prospen.co.za

ProspenAfrica | Training and Consulting Services Provider

5 Day Training

Dates: 10 – 14 June 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on request

This is a Non-accredited Course

Course Introduction

This comprehensive 5-day 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

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

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: Understanding the Landscape of Accounts Payable

  • Exploring the strategic role of AP in organizational financial health.

  • Defining the management of AP and its implications.

  • Overview of management functions relevant to AP.

  • Diving deep into the roles within an AP department.

  • Analysing the effects of AP on working capital and cash flow.

Day 2: Fundamental Accounting Concepts for Accounts Payable

  • Refreshing accounting principles vital for AP operations.

  • Demystifying AP terminology for clarity and precision.

  • Navigating through general ledger and sub-ledger mechanics.

  • Month-end procedures: Accruals and adjusting entries.

  • Reconciling control accounts and crafting a sub-ledger reconciliation strategy.

Day 3: Strategic Accounts Payable Management Practices

  • Implementing industry best practices in AP.

  • Establishing robust internal controls.

  • Leveraging the annual audit to add value to AP.

  • Evaluating the impact of outsourcing AP functions.

  • Identifying and preventing fraud within AP processes.

Day 4: Behavioural Dynamics in Managing an Accounts Payable Team

  • Enhancing the reputation of the AP department within the organization.

  • Motivational strategies for AP personnel.

  • Structuring an efficient AP department.

  • Bridging communication gaps and handling disputes.

  • Providing exemplary customer service to vendors and stakeholders.

Day 5: Leveraging Excel for Accounts Payable Management

  • Integrating AP systems with Excel for data analysis.

  • Employing pivot tables to uncover insights from AP data.

  • Preparing and interpreting AP aging reports.

  • Building a custom AP dashboard for monitoring and reporting.

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