Course Details

This course is appropriate for a wide range of professionals but not limited to:

• Accounts Payable Specialists and Supervisors
• Procurement and Purchasing Officers
• Finance and General Accounting Staff
• Auditors and Compliance Officers
• Department Managers overseeing expenditure

• Expert-led sessions with dynamic visual aids
• Comprehensive course manual to support practical application and reinforcement
• Interactive discussions addressing participants’ real-world projects and challenges
• Insightful case studies and proven best practices to enhance learning

By the end of this course, participants should be able to:

• Explain the full procure-to-pay cycle and the role of AP clearly.
• Process vendor invoices accurately and manage necessary documentation effectively.
• Implement strong internal controls to prevent fraud and errors reliably.
• Apply best practices for managing vendor master data successfully.
• Utilize key AP metrics for process performance measurement correctly.
• Comply with relevant tax and regulatory requirements for payables confidently.

DAY 1

Fundamentals of Accounts Payable and the Procure-to-Pay Cycle

• Welcome and Introduction
• Pre-test
• Defining the role and importance of the Accounts Payable function
• The complete procure-to-pay cycle (requisition to payment)
• The three-way match (PO, Invoice, Receipt)
• Introduction to required documentation for vendor payments
• Principles of general ledger coding and expense allocation

DAY 2

Invoice Processing and Compliance

• Methods of invoice receipt and entry (manual, EDI, OCR)
• Data capture and validation techniques for accurate processing
• Managing and resolving invoice exceptions and discrepancies
• VAT, Sales Tax, and other tax implications for payables
• Compliance requirements for supplier onboarding (e.g., W-9, banking details)
• Handling foreign currency invoices and exchange rate differences

DAY 3

Controls, Fraud Prevention, and Technology

• Designing and implementing effective AP internal controls
• Common AP fraud schemes and detection techniques
• Segregation of duties and authorization matrix implementation
• Utilizing AP automation technologies (e.g., workflow, AI)
• Electronic document management and digital archiving solutions
• The role of AP in the month-end and year-end close process

DAY 4

Payments and Vendor Management

• Selecting and executing various payment methods (ACH, checks, wire transfers)
• Payment runs and reconciliation of the payment ledger
• Managing the vendor master file integrity and maintenance
• Strategies for maximizing discounts and optimizing payment terms
• Building strong vendor relationships and communication protocols
• Handling credit balances, debit memos, and vendor refunds

DAY 5

AP Metrics, Analysis, and Review

• Analyzing key AP performance indicators (KPIs)
• Measuring Days Payable Outstanding (DPO) and invoice processing time
• Auditing the AP function for efficiency and compliance
• Developing action plans for continuous process improvement
• Case studies and best practices in AP automation
• Post-test
• Certificate ceremony