Accounts Payable: From Accounting to Management
2 Day Training
Locations: Grayston Ridge Office Park, Sandton
Platform: Available In-Class / Online
Price: Available on request
Course Introduction
Prospen Africa’s Accounts Payable: From Accounting to Management comprehensive course equips professionals with advanced knowledge and techniques to manage Accounts Payable (AP) effectively. Through a mix of theory, best practices, and practical Excel applications, delegates will learn how to optimize AP processes, enhance cash flow management, and contribute to the overall financial health of their organizations.
Course Objectives
After attending this Accounts Payable: From Accounting to Management Participants will learn to:
Understand the strategic importance of AP and its impact on working capital.
Implement efficient AP controls and management strategies.
Develop and use KPI dashboards for real-time AP monitoring.
Enhance team motivation and engagement within the AP department.
Apply international best practices to continuously improve AP performance.
Gain proficiency in using Excel for AP management.
Organizational and Personal Impact:
Enhanced understanding of AP’s role in financial success.
Adoption of global best practices.
Improved financial process integration.
Professional development of AP personnel.
Strengthening the talent pool for succession planning.
Streamlined AP processes for cost and time savings.
Who should attend?
Finance Executives
Accountants
AP Managers, Supervisors, and Staff
Professionals involved in AP processes
Those looking to enhance their professional toolkit in AP management
Training Methodology
Our diverse instructional approaches ensure effective learning:
– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.
Training Outline
Day 1: Fundamentals of Accounts Payable and Financial Management
Morning Session: Understanding Accounts Payable
Introduction to the Accounts Payable Function
Role and importance in organizational financial health
Impact on working capital and cash flow management
Accounts Payable in the Organizational Structure
Functions and management roles
The relationship between AP, procurement, and treasury
Afternoon Session: Accounting Essentials and Controls
Core Accounting Principles for AP
Understanding AP terminology and accounting cycles
Managing month-end accounting entries, accruals, and reconciliations
Enhancing Controls and Fraud Prevention
Implementing robust internal controls
Fraud detection techniques in AP
The role of annual audits and AP outsourcing
Day 2: Best Practices in Management and Excel Utilization for AP
Morning Session: Best Practices and Organizational Impact
Applying Global Best Practices in AP
Case studies of successful and unsuccessful AP strategies
Benchmarking and continuous improvement
Motivation and Departmental Efficiency
Techniques to motivate and engage AP staff
Effective communication strategies and dispute resolution
Afternoon Session: Technological Proficiency in AP
Excel Skills for Accounts Payable Management
Interface between AP systems and Excel
Utilizing pivot tables and data analysis tools
Creating and Using AP Dashboards
Designing a dashboard to track AP KPIs
Analysing AP aging reports for decision-making
Course Conclusion:
Summary and wrap-up
Q&A session
Action plan for implementing learned skills and strategies
Related Courses
