Accounts Payable Management

The Key to Managing a Successful Accounts Payable Department

In today's fast-paced business world, few areas are as important to a company as having a successful Accounts Payable Manager.  More and more companies are understanding the importance of having a manager in Accounts Payable who go above and beyond what is normally called for.  For too long, businesses thought that having someone in Accounts Payable who was persistent and would keep at an account until it was caught up was what it took but that model is evolving.  As businesses are changing, the way that things have been done in the past is changing, as well.

Designed for the new manager of an Accounts Payable department, this course will help the student step into their new role and take a commanding and successful lead.  However, this course will also prove useful for anyone who is already in Accounts Payable and is seeking to expand their knowledge.  In other words, this course will take what you know and it will enhance it by adding proven management principles to your practices. 

In the marketplace today, Accounts Payable is more than just processing checks, mailing them and filing away mountains of back-up paperwork.  A good Accounts Payable manager understand all parts of the department everything from customer service and vendor management to check requests and purchase orders.

Finally, this course will show you how to handle invoices, how to process checks, dealing with audits and ensuring that your department operates as error-free as possible.  You'll be getting expert advice from a well-seasoned disbursement manager with extensive Accounts Payable experience. 

You'll learn what it is that a manager does and how to best operate an Accounts Payable department and you'll find ways to help motivate the people you manage into being the best possible performers.

This course will also discuss the following areas:

-     What is a manager:  You'll learn what a manager is, what a manager does, and the importance of always being on top of what is happening within your department.  You will also learn the key to managing your Accounts Payable department and how to best become a valuable asset to your company.

-      Invoice handling:  The student will understand the process of tracking invoices from the moment they arrive in the department until the final check is cut.  Students will also be walked through a step-by-step process to bring order to what might be a chaotic system.

-      Checks:  The lesson will address to core of the Accounts Payable department and will help the student to understand areas that might need to be examined and worked on.

-      Preventing errors:  Students will discover that duplication and missing invoices are among the most common problems in the Accounts Payable department and will be given real-world solutions that they can apply in reducing errors.

-      Customer service, internal controls and the annual audit:  Students will understand how the aspects of customer service apply to their department and will examine the concepts of internal controls and the annual audit.

-      Fraud:  Vendor, Employee, and Check:  This section of the course will instruct the student on the importance of overseeing things to ensure there is no fraud taking place, either due to a vendor or employee check mismanagement.

-      How companies are using technology in Accounts Payable:  The student will learn more information about using the information in the Accounts Payable department, as well as address software solutions that can make their department run more smoothly.

-      The importance of Master Vendor Files:  Students will see how Master Vendor Files are an important way to help ensure that vendors are paid in a timely manner and errors are avoided.  In addition, the files are invaluable tools to monitor fraud and error.

By the end of this course, the student will have a thorough knowledge of what it takes to manage a successful Accounts Payable department and how to implement changes needed in order to make it operate more efficiently.