Includes
Customer Support
BEST PRACTICES IN ACCOUNTS PAYABLE: PLANNING, ORGANISING AND ACHIEVING RESULTS
Date: 3 days, Mar.19 - Mar.21, 2025
Workshop Fee:
205000
Location: 13, John Olugbo Street, Off Toyin Street, Ikeja - Lagos, NG
Website: http://www.avantgardenigeria.com
Avant-Garde Resources Center (ARC)
Course Description:
Objective
The organization 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 workshop 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. Document 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 the end of the workshop, participants will be able to:
- The importance of the accounts payable function with regard to its links with the supply chain and cash flow
- 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
Content
The Accounting Environment
· Accounting and Financial Information
· Accounting Terminology
· Sources of Finance
· The Supply Chain
· Cashflow and Working Capital
Achieving Best Practices
· Defining Best Practice in Accounts Payable
· Managing Risk
· Issues in Accounts Payable
· Operational Methods
· Principles of Best Practices
Invoice Handling
· Dealing with Approvals
· Verifying Invoice Data
· How to Avoid Duplicate Payments
· Petty Cash Management
· Using Supplier Statements
Master Vendor File Management
· Naming Conventions
· File Maintenance and Security Issues
· Employee Reimbursement
· Cash Advances and Policy Management
Communications and Customer Relations
· Payment Status Information for Vendors
· Communicating Relevant Information
· Communicating with Internal Customers
· Harnessing Technology in Accounts Payable
FOR WHOM: Directors, Accountants, Auditors, Managers/Supervisors of Accounts Payable and others who perform related functions.