INTRODUCTION
This IRES Accounts Payable training seminar provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state-of-the-art levels.
The organization of the accounts payable function and the management of the accounts payable role are of vital importance to the effective control of working capital and therefore cash flow. Documented strategies and tactics employed by highly admired companies are presented both successful and unsuccessful to illustrate the real-world functionality of each process and approach.
DURATION
5 Days
WHO SHOULD ATTEND?
This IRES training programme is suitable to a wide range of professionals but will greatly benefit:
- Finance Executives
- Accountants
- Accounts Payable Managers
- Accounts Payable Supervisors
- Accounts Payable Staff
- Accounts clerks
- Accounts Officers
Course Level:
Course Objectives
- Identify the function of accounts payable and its role in organizations
- Use accounting principles related to accounts payable
- Describe how to take a successful lead in the management of accounts payable
- Assess AP operations and processes and recommend improvements using the latest best practices
- Evaluate main issues affecting AP staff in order to increase their efficiency and productivity
- Apply tools and techniques in Microsoft Excel to effectively manage and monitor AP performance
Course Outline
Module 1;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
- Accounts payable impact 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
Module 2; 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
Module 3; Key topics in accounts payable management
- Operational analysis and benchmarking
- Continuous process improvement
- Developing performance metrics
- 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 behavioural 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
Module 4; Accounts payable department as a real business partner
- When should we pay our suppliers
- Understanding cost of funds
- Evaluating early payment discount
- Pros and cons of early or late payments
- Relationship with the treasury department
Module 5; Using Microsoft Excel in managing accounts payable
- Interface between the accounts payable system and Excel
- Using pivot tables to extract valuable information
- Preparing and analyzing accounts payable aging
- Accounts payable role in improving suppliers commercial terms
Related Courses
Course Administration Details:
METHODOLOGY
The instructor-led trainings are delivered using a blended learning approach and comprise presentations, guided sessions of practical exercise, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience, working as professionals and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
ACCREDITATION
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
TRAINING VENUE
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
ACCOMMODATION AND AIRPORT PICKUP
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
TAILOR-MADE
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
PAYMENT
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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