with CEU Certificate*
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.
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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.
Handling InvoicesThis 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.
ChecksThis lesson is about the core of your department's purpose: work flow-processing.
Preventing ErrorsDuplication and missing invoices are common problems in accounting departments. In this lesson, you will learn some of the ways you can reduce errors.
Customer Service, Internal Controls and the Annual AuditInternal 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.
Fraud: Vendor, Employee and CheckThis lesson will cover the aspect of fraud in relation to vendors, employees, and checks.
How Companies Use Technology in Accounts PayableThe 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.
Traditional Functions and the 21st CenturyReimbursement to employees is a large part of your job; and the larger the company, the larger it will be.
Using the Internet in Accounts PayableIn this lesson, we are going to look at the Internet.
Master Vendor FilesMaster 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.
Problems Caused by Discounts and Other DeductionsEveryone 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.
Independent ConsultantsIndependent 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.
1099 Income Tax FormsThis lesson covers 1099 federal tax forms for contractors.
High-level Accounts Payable ConceptsThere 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
- Document Your Lifelong Learning Achievements
- Earn an Official Certificate Documenting Course Hours and CEUs
- Verify Your Certificate with a Unique Serial Number Online
- View and Share Your Certificate Online or Download/Print as PDF
- Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
Learning OutcomesBy 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.
- Summarize 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.
|Steps for an Invoice||Assignment||50|
|Steps for Check Processing||Assignment||10|
|Lesson 8 Exam||Exam||90|
|Online Accounts Payable Systems||Assignment||50|
|Master Vendor File||Assignment||50|
|Deductions and Discounts||Exam||60|
|1099 and master vendor list||Assignment||50|
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