This GLOMACS Accounts Payable online training course 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 organisation 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.

By attending this online training course, delegates will understand:

• The importance of the accounts payable function and the need for effective and efficient controls
• The role of Accounts Payable Management in the control of the Working Capital of an organisation
• How to create effective Accounts Payable Dashboards to track and present department KPI’s
• How to motivate and engage Accounts Payable Staff
• The importance of reviewing international “best practices” to continual improve Accounts Payable operating performance

By the end of this online training course, you will be able to:

• 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
• Apply tools and techniques in Microsoft Excel to effectively manage and monitor AP performance

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

The organisation will gain through the development and application of capabilities and skills in key area of Accounts Payable management; specific benefits will include:

• Improved awareness of key business performance measures
• Greater insights from global best practice
• Better integration of wider financial process, for example purchase order management and supplier payments
• Raised levels of professionalism in the Accounts Payable team
• Improved human talent pool for internal succession planning
• More effective AP processing and the potential to reduce operating costs and time in a key area for financial transaction processing

As a delegate you will:

• Have a clear understanding of how to manage Accounts Payable
• Be pro-active in seeking and finding approaches to improve process and efficiency within Accounts Payable
• Communicate the importance of improving Accounts Payable process and its role in improving working capital management to colleagues
• Learn the latest developments in best practice in Accounts Payable

This online training course is suitable to a wide range of professionals but will especially benefit:

• Finance Executives
• Accountants
• Accounts Payable Managers
• Accounts Payable Supervisors
• Accounts Payable Staff

Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills

DAY 1

The Big Picture: Accounts Payable and the Financial Health of Organizations

• The Important Role of Accounts Payable (AP)
• The Meaning of Managing Accounts Payable
• The Functions of Management
• The Functions of Accounts Payable Department and Role of AP Staff
• Accounts Payable Impact on Working Capital and Cash Management

DAY 2

Accounting for Accounts Payable Accounting Essentials for Accounts Payable

• Accounting Essentials for Accounts Payable
• Accounts Payable Terminology
• General Ledger and Sub-Ledger
• Month End Accounting Entries and Accruals
• Control Account Reconciliations
• Developing a Reconciliation Plan for the Sub-Ledger

DAY 3

Key Topics in Accounts Payable Management

• 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

DAY 4

The Behavioral Side of Managing Accounts Payable Department

• Improving the Image of AP Department
• Ways to Motivate AP Staff
• Organizing the AP Department
• Closing the Communication Gap
• Dealing with Internal and External Disputes
• Providing Customer Service to Vendors

DAY 5

Using Excel in Managing Accounts Payable

• Interface between Accounts Payable System and Excel
• Using Pivot Tables to Extract Valuable Information
• Preparing and Analyzing Accounts Payable Aging
• Developing your AP Dashboard

In Association With

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.com