Accounts Payable

Introduction

This Accounts Payable 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 GLOMACS 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

Objectives

At the end of this training course, you will learn:

• 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 accounts payable performance

Training Methodology

This Accounts Payable training course will provide the theoretical background and techniques that underpin the organisation and management of accounts payable and its related functions. It will provide a real world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.

Organisational Impact

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

Personal Impact

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