Accounts payable training course

Accounts Payable Training Course

Accounts payable are monies owed by a company to its creditors.

There are two major outflows of money in any organisations (i.e. salaries and accounts payable or creditors). If we can control these two aspects of a business then we can control our outflows. Our outflows or expenses have a number of implications on working capital, our income statement and balance sheet and need to be properly controlled.

In these tough economic times were every cent is turned over twice, it is essential that we control all outflows include accounts payable. The process to control and monitors and strategize about the latter is outlined in the accounts payable training course.

Areas covered in the  Accounts Payable Training Course include:

• Understanding the how Accounts Payable or creditors fits in in Financial Accounting and the Supply Chain.
• How to achieve world class practise in the Accounts Payable Processes. Looking beyondthe procurement cycle. Understanding the whole process including Invoice Processing, Handling, verification  and Approval Processes, avoiding double payments. Managing staff in this process. Here proper role clarification and dashboards to measure performance is required.
• Use technology. Technology can be very powerful in managing an accounts payable program however with its benefits come a number of challenges which need to be controlled as technology could provide the avenue for errors and even fraud. Policy and data stewardship (especially vendor master files)
• Maintaining adequate communications & supplier Relations Just like our customers, suppliers play a vital role in the success of a business. It is essential that we communicate properly with our suppliers and maintain good relations with them. If a supplier fails to perform for example because they have not been paid this can have disastrous implications in any organisation.
• Payment solutions.

For further details on the accounts payable training course offered throughout  South Africa (including major centres like Johannesburg, Sandton,  Durban, Cape Town, Port Elizabeth, East London, Bloemfontein) please fill in form below.