Course Outline:

Module 1: Introduction to Accounts Payable

• Overview of the accounts payable function and its role in finance
• Key terms and concepts in accounts payable
• The importance of accounts payable in cash flow management
• Practical Exercise: Mapping the accounts payable process

Module 2: Invoice Processing and Approval

• Receiving and validating invoices
• Invoice coding and data entry best practices
• Establishing approval workflows and procedures
• Case Study: Analyzing an effective invoice processing system

Module 3: Payment Processing

• Understanding different payment methods and their implications
• Establishing payment schedules and managing cash flow
• Automating payment processes and using technology in accounts payable
• Practical Exercise: Setting up payment processes and schedules

Module 4: Vendor Management and Relationships

• Importance of vendor relationships in accounts payable
• Strategies for effective vendor communication and negotiation
• Managing vendor disputes and resolving issues
• Real-life Project: Developing a vendor management plan

Module 5: Compliance, Reporting, and Best Practices

• Understanding regulatory requirements and compliance in accounts payable
• Best practices for reporting and documentation
• Internal controls and risk management in accounts payable
• Practical Exercise: Conducting an accounts payable audit