Course Overview

What is the role of Accounts Payable? The role of Accounts Payable comprises of providing and specifying financial, administrative and clerical support to the organisation.

Their role is to complete payments and control expenses by receiving payments, then processing, verifying and reconciling invoices.

Accounts Payable is the business process that is responsible for preparing an organisation financial reports, it is imperative that all individuals working within your accounts payable departments are trained.

When you get the right training for your Accounts Payable, the output will be a well organised and coordinated Accounts Payable department that matches up with the overall objectives of the company.

What is Accounts Payable (AP) Process? The full cycle of the accounts payable process involves invoice data capture, coding invoices with accurate account and cost centre, approving invoices, matching invoices to purchase orders, and posting for payments.

This Zoe Course will provide individuals with a comprehensive overview of Accounts Payable and how it can be managed effectively within an organisation.

Course Objectives

On successful completion of the Accounts Payable Certification Course, participants shall be able to:

• Execute internal checks and controls, error and fraud prevention and detection
• Set up new supplier accounts
• Monitor cost
• Perform supplier statement reconciliations
• Review the Aged Creditors Listing

Training Methodology

This collaborative Accounts Payable Certification Course will comprise the following training methods:

• Lectures
• Seminars & Presentations
• Group Discussions
• Assignments
• Case Studies & Functional Exercises

Zoe Talent Solutions follows the ‘Do-Review-Learn-Apply’ model.

Organizational Benefits

On successful completion of the Accounts Payable Certification Course, participants shall be able to benefit their organization in the following ways:

• Managing Budgets and maximising supplier discounts
• Cash Forecasting
• Month-end and year-end procedures for the purpose of management accounts
• Effective filing

Personal Benefits

Successful completion of Accounts Payable Certification Course, shall benefit participants in the following ways:

• Understand the importance of your role
• Know the role of auditors and what you can do to prepare for their visit
• Successfully manage customers and the stakeholders’ expectations
• Understand invoice processing and use best practices
• Embrace the practices and benefits of today’s technology in finance
• Recognise and implement internal controls, risk management and compliance

Who Should Attend?

• Accounts Payable Clerk / Team Leader / Manager
• Accounts Analyst
• Finance Assistant
• Finance Operations Manager
• Financial Controller

Course Outline

Module 1: Introduction to Accounts Payable

• What is Accounts Payable?
• Examples of Accounts Payable
• Current/ Long-Term liabilities
• Provisions
• Working Capital Management
• Role of Accounts Payable Staff

Module 2: Accounts Payable – Trade Creditors

• Assessment of Suppliers
• Credit Requirement
• Credit Limits
• Cross-Supply Arrangements
• Payment Terms
• Warranty Arrangements
• Return of Goods

Module 3: Purchase System

• Purchase Order
• Purchase Requisition
• Pre- GRN Inspection
• Goods Received Note (GRN)
• Invoice
• Post- Purchase Rejections

Module 4: Recording

• Invoice Processing
• Three-Way Match
• Update Inventory
• A.T. Accounting
• Posting to Sub-Ledger

Module 5: Payments

• Modes of Payments
• Frequency of Payments
• Utilization of Credit Limits
• Month-End Closing

Module 6: Other Liabilities

• A.T.
• Corporate Tax Liability
• Employees End of Service Benefits
• Proposed Dividends
• Others

Module 7: Internal Controls

• Monthly Reconciliation of Sub Ledger
• Regular Confirmation of Balances
• Regular Review of Creditors Reports
• Age Analysis of Creditors
• Review of Utilization of Credit Limits
• Write back of Provisions

Module 8: Case Study

Complete Cycle of Accounts Payable