Accounts Payable Certification Course

Why Select this Training Course?

This Accounts Payable Certification Course is an essential professional development step for individuals looking to excel in the vital area of accounts payable management. Accounts payable is not just about paying bills; it is about managing cash flow, maintaining strong supplier relationships, and understanding the implications of payment terms and practices on the financial health of a business.

Will this course help me modernise?

Indeed, you’ll be introduced to the latest digital tools and software that can streamline your accounts payable processes, improving accuracy and efficiency.

How can this course enhance my value?

By equipping you with both the strategic understanding and tactical skills needed to optimise accounts payable in any business environment.

Who Should Attend?

This course is highly recommended for:

• Accounts Payable Clerks
• Accounts Officers
• Financial Controllers
• Bookkeepers
• Accounts Payable Managers
• Procurement and Supply Chain Professionals
• Anyone aspiring to a career in accounts payable or finance

What are the Course Objectives?

Course attendees will:

• Achieve a thorough understanding of accounts payable processes.
• Learn to manage invoicing and payment cycles effectively.
• Gain proficiency in accounts payable software and automation tools.
• Understand legal and compliance issues related to accounts payable.
• Develop strategies for fraud prevention and vendor management.

How will this course be presented?

The course will incorporate:

• Instructor-led sessions with active participation.
• Scenario-based learning around real-world problems.
• Group exercises and discussions.
• Practical, hands-on experience with accounts payable software.
• Continuous evaluation and feedback from industry specialists.

What are the Topics Covered in this Course?

Module 1: Implementing an AP Shared Service Centre

• Key benefits and challenges of a Shared Service Centre (SSC) for AP.
• Planning and designing an SSC for AP functions.
• Effective transition strategies from a decentralised to a centralised model.
• Governance and control in a shared service environment.
• Utilising technology for collaborative and efficient service delivery.
• Performance measurement and continuous improvement in an SSC.
• Managing cultural change during SSC implementation.
• Scaling and evolving the SSC with business growth.

Module 2: Treasury Interaction and the Role of AP

• Understanding the synergy between AP and Treasury functions.
• Managing short-term liquidity and working capital considerations.
• Aligning AP functions with corporate financing strategies.
• Involvement of AP in banking relations and negotiations.
• Integrating AP data with treasury for better financial forecasting.
• Support of Treasury operations through effective AP management.
• AP’s role in financial risk management.
• Optimising payment strategies for foreign currency exposure.
• Enhancing credit facility through AP performance.

Module 3: Payment Procedures and Controls

• Various payment methods and their uses.
• Scheduling and processing payments efficiently.
• Ensuring accurate payment to suppliers.
• Control measures to avoid duplicate payments.
• Electronic fund transfers (EFT) and banking integration.
• International payments and currency exchange considerations.
• Credit card payments and management.
• Reconciling payments and statements.
• Month-end and year-end closure processes.
• Handling payment queries from suppliers and internal stakeholders.
• Developing backup plans for payment systems.

Module 4: Vendor Management and Relationships

• Best practices in vendor selection and onboarding.
• Maintaining a master vendor data file.
• Negotiating payment terms and discounts.
• Effective communication with suppliers.
• Strategies for long-term relationship management.
• Regular vendor performance reviews.
• Handling supplier disputes.

Module 5: Regulatory Compliance and Auditing

• Internal and external audits: preparation and support.
• Ensuring accuracy and integrity of financial records.
• Abiding by local and international financial regulations.
• VAT reporting and compliance.
• Data protection and supplier confidentiality.
• Ethics and fraud prevention in accounts payable.
• Preparing for tax audits and filing requirements.

Module 6: Process Improvement and Automation

• Identifying bottlenecks and inefficiencies.
• Process mapping and reengineering for optimisation.
• Implementing automation tools and software.
• The role of AI in invoice processing.
• Use of electronic invoicing and payment systems.
• Data analytics for AP performance monitoring.
• Supplier self-service portals.
• Strategic sourcing and procurement integration.
• Best practices for change management.
• Disaster recovery and business continuity planning.
• Benchmarking and best practice assessment.

Module 7: Cash Flow Management and Forecasting

• Understanding the cash conversion cycle.
• Managing payables to improve working capital.
• Cash forecasting techniques and models.
• Negotiating early payment discounts vs. financing options.
• Utilising payment prioritisation strategies.
• Liaising with treasury for cash flow optimisation.
• Impact of payment timing on cash flow.

Module 8: Advanced Reporting and Analysis

• Building custom AP reports for internal analysis.
• Analysing AP data to identify trends and savings opportunities.
• Stakeholder report formatting and presentation.
• The role of dashboards in AP management.

Module 9: Training and Team Building in AP

• Developing a professional development plan for AP staff.
• Education on AP best practices and new regulations.
• Building a team culture that values accuracy and efficiency.
• Cross-training for skill redundancy and operational resilience.
• Effective communication techniques within the AP team.

Module 10: Advanced Technologies in Accounts Payable

• Introduction to emerging technologies in AP processes.
• The impact of blockchain on supplier payments and verification.
• Leveraging big data for AP strategy and decision making.
• Robotic Process Automation (RPA) to enhance AP operations.
• Implementing Optical Character Recognition (OCR) for invoice processing.
• Mobile applications for on-the-go AP management.
• AI-driven analytics for smarter payment practices.
• The potential of IoT in automating order and payment cycles.
• Cloud computing advantages for AP systems.
• Adaptation to digital transformation in the AP function.

Module 11: Strategic Vendor Negotiation and Management

• Techniques for effective vendor contract negotiation.
• Importance of SLAs (Service Level Agreements) in vendor relationships.
• Strategies for cost reduction and value maximisation with suppliers.
• Vendor risk assessment and contingency planning.
• Collaborating with vendors for mutual process improvement.
• Relationship-driven vs. transactional vendor management styles.
• The use of Vendor Management Systems (VMS).
• Conducting vendor performance evaluations.
• Ethical considerations in vendor management.
• Exit strategies for vendor contracts.

Module 12: Advanced Compliance and Fraud Prevention

• Deep diving into anti-fraud controls within AP.
• Best practices for conducting compliance audits.
• Latest compliance trends in anti-money laundering (AML) and Know Your Customer (KYC).
• Strategies for detecting and investigating AP fraud.
• Role of forensics in preventing AP fraud.
• Compliance in cross-border transactions.
• Utilising compliance technology and fraud detection software.
• Creating a culture of compliance within the organization.
• Reporting mechanisms for suspicious activities.

Module 13: Mastering AP Metrics and KPIs

• Critical metrics and KPIs for AP performance.
• Linking AP metrics to overall financial health.
• Benchmarking against industry standards.
• Utilising dashboards for real-time metric tracking.
• Cost per invoice and supplier lead times analysis.
• DPO (Days Payable Outstanding) optimisation techniques.
• Establishing Service Level Agreements (SLAs) based on KPIs.
• Metrics for measuring team efficiency and accuracy.
• Continuous improvement based on performance analytics.

Module 14: Handling Tax and Regulation in AP

• Understanding the impact of VAT/Tax on AP processing.
• International tax considerations for global organisations.
• Ensuring compliance with sales and use tax requirements.
• Managing AP tax audits and inquiries.
• Implementing a tax-effective AP strategy.
• Optimising tax credits and deductions in procure-to-pay processes.
• Understanding tax implications of cross-border payments.
• Regulatory reporting requirements and documentation best practices.
• Recent changes and updates in AP-related tax legislation.

Module 15: Effective Dispute Resolution in AP

• Identifying and addressing the root causes of disputes.
• Techniques for quick resolution of vendor payment issues.
• Role of the AP department in dispute escalation procedures.
• The impact of dispute management on supplier relations.
• Leveraging technology in the dispute resolution process.
• Documenting and learning from disputes to improve processes.
• Communication best practices during payment discrepancies.