Accounts Payable Management Training [P2P] – 16 Hours

Accounts Payable Management Training [P2P] - 16 Hours

Managing the Accounts payable is a crucial segment of the F& A operations of the business. Accounts payable is the process performed by the business for purchase/acquiring materials or services, recording the Invoices, processing payments to the vendor and closing the Invoices. Accounts payable record all types of capex, OPEX expenditure involved in the business where former accounts for Balance Sheet, later pertains to P&L accounts related.

This P2P course involve the process flow chart, Steps starting from selecting vendor through booking Invoice, accounting journals for accruals, reconciliation of vendor accounts, purchase/ material account, interpreting the impact of Income statement and Balance Sheet.

Program Objective

To learn the functional concepts, accounting rules/principle applicable in recording accounts payable Invoices, booking AP accruals, releasing the payments and performing the vendor/ AP Accrual account reconciliation in details, also understanding the impact on P&L, Balance Sheet and Cash Flow operations of the business.

At the end of this training course, you will learn:

Identify the function of accounts payable 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
Apply tools and techniques in Microsoft Excel to effectively manage and monitor accounts payable performance

Program Contents

What is Accounts Payable Management
Managing the P2P cycle more effectively by the business
Placing the order with various vendors
Choosing the best vendor among the quotations received
Receiving the Invoices, GRN, Receiving Materials
Performing 3 Way Match, PO, Invoice and GRN
Recording the Invoices and accruals for expenses
Running weekly pay-cycle to the vendors
Closing the Invoices, performing Reconciliation
Impact to the P&L, BS and working capital management of the business

Organizational Impact

The organization will gain through the development and application of capabilities and skills in key area of Accounts Payable management; specific benefits will include:
Improved awareness of key business performance measures
Greater insights from Genius Dimensions best practice
Better integration of wider financial process, for example purchase order management and supplier payments
Raised levels of professionalism in the Accounts Payable team
Improved human talent pool for internal succession planning

What Is the Out Come of the Program?

You will become a Subject Matter expert in P2P cycle right from procurement of materials and services until payment of the vendor invoices, and steps to achieve a better working capital management, operating cash flow of the business.

The best practices sharing by Genius Team make you more dynamic and redefine your skills in this segment so that to diversify your profile.

GD enlightens you become a dynamic professional conceptually and technically in implementing your functional skills at your work, and driving the process/project more effectively in compliance to the business requirements. In addition, a certificate is awarded after completion of the program.

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