Accounts Payable: From Accounting to Management is an essential course offered by the British Academy for Training and Development. The course is designed to help professionals master the processes, practices, and strategic aspects of accounts payable (AP) operations. Whether you are a beginner in the accounting field or a manager looking to enhance your AP processes, this course provides valuable insights into everything from basic accounting principles to advanced AP management techniques.

Participants will learn how to efficiently manage accounts payable, understand the financial implications of AP decisions, and improve cash flow and supplier relations. By the end of the course, attendees will be equipped to handle complex AP tasks, from recording and verifying invoices to managing vendor relationships and ensuring compliance with organizational and regulatory requirements.

Who Should Attend?

• Accounts payable clerks and staff members.
• Financial officers and accountants seeking to enhance their AP knowledge.
• Managers responsible for AP operations or overseeing financial processes.
• Business owners who want to improve the efficiency of their AP system.
• Professionals aiming for career growth in accounting and finance management.
• Individuals transitioning into roles that involve AP oversight.

Knowledge and Benefits:

After completing the program, participants will be able to master the following:

• Understand the full scope and functions of the accounts payable process.
• Implement effective strategies for managing cash flow and vendor relations.
• Recognize the importance of accurate invoice processing and payment approval systems.
• Understand the relationship between accounts payable and broader financial operations.
• Gain practical skills in handling the complexities of AP management, from reconciliation to compliance.

• Overview of Accounts Payable
  • The role of AP in financial operations.
  • Key terms and concepts in accounts payable.
  • The importance of AP in the broader financial cycle.
• Basic Accounting Principles for Accounts Payable
  • Understanding the general ledger and AP entries.
  • Recording invoices and payment processing.
  • Reconciling AP accounts with the general ledger.
• Understanding Cash Flow and Payment Terms
  • The role of accounts payable in managing cash flow.
  • How to manage payment terms and optimize supplier agreements.
  • The impact of payment schedules on the company’s financial health.
• The Invoice Life Cycle
  • Steps from receiving an invoice to making a payment.
  • The documentation required for invoice verification.
  • Common errors in invoice processing and how to avoid them.
• Best Practices in Invoice Verification
  • How to verify invoices against purchase orders and receipts.
  • Managing discrepancies in invoices and resolving issues.
  • Setting up approval workflows for invoice processing.
• Handling Payment Methods and Technologies
  • Different types of payment methods (e.g., bank transfers, checks, and electronic payments).
  • The benefits of adopting e-payment systems for AP.
  • How to implement and manage payment automation tools.
• Building Strong Vendor Relationships
  • How to maintain effective communication with suppliers.
  • Negotiating favorable terms and discounts with vendors.
  • Resolving disputes and fostering long-term business partnerships.
• Vendor Reconciliation and Payment Disputes
  • How to reconcile accounts with suppliers and resolve outstanding discrepancies.
  • The role of regular audits in vendor management.
  • Handling payment disputes and ensuring timely resolution.
• Managing Supplier Data and Records
  • Best practices in maintaining accurate supplier records.
  • How to keep track of supplier performance and payment history.
  • Ensuring compliance with data protection and privacy regulations.
• AP Reporting and Financial Controls
  • The importance of regular AP reporting for financial transparency.
  • Key AP metrics and KPIs to track.
  • How to ensure internal controls are in place for accurate reporting.
• Legal Compliance in Accounts Payable
  • Understanding the regulatory environment for AP processes.
  • Compliance with tax laws and how it affects AP.
  • How to handle tax deductions, withholding, and other legal considerations.
• Risk Management in Accounts Payable
  • Identifying and managing potential risks in AP operations.
  • Setting up fraud prevention measures in the AP process.
  • How to protect against common errors and inefficiencies in AP.
• Optimizing Accounts Payable Operations
  • Strategies for improving the efficiency and accuracy of the AP process.
  • Automation tools and technologies for AP optimization.
  • How to streamline invoice approval workflows and payment processing.
• Leveraging Technology in Accounts Payable
  • The role of ERP and accounting software in AP management.
  • Implementing automation tools for invoice processing and payment.
  • Benefits of integrating AP systems with other financial operations.
• Strategic Decision-Making in Accounts Payable
  • Using AP data to make informed financial decisions.
  • Managing cash flow strategically and aligning AP with business goals.
  • How to evaluate and enhance vendor performance for cost savings.