Course description
In today’s business climate, organizations in every sector are under pressure to do more with less. That means businesses cannot afford to squander opportunities to free up their working capital. By giving you greater availability to the cash trapped on your balance sheet, a formal working capital strategy can deliver the added liquidity you need to fund growth, streamline processes, reduce costs, enhance service levels and seize new investment opportunities as they arise.
The management of the accounts payable (creditors) of an organization is essentially just one aspect of the management of the cash flow of that organization. Since organizations cannot survive without adequate cash flows, it follows that the management of accounts payable is a vital aspect of cash flow management.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
Accounts Payable - Planning, Organising and Achieving Best Practice training course, is ideal for :
- Finance Executives and Professionals
- Accountants
- Accounts Payable Managers
- Accounts Payable Supervisors
- Accounts Payable Personnel
- Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills
Outcome / Qualification etc.
At the end of Accounts Payable - Planning, Organising and Achieving Best Practice training course, delegates will be able to understand:
- The importance of the accounts payable function with regard to its links with the supply chain and cashflow.
- The integrated systems of purchase order processing, stock (inventory) control, purchase ledger and cash payments and their links with the generalledger.
- How to effectively manage cash and working capital to reduce costs and improve cashflow.
- The impact of risk and uncertainty on the business and its impact on accounts payable and cashflow.
- How leading companies from across the globe are achieving best practice in Accounts Payable.
- Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain
- Understand and apply the fundamentals of accounts payable systems
- Review and comment on payment methods and cash management
- Analysethe need to incorporate risk and uncertainty into accounts payable analysis
- Identify best practice across all industries
Training Course Content
Day 1
Accounts Payable, Financial Accounting and the Supply Chain
- Accounting and financial information: Accounts Payable in context
- Sources of finance
- The supply chain
- Financial position and financial performance
- Cash flow and Working Capital
- Why is cash flow so important?
Day 2
Achieving World Class in Accounts Payable Processes
- Defining Best Practice in AP
- Moving beyond P2P
- Managing Risk
- Principles of Best Practice
- End to End AP Process
- Defining the issues in Accounts Payable
Day 3
Improving Invoice Processing and Operational Management
- Invoice Handling and Approval Processes
- Verifying invoice data
- Paying “low value” items
- How to avoid duplicate payments
- Making the best use of staff time: limiting telephone calls to AP
- Does Petty cash management belong in Accounts Payable?
Day 4
Harnessing Technology in Accounts Payable Processes
- Master Vendor File Management – getting it right from the start
- Travel & Entertainment
- Policy management
- Cash advances and employee reimbursement
- Process improvement through imaging and workflow
- Using the internet for AP effectiveness
Day 5
Making the Payments and Maintaining the Relationships
- Communications & Customer Relations
- Payments status information for vendors and internal customers
- Improving Procure to Pay(P2P)Cycle
- Payments and Payment Solutions: Accounts Payable or Treasury?
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...