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Accounts Payable Management

Basic Finance Skills Picture
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Course Description

This course is a training guide for the new manager of an accounts payable department.  It will help you step into your new role and take a commanding and successful lead. This course will take what you know and enhance it by adding management principles to those practices.  Accounts payable is not just processing checks, mailing them and then filing the backup paperwork.  To truly manage accounts payable, you must understand all parts of the department including but not limited to customer service, vendor management, check requests and POs. 
This course will discuss how to handle invoices; check processing ; preventing errors; annual audits; and technology uses in the department.  Learn all about the best practices to adapt for your A/P department, PLUS, get expert advise from a well-seasoned disbursement manager with many years of A/P experience.
 
 

The class will take what you know and enhance it by adding management principles to your practices.   To truly manage Accounts Payable, you must understand all parts of the department, including but not limited to;  customer service, vendor management, check requests and POs. 

All material is provided in the course. Subjects covered within the course are as followed: Overview to Managing the Accounts Payable Department, Invoice Handling, Checks, Preventing Errors, Customer Service, Internal Controls and the Audit, Master Vendor Files, Discounts and Deductions, Travel and Entertainment, Software, Fraud and Independent Contractors.

  • Completely Online
  • Self-Paced
  • Instructor Feedback
  • 6 Months to Complete
  • 24/7 Availability
  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
Universal Class is an IACET Accredited Provider
 
 
 

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Course Lessons

Average Lesson Rating: (2458 votes)
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"Extraordinarily Helpful"
6/27/2017 11:35:03 AM

What Is a Manager?

Accounts payable are the "veins of a business." Great accounts payable managers of any organization must know the fundamentals and have a solid understanding of how to run their department. 63 Total Points
  • Lesson 1 Video
  • Review Article: The Accounts Payable Network
  • Take Poll: Role Model
  • Complete Assignment: Introduction
  • Complete Assignment: Manager Role
  • Complete Exam: Manager

Handling Invoices

This lesson and the next one form the core of a new set of skills that will help you in your new position. These two lessons cover the invoice-handling and check process that your department does. 103 Total Points
  • Lesson 2 Video
  • Review Article: Invoice
  • Take Poll: Unions
  • Complete Assignment: Invoice Process
  • Complete Assignment: Steps for an Invoice
  • Complete Exam: Invoices

Checks

This lesson is about the core of your department's purpose: work flow-processing. 103 Total Points
  • Lesson 3 Video
  • Review 3 Articles: Writing and Recording Checks; How to Balance a Checkbook; eChecks
  • Take Poll: Organizational Chart
  • Complete Assignment: Steps for Check Processing
  • Complete Assignment: Rush Checks
  • Complete Exam: Checks

Preventing Errors

Duplication and missing invoices are common problems in accounting departments. In this lesson, you will learn some of the ways you can reduce errors. 32 Total Points
  • Lesson 4 Video
  • Review 2 Articles: Catching Accounting Errors; Reconciling Your Accounts
  • Complete Assignment: Prevention
  • Complete Exam: Prevention

Customer Service, Internal Controls and the Annual Audit

Internal controls and the annual audit are long-accepted concepts, but customer service may be a new one. Sure, you have heard of it before but rarely in relation to your department. 72 Total Points
  • Lesson 5 Video
  • Review 3 Articles: Planning for Your Annual Audit; Accounts Payable Customer Service Quick Survey; Internal Communications
  • Take Poll: Non profit vs Profit
  • Complete: Assignment 1
  • Complete: Exam 5

Fraud: Vendor, Employee and Check

This lesson will cover the aspect of fraud in relation to vendors, employees, and checks. 90 Total Points
  • Lesson 6 Video
  • Review Article: Preventing Accounts Payable Fraud
  • Take Poll: Office Supplies
  • Complete Exam: Fraud

How Companies Use Technology in Accounts Payable

The Internet was covered in a previous lesson. In this lesson, we spend some time talking about other uses of technology for the accounts payable department. 91 Total Points
  • Lesson 7 Video
  • Review 2 Articles: Accounts Payables Network; 10 Best Practices for Accounts Payable
  • Complete Assignment: Technology
  • Complete Exam: Technology

Traditional Functions and the 21st Century

Reimbursement to employees is a large part of your job; and the larger the company, the larger it will be. 92 Total Points
  • Lesson 8 Video
  • Review Article: Credit Card Reimbursement Policies
  • Take Poll: Online payments
  • Complete Assignment: Reimbursement
  • Complete: Lesson 8 Exam

Using the Internet in Accounts Payable

In this lesson, we are going to look at the Internet. 0 Total Points
  • Lesson 9 Video
  • Take Poll: Online Accounts Payable

Master Vendor Files

Master vendor files are one way to help ensure that vendors get paid and errors are avoided. These files will become valuable resources to your department to monitor for fraud and error and make sure that your vendors are happy. 72 Total Points
  • Lesson 10 Video
  • Review 2 Articles: Master Vendor Files; Vendor Master File Policy
  • Complete Assignment: Master Vendor File
  • Complete Exam: Master Vendor

Problems Caused by Discounts and Other Deductions

Everyone loves discounts. Everyone, it seems, but the accounts payable department! Discounts are great for buyers; but, if there is an overpayment problem, then your department gets involved and the process can be drawn-out and difficult. 62 Total Points
  • Lesson 11 Video
  • Review Article: Payroll Overpayment
  • Take Poll: overpayment
  • Complete Assignment: Overpayments
  • Complete Exam: Deductions and Discounts

Independent Consultants

Independent consultants are a real part of the workforce and growing. Many people are taking their expertise and becoming independent consultants for a very good reason: Consultants are in high demand. 50 Total Points
  • Lesson 12 Video
  • Review 2 Articles: Independent Consultant; Consulting Fees
  • Complete Exam: Consultant

1099 Income Tax Forms

This lesson covers 1099 federal tax forms for contractors. 2 Total Points
  • Lesson 13 Video
  • Review 2 Articles: What is a 1099; 1099 Facts
  • Complete Assignment: 1099 and master vendor list

High-level Accounts Payable Concepts

There are many high-level accounts payable concepts, and they are always changing. As Generally Acceptable Accounting Practices are continually being refined, you will find that your compliance and upgrading requirements will keep you refreshed in some of 102 Total Points
  • Lesson 14 Video
  • Review 2 Articles: Types of Audits; Tips On Streamlining Accounts Payable
  • Take Poll: Final Course Poll - Your Opinion
  • Take Survey: Program Evaluation Follow-up Survey (End of Course)
  • Complete Assignment: Accounting
  • Complete Exam: Accounting
934
Total Course Points

Additional Course Information

Online CEU Certificate
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Document Your CEUs on Your Resume
 
Course Title: Accounts Payable Management
Course Number: 30873
Languages: English - United States, Canada and other English speaking countries
Category:
UniversalClass.com > Accounting and Bookkeeping > Basic Finance Skills
Course Type: Professional Development
CEU Value: 0.7 IACET CEUs (Continuing Education Units)
CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
Assessment Method: Lesson assignments and review exams
Instructor: UniversalClass Staff Instructor
Syllabus: View Syllabus
Course Review: Read Editorial Review
Course Fee: $50.00 (no CEU Certification) || with CEU Certification: $75.00

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Learning Outcomes

By successfully completing this course, students will be able to:
  • Identify and summarize the Accounts Payable Management job.
  • Handle invoices correctly and employ the necessary checks and balances.
  • Process checks correctly while employing the necessary checks and balances.
  • Prevent errors and common mistakes.
  • Provide good customer service, create internal controls, and prepare the department for the annual audit.
  • Detect and prevent fraud from vendors and employees.
  • Use technology in Accounts Payable to make the job more efficient.
  • Identify ways to use the Internet in Accounts Payable.
  • Know the processes involved in Master Vendor Files.
  • Avoid problems caused by discounts and other deductions.
  • Know what to do with independent consultants.
  • Process 1099s, and
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 
 

Student Testimonials

  • "What was most helpful were the assignments. They were very detailed in explainations for each subject." -- Cindy M.
  • "The lessons are organized and in a easy way to read and understand....I love the course and the prompt respond for the instructor." -- Claudia A.
  • "the instructor was very caring and understanding. I like her take again if she teach another class. I'm glad I took this class I didn't know anything about account payable." -- Kimberly L.
  • "This course offered a lot of details and the essay questions were a great reinforcement tool." -- Ann R.
  • "Everything in this class was helpful because it explains how to use everything....I think that it was an awesome course and very helpful and so was the instructor." -- Candice A.
  • "I really liked the procedure of accounts payable from receiving the invoice to cutting the check to filing....Over all after all is said and done I think this is a good course and the instructor is a fine instructor. In the future I might just take another course. I will never get to the point where I think I just too smart or know everything to take a class. I thank you for providing me with this excellent opportunity." -- Larry S.
  • "The different process ideas were very helpful." -- SARAH B.
  • View More Testimonials...

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