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Excellence in Managing Accounts Payable Course
NGN 325,000
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Venue: Lap New World Hotel Jabi Abuja
Other Dates
Venue | Date | Fee | |
---|---|---|---|
Lap New World Hotel Jabi Abuja, Abuja FCT, Nigeria | 07 - 10 Jul, 2025 | NGN325000 | |
Lap New World Hotel Jabi Abuja, Abuja FCT, Nigeria | 20 - 23 Oct, 2025 | NGN325000 | |
Lap New World Hotel Jabi Abuja, Abuja FCT, Nigeria | 02 - 05 Dec, 2025 | NGN325000 |
Accounts payable is not just processing checks, mailing them, and then filing the backup paperwork. To manage accounts payable truly and effectively, one must understand the AP department's building blocks including, but not limited to customer service, vendor management, check requests and Purchase Orders (POs).
This course will discuss how to handle invoices, process checks, prevent errors, conduct annual audits, and use technology in the department. You will also learn the best practices to adopt in your AP department and how to develop your department into an effective business partner.
Course Methodology
This course demonstrates theoretical and practical core topics in addition to introducing Excel in managing accounts payable. The course also features role playing and presentations by participants.
Course Objectives
By the end of the course, participants will be able to:
- Identify the function of Accounts Payable (AP) and its role in organizations
- Use accounting principles related to accounts payable
- Describe how to take a successful lead in the management of accounts payable
- Assess AP operations and processes and recommend improvements using the latest best practices
- Evaluate main issues affecting AP staff to increase their efficiency and productivity
- Apply tools and techniques in Microsoft Excel to effectively manage and monitor AP performance
Target Audience
Managers of accounts payable, AP staff and professionals as well as clerks and specialists who wish to advance their career. The course is also beneficial to professionals in accounting, finance, purchasing and procurement who work closely with Accounts Payable.
Target Competencies
- Examine the role of accounts payable
- Perform month-end accruals
- Realize the value added of three-way matching
- Prepare and analyse accounts payable aging
- Prevent accounts payable fraud
- Apply accounts payable best practices
- Implement early payment discount
- Utilize Excel functions
Course Outline
Day 1
- The important role of Accounts Payable (AP)
- The meaning of managing accounts payable
- The big picture: accounts payable and the financial health of organizations
- The functions of the accounts payable department and the role of AP staff
- Accounts payable impact on working capital and cash management
- Accounting essentials for accounts payable
- Accounts payable terminologies
- General ledger and sub-ledger
- Preparing for month-end close and accruals
- Accounts payable processes and best practices
- Invoice handling and routing
- The three-way matching
- Methods of payment processing
- Maintaining the vendor master file
- Travel and Entertainment (T and E)
- Procurement Cards (P-Cards)
Day 2
- Key topics in accounts payable management
- Continuous process improvement
- Developing performance metrics
- Applying best practices in your organization
- Identifying proper internal controls
- The annual audit as an added value
- Detecting fraud in accounts payable
- The behavioural side of managing accounts payable department
- Improving the image of the AP department
- Ways to motivate AP staff
- Organizing the AP department
- Closing the communication gap
- Dealing with internal and external disputes
- Importance of internal customer service
- Providing customer service to vendors
Day 3
- Accounts payable department as a real business partner
- When should we pay our suppliers?
- Understanding cost of funds
- Evaluating early payment discount
- Pros and cons of early or late payments
- Relationship with the treasury department
- Using Microsoft Excel in managing accounts payable
- Interface between the accounts payable system and Excel
- Using pivot-tables to extract valuable information
- Preparing and analysing accounts payable aging
- Accounts payable role in improving suppliers’ commercial terms
Note: Also Available in Virtual Training
Lap New World Hotel Jabi Abuja | Mar 03 - 06 Mar, 2025 |
Lap New World Hotel Jabi Abuja, Abuja FCT, Nigeria | 07 - 10 Jul, 2025 |
Lap New World Hotel Jabi Abuja, Abuja FCT, Nigeria | 20 - 23 Oct, 2025 |
Lap New World Hotel Jabi Abuja, Abuja FCT, Nigeria | 02 - 05 Dec, 2025 |
NGN 325,000.00 | |
Dr. Francis Okereke +2348035062583
Tags: |
Managing Accounts Payable Accounts Payable Accounting Jabi Abuja FCT Nigeria Oct 2024 Dec 2024 Mar 2025 July 2025 Oct 2025 Dec 2025 |
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