Accounts Payables, Reconciliations and Income Tax Training
2 Day Training
Dates: 20 – 21 January 2025
Locations: Grayston Ridge Office Park, Sandton
Platform: Available In-Class / Online
Price: Available on request
Course Introduction
Prospen Africa’s Accounts payables department is responsible for many influential factors that contribute to the overall financial well-being of an organization because it oversees the flow of money out of the organization. Accounts payable objectives include making timely vendor payments, maintaining accurate data, nurturing positive relationships with suppliers, and researching ways to save money and improve the bottom line. All of these objectives help guide the overall accounts payable process.
The intelligent use of accounts payable automation ensures the highest level of efficiency and accuracy at every level. The process data available in modern AP automation solutions makes it possible to establish measurable, traceable, more definitive and meaningful goals for improved productivity and profits. Discover more about the objectives of accounts payable, and how AP automation is changing the role and responsibilities of AP professionals.
Course Objectives
At the end of the Accounts Payables, Reconciliations and Income Tax Training the delegates are expected to understand:
Accounting essentials for Accounts Payable
The crucial role of maintaining vendor relationship
The significance of having effective payable collection system
Effective ways of managing accounts payables
Accounts Payable processes and best practices
The behavioural side of managing Accounts Payable department
Accounts Payables Reconciliation Process
IAS 12 Income Tax application and disclosures
Who should attend?
The Accounts Payables, Reconciliations and Income Tax Training is best suited for:
Accounts Payables Practitioners
Accounts Payables Officers, Administrators, Managers
Creditors Officers
Creditors Clerks
Inventory Managers
Asset Management Practitioners
Book Keepers
Accounts Officers
Collection Officers
Credit Analysts
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 Session
The Important Role of Accounts Payable (AP) to business strategy
The meaning of managing accounts payable
The big picture : accounts payable and the financial health of organisations
The functions of accounts payable department and the role of AP staff
Accounts payable impact on working capital and cash management
Accounting Essentials for Accounts Payable
Accounts payable terminologies
General ledger and sub-ledger
Preparing for month end close and accruals
Accounts Payable Processes and Best Practices
Invoice handling and routing
The three way matching
Methods of payment processing
Maintaining the vendor master file
Travel and entertainment (T&E)
Procurement cards (P-Cards)
Ways of Improving Accounts Payable Management
Continuous process improvement
Development performance metrics
Applying best practices in your organisation
Identifying proper internal controls
The annual audit as an added value
Detecting fraud in accounts payable
DAY 2 Session
The Behavioural Side of Managing Accounts Payable Department
Improving the image of the accounts payable department
Ways to motivate accounts payable staff
Organising the accounts payable department
Closing communication gap
Dealing with internal customer service
Importance of internal customer service
Providing customer service to vendors
Accounts Payable Department as a Real Business Partner
When should we pay our suppliers
Understanding cost of funds
Evaluating early payment discount
Pros and cons of early or late payments
Relationship with the treasury department
Accounts Payables Reconciliations
Introduction to accounts payables reconciliation
Accounts Payable Reconciliation Process Basics
Benefits of Accounts Payable Reconciliation
Typical Steps of the Accounts Payable Reconciliation Process
How Often Accounts Payable Reconciliation Should Occur
Income Tax
IAS 12 Income Tax
Introduction to Income tax
Gross Income
Exempt Tax
Allowable deductions
Fringe Benefits and Allowances
