Introduction
The role of Accounts Payable involves providing financial, administrative, and clerical support to the organization. This includes completing payments, controlling expenses, processing, verifying, and reconciling invoices. Proper training in accounts payable ensures a well-organized department that aligns with the company’s overall objectives.
Learning Objectives
By completing the Accounts Payable Certification Course, participants will:
- Execute internal checks and controls to prevent and detect errors and fraud.
- Set up new supplier accounts.
- Monitor costs effectively.
- Perform supplier statement reconciliations.
- Review the Aged Creditors Listing.
Training Methodology
This course includes:
- Lectures
- Seminars & Presentations
- Group Discussions
- Assignments
- Case Studies & Functional Exercises Xcelerate Training Institute follows the ‘Do-Review-Learn-Apply’ model.
Benefits for Your Organization
Organizations will benefit from:
- Managing budgets and maximizing supplier discounts.
- Enhancing cash forecasting.
- Implementing efficient month-end and year-end procedures for management accounts.
- Effective filing systems.
Benefits for You
Participants will gain:
- Understanding of the importance of their role.
- Knowledge of auditors’ roles and preparation for their visits.
- Skills to manage customers’ and stakeholders’ expectations.
- Insights into best practices for invoice processing.
- Embrace of modern finance technology.
- Implementation of internal controls, risk management, and compliance.
Target Audience
This course is suitable for:
- Accounts Payable Clerks / Team Leaders / Managers
- Accounts Analysts
- Finance Assistants
- Finance Operations Managers
- Financial Controllers
Course Outline
Introduction to Accounts Payable
- Definition and Examples of Accounts Payable
- Current/Long-Term Liabilities
- Provisions
- Working Capital Management
- Role of Accounts Payable Staff
Accounts Payable – Trade Creditors
- Assessment of Suppliers
- Credit Requirements and Limits
- Cross-Supply Arrangements
- Payment Terms
- Warranty Arrangements
- Return of Goods
Purchase System
- Purchase Order and Requisition
- Pre-GRN Inspection
- Goods Received Note (GRN)
- Invoice Processing
- Post-Purchase Rejections
Recording
- Invoice Processing
- Three-Way Matching
- Inventory Updates
- A.T. Accounting
- Posting to Sub-Ledger
Payments
- Modes and Frequency of Payments
- Utilization of Credit Limits
- Month-End Closing Procedures
Other Liabilities
- A.T.
- Corporate Tax Liability
- Employee End-of-Service Benefits
- Proposed Dividends
- Other Liabilities
Internal Controls
- Monthly Reconciliation of Sub-Ledger
- Regular Confirmation of Balances
- Regular Review of Creditors Reports
- Age Analysis of Creditors
- Review of Credit Limits Utilization
- Write-back of Provisions
Case Study
- Complete Cycle of Accounts Payable