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Accounts Payable

presented by Academy of Business Training

Improve your accounts payable skills now

Full Description

  • Learn industry recommended accounts payable procedures and best practices.
  • Learn from a professional with 30+ years business experience.

Accounts payable professionals are responsible for collecting, filing, and processing invoices and making payments to vendors, customers, and other third-party companies. Managers must make sure their department's payment accounts are reconciled and bookkeeping entries are complete and accurate. Other accounts payable duties include preparing tax forms, assisting the company with the year-end closing, and coding accounting documents. Students will also study the accounting equation.

This two day accounts payable training class will reveal today's best practices for invoice handling, checks, 1099s, e-invoicing, audits, and all the tasks of today's multi-tasking AP specialists and managers.

Each Student Receives:

  • A student manual or textbook for use during and after the class.
  • Instruction from an experienced business professional (minimum of 30 years) with at least five years in a corporate senior management position (CEO, President, COO, Vice President, CFO).
  • Real life exercises to support training materials.
  • Individual attention (classes are limited to four students).
  • Personalized Certificate of Completion

Class Outline


Module 1: Master Vendor File
    Who Has Access
    Master Vendor File Set-Up
    Using Naming Conventions
    Making Changes to the Master Vendor
    Master Vendor File Cleanup
    Self-Service Master Vendor Files

Module 2: Invoice Processing
    Receipt of Invoices
    Invoice Handling: Approvals 
    Invoice Data Requirements 
    Verifying Invoice Data
    Invoice-Coding Standards

Module 3: Checks
    Approach to Paying by Check
    Check Printing
    Check Signing
    Check Stock Storage
    Distribution of Checks
    Check Fraud
    Use of Payee Name Positive Pay

Module 4: ACH (Electronic Payments)
    Approach to Paying Electronically 
    Converting Vendors to ACH Payments
    Handling Change of Bank Account
    Convincing Vendors to Convert
    Handling Remittance Information

Module 5: Payment Strategy
    Establishing an Overall Payment
    Paying Small-Dollar Invoices
    A Rush or Emergency Payment Policy
    Payments Made Outside Accounts
    Basic Fraud Protection against ACH

Module 6: Policy and Procedures

    Use of the Manual
    Creating an Accounts Payable Policy
           and Procedures Manual
    Updating an Accounts Payable Policy
          and Procedures Manual
    Access to the Accounts Payable Policy
          and Procedures Manual

Module 7: Operational Aspects
    Paying When the Original Invoice Is
    Limiting Calls to Accounts Payable
    Petty Cash
    Reviewing Supplier Statements
    Adopting a Policy of Never Returning
         Checks to Requisitioners

Module 8: Duplicate Payment Issues
    Using Processing Standards
    Duplicate Payment Avoidance
    Mandating a Rigid Work Process    
    Some Quick Checks
    Backup for Rush Checks

Module 9: Fraud Prevention: Checks
    Use of Positive Pay
    Pre-printed Check Stock Controls
    Check Stock Storage
    Other Check Fraud Prevention

Module 10: Regulatory Issues:

     Information Reporting
    A Form W-9 Requirement Policy
    Collecting and Tracking W-9 and W-8
    Using IRS TIN Matching Properly

Module 11: Communications/

     Vendor Relations
    Communicating Relevant Information
          to Vendors
    Communicating with Internal
    Working with Purchasing
    Customer Service in Accounts Payable

Module 12: Cash Management
    Taking Early Payment Discounts
    Payment Timing
    Payment Status Information for

Module 13: Managing the AP Function
    Best Practice Policy
    Policy and Procedures Manual
    Staff Training
    Soliciting Process Improvement
    Payment Audits
Module 14: Invoice Problems
    Short-Paying Invoices
    Handling Unidentified Invoices
    Handling Invoices without Invoice
    Discrepant Invoices 

Module 15: P-cards
    Designing a Best Practice P-Card
    Setting Strong Internal Controls
          in Your P-card Program
    Increasing Usage of the P-card in
          Your Organization
    Setting Attractive Payment Terms 

Module 16: Operational Aspects
    Paying When the Original Invoice Is
    Limiting Calls to Accounts Payable
    Petty Cash
    Reviewing Supplier Statements
    Adopting a Policy of Never
         Returning Checks to Requisitioners

Module 17: Internal Controls
    Appropriate Segregation of Duties
    Appropriate System Access
    Policy when Employees Leave
    Eliminating Weak Control Practices
    Staff Training

Module 18: Fraud Prevention: General     Separate Computer for Online Banking
    Wire Transfer Information Requests
    Information on Internet for Vendors
    Mandatory Vacation Policy
    Job Rotation Policy
    Handling of Change of Bank
    Account Requests

Module 19: Travel and Entertainment

    Formal Policy
    Expense Report Form 
    Verifying Data
    Handling Receipts
    Detailed Meal Receipts

Module 20: Travel and Entertainment

    Cash Advances
    Unused Tickets
    Departing Employees
    Making Travel Reservations
    Reimbursing Employees

Module 21: Regulatory Issues:

     Unclaimed Property
    Reporting and Remitting
         Unclaimed Property
    Performing Due Diligence for
         Unclaimed Property
    Using Social Media to Track Owners
         of Unclaimed Property

Module 22: Regulatory Issues: Other

    Proper Handling of Sales and Use Tax 
    Regular OFAC Checking
    Foreign Corrupt Practices Act (FCPA)

Module 23: Technology
        An Accounts Payable Technology
        Handling E-mailed Invoices
        Invoice Automation
        Use of Mobil Devices in Accounts

Who Should Attend

Accounts Payable Personnel

Additional Information

Training Provider: Academy of Business Training

Course Topics: Accounting Training > Accounts Payable

Training Course Summary: Improve your accounts payable skills now

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