the Aged Creditors Listing
• Monitoring costs
• Managing Budgets and maximising supplier discounts
• Cash Forecasting
• Month end and year end procedures, the purpose of management accounts
• Effective filing
• Paperless AP technology