| Course Overview
Accounts Payable plays several key roles in any organisation, such as making payments, maintaining cash flow, and providing checks and balances on authority limits.
Learn how to develop an efficient, robust, fraud resistant and regulatory compliant Accounts Payable function within your organisation.
With such a multi-faceted function as AP it is vital to manage workloads, find ways to improve processes, and ensure solid controls are in place to manage the ‘people component’. You will learn how to add real value, understand what new technology can do, and grasp highly effective ways to improve your overall performance.
This event is designed to bring those who are new to the function up-to-speed as well as illustrate some of the finer points for those with years of experience under their belt.
Benefits of Attending:
- Improve your Efficiency using simple techniques for streamlining the entire payment process
- Learn how to audit-proof your entire record-keeping system
- Tame that “paper tiger” with super organizational tips that will revolutionize the way you handle paper from now on
- Discover how to analyze your organization’s current controls for weaknesses and holes –– and eliminate costly potential for error
- Put an end to petty cash abuses (and headaches!) by gaining control over this commodity
- Use secrets the pros rely on to get approvals, verifications, signatures and sign-offs quickly and easily
- Stay on top of your enormous workload with proven shortcuts and time-savers
- Learn how to eliminate the potential for duplicate payments with a fail-safe system
- Understand the Procure to pay cycle
- Payee and Payment Processing
- Learn how the Periodic Processing works
- Understand the Bach Processing
Who should Attend?
- Accounts Officers Financial Controllers Bookkeepers Financial Managers Payroll Officers
- Auditors Business Analysts Accounts Payable Managers/Officers
- Accounts Receivables Managers/Officers Loan Officers
Workshop Day One:
0730-0800 Registration and Morning Refreshments
0800-0830 Facilitators opening remarks
0830-0930 Introduction to Accounts Payables Fundamentals
- Grasping all that Accounts Payable is- and what it isn’t
- Why is it Important and how does it add value to your organization
- Acknowledging that your role is more than paying bills
- Developing the best success characteristics and abilities that AP pros share
- Reviewing critical processes, systems and procedures
- Success Element of Highly Successful AP Pros
- The importance of Authority Limits
0930-1030 Regulatory Frameworks Affecting the Payment Process
- What the regulations say about how you make and record the key payments
- Organizational Accounts payable policy
- Sales and Use Tax compliance issues and how to handle them
- Understanding important year-end reporting requirements
- How Exemption Certificates (or lack thereof) can cause surprises and unforeseen costs in an audit
- How Exemption Certificates need to be distributed
- Methods of insuring consistency from all points in your organization
- Audit methods to be aware of
- About some free services you can use to help with administrative details
1030-1100 Tea Break
1100-1300 Key Areas of Performance improvement in APs
- What AP techniques can you implement in your accounts department to increase efficiency?
- Human resource requirements for Accounts Payable and their optimal utilization.
- Taking advantage of technological developments to enhance the operations of your AP department
- Time management vs. Tasks
- Continuous improvement of processing methods
- Development of effective AP management reporting tools within your accounts department
Practical exercise
1300 -1400 Lunch
1400-1500 Accounts Payable Systems: Incorporating Technology in the AP departments
- Examining data capture, workflow and document management
- Integration of placement into electronic format of the purchasing & AP system
- Electronic invoices, purchase orders and shipping documentation
- Effective AP management and how to detect and correct out-of-tolerance transactions
- Transaction resolution (the end to end process from purchase orders to payments)
- How to make adjustments that do not wreak havoc to related systems and processes
- Why it is important to back up AP and other financial data
- Looking at the current and future trends in transaction processing
1500-1600 Integrating purchasing and Accounts Payable to create an efficient procurement process
- Closing the loop between procurement and AP to create a total procurement process
- Working with purchasing and your suppliers to cut payment transaction volume and reduce transaction cost
- Using techniques such as summarized bills for your suppliers
- Automatic matching of purchase orders, delivery notes and invoices
- Re-engineering AP to support your procurement strategies
1600 Facilitator`s Closing Remarks and End of Day One
Workshop Day Two:
0730-0800 Registration and Morning Refreshments
0800-0900 Close-Off Period Key Techniques
- Standardizing procedures and simplifying the process – getting your files in order
- Learning how to delegate tasks to other staff members involved in the process
- Preparing subsidiary information away from the close-off period to free-up more time
- Using estimates and accruals effectively during your close-off period
- Looking at the reports that management actually use and eliminating unnecessary information
- Year end close-offs: Strategies and tips to make it easier
- How to reconcile the AP ledger to the general ledger
0900-1030 AP as a Cost-Cutting Tool
- The importance of maintaining accurate AP records and its effect on cash flow forecasting
- Are the results of AP policies and procedures effectively measured and is cash flow maximized?
- Did you get what you paid for? How to ensure you don’t pay for goods and services until problems are resolved
- Techniques for helping to eliminate duplicate payment
- How to ensure that your agreed payment terms are a “win-win” situation
- Determining if an early payment discount is a good deal
- Developing a tracking system that follows an invoice from receipt, through approval and payment
1030-1100 Tea Break
1100-1300Effective records keeping
- 3 steps to posting entries in you AP programme
- Establishing a filing system that ensures you have information ready for your auditors
- Building vendor files and what to put in them
- Granting access in a way that won’t add to your workload when they are done
- Implementing safeguards that keep your files accessible without letting others mess them up
- Keeping confidential information truly confidential
- Secrets to setting up files that will hold up under any scrutiny
- Updating current government requirements regarding how you should handle certain payments
- Advancing planning strategies that guarantee you’ll shine through any audit
- Vendor information you’d be required to have should a dispute end up in court
1300-1400 Lunch
1400-1600 Fraud and Theft Prevention Methods
- Tried and tested techniques for checks and balances into AP processes
- Fraud prevention strategy
- Fraud awareness campaigns: Consequences of fraud within and outside an organization
- Effective internal controls within your AP function:
- Division of responsibilities
- Rotation of duties
- Procedures and reviews
- Management accountability
- Internal audit
1600 Facilitator`s Closing Remarks and End of Workshop
| In- House Training
If you answered yes to any of these questions, then Federated Institute In House Training is the solution for your training needs.
With in house training, you choose the timing and location of the seminar, and can customise the course content to meet your organisation’s own particular training needs. In house ensures that only your team is present at the course, ensuring privacy which facilitates open and frank discussions when training.
We can even create a bespoke one or two day course on a training issue of your choice. |
- Do you have 8 or more staff members that need training
- Do you want to train at your own venue and at a time that is convenient for you
- Do you want to save up to 30% on public course training costs
The 3 Benefits Of In-House Training
- Complete confidentiality in discussing your organisation’s sensitive issues
- You can tailor the course content to suit your particular needs
- No travel or Accommodation costs to pay for your staff
For a free quote on In–House Training : You can contact email: jessica |
| Number of Delegates |
Price |
Vat |
Total incl. |
| Price per Delegate |
R8.999 excl Vat |
15% |
| 3-4 Delegates (5% Discount) |
| 5-9 Delegates (10% Discount) |
| 10 Delegates (15% Discount) |
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