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Golden Masters for Training & Consultancy Logo

Accounts Payable: Planning, Organising & Achieving Best Practice

by Golden Masters for Training & Consultancy

This programme 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.

AED 17000

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img Duration

5 days

Course Details

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.

This programme 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.

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 event, delegates will 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 general ledger

·         How to effectively manage cash and working capital to reduce costs and improve cash flow

·         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


Course Objective:

·         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

·         Analyse the need to incorporate risk and uncertainty into accounts payable analysis

·         Identify best practice across all industries

Course Certificate:

Masters Consultant certificate will be issued to all attendees completing minimum of 80% of the total tuition hours of the course.

Day One

Accounts Payable, Financial Accounting And The Supply Chain

The Accounting Environment

·         Accounting and financial information

·         Accounting terminology

·         Sources of finance

·         The supply chain

·         Financial position and financial performance

·         Cashflow and Working Capital

·         Why is cashflow so important?

·         The structure of the statement of cashflows

Day Two

Achieving World Class In Accounts Payable Processes

Achieving Best Practice

·         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

·         Invoice Handling

·         Operational

·         Master Vendor File Management

·         Travel & Entertainment (T&E)

·         Technology

·         Communication

Day Three

Improving Invoice Processing And Operational Management

Invoice Handling

·         Dealing with Approvals

·         Forwarding invoices

·         Verifying invoice data

·         Short paying invoices

·         Paying “low value” items

·         Identifying “Unidentified” invoices

·         Handling invoices without invoice numbers

·         Operational

·         How to avoid duplicate payments

·         Limiting telephone calls to AP

·         Petty cash management

·         Using Supplier statements

Day Four

Harnessing Technology In The Ap Processes

Master Vendor File Management

·         File setup  – getting it right from the start

·         Naming conventions

·         File maintenance and security issues

·         Travel & Entertainment

·         Policy management

·         Cash advances

·         Reporting forms

·         Handling receipts

·         Reservation management

·         Employee reimbursement

Technology

·         Imaging and workflow

·         Using the internet for AP effectiveness

·         Electronic invoicing

Day Five

Making the Payments and Maintaining The Relationships

Communications & Customer Relations

·         Payments status information for vendors

·         Communicating relevant information to vendors

·         Communicating with internal customers

·         Improving Procure to Pay(P2P)Cycle

Masters Training Company was established in response to the growing need for quality training to support the business community within your Company, Department or Organization by providing a high standard of Training Programs, Courses, Seminars, Workshops and Consultancy Services to employees in a very competitive business environment. 

 
Following the latest trends and ideas in Technology and Management techniques, and with its in-depth knowledge of the business environment, Masters Training Company is able to meet the special requirements of both local and international business throughout the Middle East. Masters Training & Consulting is an independent multinational firm with more than 25 years of experience in helping regional organizations develop their human capital in all fields of management. 
 
Since 1990, we have been entrusted by our clients to provide the most reliable training and consulting products and services in the region. Our innovative and diversified range of training programs and consulting services are designed and delivered by an ever-growing team of full time multilingual consultants experienced in providing solutions relevant to this part of the world and applicable to today’s business challenges.
 
We pride ourselves on our track record in this regard and on our long-standing relationships with our clients, many of whom have been with us since we started business. 
 
 
Our public training programs have attracted more than 300,000 participants from almost 3,000 organizations many of whom also entrust us with their needs for bespoke in-company programs. Our client base is steadily growing and so is our commitment to remain the regional leaders in the fields of training and consulting.

Masters is also an approved vendor from KHDA & ILM

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  • Sheikh Zayed Road Branch

    Kherbash Tower, Office # 1803 & 1804, Sheikh Zayed Road, Dubai

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