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Accounts Payable Accounts Payable Seminar
Presented by Academy of Business Training
Improve your accounts payable skills now
Course Description
- Learn industry recommended accounts payable procedures and best
practices.
- Learn from a professional with 30+ years business experience.
Accounts payable professionals are responsible for collecting, filing, and
processing invoices and making payments to vendors, customers, and other
third-party companies. Managers must make sure their department's payment
accounts are reconciled and bookkeeping entries are complete and accurate. Other
accounts payable duties include preparing tax forms, assisting the company with
the year-end closing, and coding accounting documents. Students will also study
the accounting equation.
This two day accounts payable training class will reveal today's best practices
for invoice handling, checks, 1099s, e-invoicing, audits, and all the tasks of
today's multi-tasking AP specialists and managers.
Each Student Receives:
- A student manual or textbook for use during and after
the class.
- Instruction from an experienced business professional (minimum
of 30 years) with at least five years in a corporate senior management
position (CEO, President, COO, Vice President, CFO).
- Real life exercises to support training materials.
- Individual attention (classes are limited to four
students).
- Personalized Certificate of Completion.
Class Outline
Introduction
Module 1: Master Vendor File
Who Has Access
Master Vendor File Set-Up
Using Naming Conventions
Making Changes to the Master Vendor
File
Master Vendor File Cleanup
Self-Service Master Vendor Files
Module 2: Invoice Processing
Receipt of Invoices
Invoice Handling: Approvals
Invoice Data Requirements
Verifying Invoice Data
Invoice-Coding Standards
Module 3: Checks
Approach to Paying by Check
Check Printing
Check Signing
Check Stock Storage
Distribution of Checks
Check Fraud
Use of Payee Name Positive Pay
Module 4: ACH (Electronic Payments)
Approach to Paying Electronically
Converting Vendors to ACH Payments
Handling Change of Bank Account
Requests
Convincing Vendors to Convert
Handling Remittance Information
Module 5: Payment Strategy
Establishing an Overall Payment
Strategy
Paying Small-Dollar Invoices
A Rush or Emergency Payment Policy
Payments Made Outside Accounts
Payable
Basic Fraud Protection against ACH
Fraud
Module 6: Policy and Procedures
Manual
Use of the Manual
Creating an Accounts Payable Policy
and Procedures Manual
Updating an Accounts Payable Policy
and Procedures Manual
Access to the Accounts Payable Policy
and Procedures Manual
Module 7: Operational Aspects
Paying When the Original Invoice Is
Missing
Limiting Calls to Accounts Payable
Petty Cash
Reviewing Supplier Statements
Adopting a Policy of Never Returning
Checks to Requisitioners
Module 8: Duplicate Payment Issues
Using Processing Standards
Duplicate Payment Avoidance
Mandating a Rigid Work Process
Some Quick Checks
Backup for Rush Checks
Module 9: Fraud Prevention: Checks
Use of Positive Pay
Pre-printed Check Stock Controls
Check Stock Storage
Other Check Fraud Prevention
Practices
Module 10: Regulatory Issues:
Information Reporting
A Form W-9 Requirement Policy
Collecting and Tracking W-9 and W-8
Policy
Using IRS TIN Matching Properly
Module 11: Communications/
Vendor Relations
Communicating Relevant Information
to Vendors
Communicating with Internal
Customers
Working with Purchasing
Customer Service in Accounts Payable
Module 12: Cash Management
Taking Early Payment Discounts
Payment Timing
Payment Status Information for
Vendors
Module 13: Managing the AP Function
Best Practice Policy
Policy and Procedures Manual
Staff Training
Soliciting Process Improvement
Recommendations
Payment Audits
Module 14: Invoice Problems
Short-Paying Invoices
Handling Unidentified Invoices
Handling Invoices without Invoice
Number
Discrepant Invoices
Module 15: P-cards
Designing a Best Practice P-Card
Program
Setting Strong Internal Controls
in Your P-card Program
Increasing Usage of the P-card in
Your Organization
Setting Attractive Payment Terms
Module 16: Operational Aspects
Paying When the Original Invoice Is
Missing
Limiting Calls to Accounts Payable
Petty Cash
Reviewing Supplier Statements
Adopting a Policy of Never
Returning Checks to
Requisitioners
Module 17: Internal Controls
Appropriate Segregation of Duties
Appropriate System Access
Policy when Employees Leave
Eliminating Weak Control Practices
Staff Training
Module 18: Fraud Prevention: General Separate
Computer for Online Banking
Wire Transfer Information Requests
Information on Internet for Vendors
Mandatory Vacation Policy
Job Rotation Policy
Handling of Change of Bank
Account Requests
Module 19: Travel and Entertainment
Policy
Formal Policy
Expense Report Form
Verifying Data
Handling Receipts
Detailed Meal Receipts
Module 20: Travel and Entertainment
Issues
Cash Advances
Unused Tickets
Departing Employees
Making Travel Reservations
Reimbursing Employees
Module 21: Regulatory Issues:
Unclaimed Property
Reporting and Remitting
Unclaimed Property
Performing Due Diligence for
Unclaimed Property
Using Social Media to Track Owners
of Unclaimed Property
Module 22: Regulatory Issues: Other
Proper Handling of Sales and Use Tax
Regular OFAC Checking
Foreign Corrupt Practices Act (FCPA)
Monitoring
Module 23: Technology
An Accounts Payable Technology
Plan
Handling E-mailed Invoices
Invoice Automation
Use of Mobil Devices in Accounts
Payable
More Seminar Information |
Academy of Business Training
|
Summary |
Improve your accounts payable skills now |
Delivery Method |
Seminar |
Who Should Attend |
Accounts Payable Personnel |
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