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Accounts Payable Seminar

Presented by Academy of Business Training

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