2 days workshop
INTRODUCTION
When it comes to time, resources, and money, your AP operation is filled with opportunities for improvement … and this seminar shows you exactly how to tap into them! You'll learn how to conserve cash resources while keeping vendors satisfied. You'll discover dozens of tips for eliminating the typical time-wasters that deplete your workday. You'll explore ways to cut through the complexities of payment cycles, terms, vendor discounts, and more, and you'll find out how to maximize company resources while minimizing the hassles
COURSE OBJECTIVES
By the end of this course you will be able to:
Create a smooth-running payment system that saves time, money and resources
Identify Operational & Capex Expenditure For Saving
Resolving the burning issues in your Account Payable Department
Using Technology to improve payment to supplier relationship
Understand the Best Practices Metrics For Accounts Payable
METHODOLOGY
Case Study , Group Discussion & Video. Account Payable cases will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Accountants, Business Managers, Finance executive , Finance Assistant, Senior Controller, Senior Supervisor, Senior Account Clerk, Accounts Assistants, Finance Secretary & Senior Executive
Special Feature: NOTE: Please bring laptop along
PROGRAMME OUTLINE
Day 1
Module 1: Purchases and Cash Disbursements Procedures
Purchase processing
Vouchers payable system
Cash disbursement system
Authorization Controls
Integrated Purchase Processing
AP Procedure Discussion
General Ledger Journal Entries
AP: Internal Control
Voucher Payable System
Accounts Payable Reconciliation
Cash Disbursement System
Purchasing And Cash Disbursements
Module 2: AP Burning Issues
Timely payment due incomplete documents
Received invoices late from vendor/outlets
PO not stated on the invoice
Timely closing of AP/accruals
PO issued but invoice never reached AP.
Cancellation of PO was never informed.
Changes in price quoted was not informed
Module 3: Strategy In AP Management- Sourcing
Steps In Cost Reduction
Identify Operational Expenditure For Saving
Identify Capex Expenditure For Saving
CFO Initiatives
Module 4: Creating an AP Strategy –Technology
Outsource Scanning & Data Capture
E-invoicing Networks
Streamline The Matching Of Invoices To PO
Day 2
Module 5. Accounts Payable
Voucher Entry And Maintenance Entry Overview
Provide a general flow of the Accounts Payable lifecycle
Introduce statuses used during the Accounts Payable (Voucher Entry) lifecycle
Module 6. Audit Of Acquisition & Payment
Recorded cash disbursements
Acquisition Transactions Are Properly Classified
Valuing The Inventory
Cutoff Of Accounts Payable Be Coordinated
Exercise
Module 7. Best Practices Metrics For Accounts Payable (Part 1)
Input Quality
Input Timeliness
A/P Process Quality
A/P Process Timelines
Module 8. Best Practices Metrics For Accounts Payable ( Part 2)
Output Timeliness
Customer and Vendor Satisfaction
Employee Satisfaction and Development