Objectives of this Workshop.

• This workshop has been developed purposely to help your staff participants to:
• Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain
• Appreciate the processes and procedures involved in the evaluation of suppliers
• Understand and apply the fundamentals of accounts payable systems
• Review and comment on payment methods and cash management
• Analyse the need to incorporate risk and uncertainty into accounts payable analysis
• Understand the mindset of customers and how best to collect overdue debts
• Identify a practical approach for balancing credit risk and customer relationships
• Understand the do’s and dont’s of credit collection
• Use the appropriate tools and techniques to evaluate suppliers and their financial and operational reliability
• Understand the integrated systems of purchase order processing, stock (inventory) control, purchase ledger, and cash payments, and their links with the general ledger
• Effectively manage cash and working capital to reduce costs and improve cash flow
• Consider the impact of risk and uncertainty on the business and its impact on accounts payable and cash flow

Benefits of this Workshop.

• At the end of this workshop, your still participants will:
• Work effectively with the fundamentals of accounts payable, financial accounting, and the supply chain
• Appreciate the processes and procedures involved in the evaluation of suppliers
• Understand and apply the fundamentals of accounts payable systems
• Review and comment on payment methods and cash management
• Analyze the need to incorporate risk and uncertainty into accounts payable analysis
• How to swiftly spot discrepancies (before auditors do!), through an ingenious system of checks and balances
• Discuss how to identify the most common AP problems and abolish them from your system
• How to build a system that coordinates control numbers through the entire payment process
• How to save your organization big bucks by preventing errors, catching mistakes, reducing duplicate payments, and curbing wasteful spending
• Identify and summarize the Accounts Payable Management roles and responsibilities.
• 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.
• Detect and prevent fraud from vendors and employees.
• Avoid problems caused by discounts and other deductions.

Salient Features

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