The Essentials of Accounts Payable
An intensive two-day workshop designed to boost the efficiency and effectiveness of accounts payable professionals.
Program
Description
Program
Description
As
an accounts payable professional, your hours are long, your workload is
overwhelming, and somebody somewhere always “needs it yesterday.” Deadlines
are always looming, the pressure is constant, and if there hasn’t been
at least one headache-inducing crisis before lunch, it’s truly your lucky
day!
The AP challenges you face day in and day out are enormous, and even a
single mistake can cost your company big-time! If you’ve ever groaned
in frustration, “There’s GOT to be a better way,” help is at hand!
The Essentials of Accounts Payable is a powerful, new 2-day workshop that
features skill-building instruction on the latest proven AP techniques,
tools and time- and money-saving tips.
What separates this intensive program from others is that it’s two skill-packed,
highly interactive days of training, packed with practice sessions, exercises
and real-world scenarios that guarantee you’ll master –– and retain —
the crucial skills you’re learning. And rest assured, we discuss ONLY
those shortcuts and methods of streamlining AP processes that are proven
to save you time and effort — without additional risk to accuracy.
We’ve boiled down volumes of information into the “most important of the
most important,” so you’ll learn the tools, tips and techniques that will
make the greatest impact in your day-to-day efficiency and performance.
What
You’ll Learn
- Dramatically improve your efficiency using simple
techniques for streamlining the entire payment process
- Learn how to audit-proof your entire record-keeping
system
- Tame that “paper tiger” with super organizational
tips that will revolutionize the way you handle paper from now on
- Discover how to analyze your organization’s current
controls for weaknesses and holes –– and eliminate costly potential
for error
- Put an end to petty cash abuses (and headaches!) by
gaining control over this commodity
- Use secrets the pros rely on to get approvals, verifications,
signatures and sign-offs quickly and easily
- Stay on top of your enormous workload with proven
shortcuts and time-savers
- Learn how to eliminate the potential for duplicate
payments with a fail-safe system
- Build in safety nets that guarantee no invoices fall
through the cracks
- Sidestep the most costly AP mistakes –– and save your
organization big bucks!
- Discover how to take full advantage of vendor discounts
to make easy money for your organization
- Always know you’ve got what you paid for with simple
tracking tips
- Negotiate your way out of paying late fees
- Take the hassle out of setting up vendor number controls
and receiver controls
- Catch mistakes when you’re overloaded, with strategies
that work like a charm
- Meet current government requirements on the handling
of certain payments
- Pinpoint and eliminate bottlenecks in the flow of
invoices through your organization
- Put an end to common errors that lead to overpayments
- Handle difficult suppliers and vendors with finesse
–– even in awkward situations!
- Spot overcharges and billing discrepancies in any
invoice by using proven techniques
- Determine when vendor “discounts” aren’t such a great
deal after all
- Know exactly what to look for in a good AP computer
software system
- Understand which key skills you should be developing
to position yourself for ongoing AP career success
- Implement safeguards that keep your files accessible
without letting others mess them up
- Work more efficiently and productively in your tough
job –– with far less hassle and frustration!
Top
of Page
Who
Should Attend
- Accounting professionals
- Customer service managers
- Small business owners
- Collections professionals
- Salespeople
- Credit professionals
- Bookkeepers
- Financial managers
Workshop
Agenda
Where You Fit In: Understanding the Importance of Your Role in the
“Big Picture”
- Why accounts payable is a crucial job in any company
- How your organization’s reputation in the outside
world depends on you
- Qualities the best AP pros share
- Authority and responsibility: Who has it, who wants
it, and who needs it?
- Critical success elements of highly effective AP pros
- How does your organization’s AP stack up?
- A review of critical processes and procedures
Organizing
and Managing Your Enormous Workload
- The essentials of managing mountains of invoices
- Techniques for streamlining your payment process
- Strategies for catching mistakes when you’re overloaded
- Setting up vendor files –– the easy way!
- How do invoices flow through your organization?
- Spotting bottlenecks and problems you can’t risk
- 6 questions every AP professional must ask about each
invoice
- Learn the secrets of “matching” your bills
- Is your AP computer software working hard for you,
or against you?
- What to look for in a good system
Save Time with These Super Shortcuts
- 7 habits of today's most effective AP professionals
- Tracking tips that ensure you've received what you're
paying for
- Built-in safety nets to guarantee no invoices fall
through the cracks
- Techniques to make sure suppliers receive your checks
on time … every time!
- How to maintain current and accurate payment records
without jumping through unnecessary hoops
- Simple ways to stay on top of varying billing cycles
Essential
Controls to Implement NOW!
- A review of your organization's controls - how do
you stack up today?
- When is withholding payment permissible?
- Setting up vendor number controls and receiver controls
- A fail-safe system that eliminates duplicate payments
- What to do when glitches in your system interfere
with prompt
invoice payment
- Attributing the expense to the right account - your
role in ensuring accurate business records
- What you can personally do to control information
flow
- Red flags that let you know you've received an invoice
late … and what to do about it
- How to spot …
and stop! … expense account padding
Zapping
Time-Wasters and Tapping into Money-Savers
- When to cash in on discounts for early payment and when a supposedly
"good" deal is no deal at all!
- Top reasons why manual checks must be minimized
- Processing purchase orders and invoices the fast and efficient way
- Negotiate your way out of paying late fees
- What government regulations might be relevant to your bills
- The top costly errors in AP - and how to avoid them
The
"People Factor" -- How to Get What You Need, When You Need It
- Getting approvals and authorizations without getting headaches
- Secrets to getting others to give you all the information you need
right up front
- 5 reasons to get along with the purchasing agent (even if you'd really
rather not!)
- The most important rule in vendor/supplier relationships
- The basics of maintaining lines of credit with vendors
- Keeping a lid on the petty cash situation
- How to negotiate great payment terms
Organized, Complete and Accessible Files and Records
- Keeping confidential
information truly confidential
- Making your files
accessible without allowing others to mess them up
- Secrets to setting
up files that will hold up under any scrutiny
- Update on current
government requirements regarding how you should handle certain payments
- Advance planning
strategies that guarantee you'll shine through any audit
- Vendor information
you'd be required to have should a dispute end up in court
- Are you audit-ready?
How to know for sure
- Year-end reporting:
1099s and more
What's on
the Horizon for AP?
- Projections regarding
procurement, credit/debit cards, the internet and computer-based receiving
- Self-development
and professional-development tactics for savvy AP pros
- An eye-opening
discussion on the business needs of the future and where today's trend
and tendencies are leading us