Accounts Payable Training Course
IMPROVE YOUR ACCOUNTS PAYABLE SKILLS NOW
- Accounts Payable Training students will learn industry best practices for collecting and processing invoices and making payments to vendors, customers, and other third-party companies.
- Four ways to learn: public class, webinar, self-study, or on-site training.
- Learn from a professional with 30+ years of business experience.
- Public class and webinar limited to four students for maximum learning.
- Certificate issued upon completion.
- Cost: Two Day Class $1399.00. Available Discounts.
- Public Class and Webinar Schedule located in right column.
ACCOUNTS PAYABLE TRAINING COURSE DESCRIPTION
In addition to best practices, you will learn how to make sure your department’s payment accounts are reconciled, and bookkeeping entries are complete and accurate. One of the goals of this class is to make your accounts payable department a totally paperless operation, and to learn techniques to prevent payment fraud and business email compromise (BEC) (see article below).
The course presents best practices for the following critical AP functions:
- the master vendor file,
- invoice processing,
- ACH payments,
- the policies and procedures manual,
- cash management,
- travel and entertainment policies, and
- processing 1099s.
In addition, the course provides industry recommended policies for: internal controls, payment strategies, and dealing with regulations.
Each Student Receives:
- A student manual or textbook for use during and after the class.
- Instruction from an experienced business professional (minimum of 30 years) with at least five years in a corporate senior management position (CEO, President, COO, Vice President, CFO).
- Real life exercises to support training materials.
- Individual attention (classes are limited to four students).
- Personalized Certificate of Completion.
Business Email Compromise
Social media platforms may have taken over as the most prevalent mode of communication, but email continues to be the preferred tool for business communication. Research conducted by The Radicati Group, a technology market research firm, predicts this love affair with email will result in explosive growth reaching 319.6 billion emails received and sent each day by 2021. It’s no wonder the piercing eyes of the cybercriminal have fixated on ways to compromise one of the essential business communication tools.
What is Business Email Compromise (BEC)?
Spearphishing on steroids is how law enforcement officials like to think of BEC. Sometimes called man-in-the-middle attack or whaling its purpose is to deceive an organization’s personnel, primarily accounts payable, into handing over vast sums of money.
Between October 2013 and December 2016, the FBI discovered there was over $5.3 billion lost to BEC scams globally.
How Does Business Email Compromise Work?
BEC is a multi-component stealth exercise; just like most successful cyber attacks, and takes advantage of a blend of technology and the human factor. BEC can be broken down into four distinct phases:
BEC fraud starts with surveillance of a targeted company. BEC only works if the cybercriminal understands how the target thinks so this intelligence is required to jump the trust-barrier hurdle. Gathering intelligence usually includes spearphishing to acquire access to a system to harvest credentials or install malware. The information is then used to extract information and to obtain unauthorized access to executive schedules and calendars which enables the cybercriminal to construct a profile of the victim, frequently a high-level executive in the organization.
Cybercriminals do their homework to acquire a variety of information. When targeting a victim, they will research:
- general information regarding the organization (for instance, where it does business and with whom).
- management organizational structure to include titles and names of company officers.
- information about new rounds of funding.
- data about new services, products, and patents.
- geographic or product expansion plans.
- executive travel plans.
The information acquired when profiling the organization offers the cybercriminal an understanding of the hierarchy of the organization.
Overwhelmed and don’t know where to start?
If you are experiencing problems with any of the following, we can help:
- unprecedented growth
- supply chain issues
- cash management issues
- introduction of new technologies
- development of a company mission statement or S&OP
- poor customer service
- poor internal training development
- declining or stagnant sales
- high employee turn-over
- no accountability for managers
Our account managers can work with you to improve the performance of your workforce in two ways:
- Our account managers can help you put together a comprehensive employee training program proven to be one of the best returns on investment there is.
- A business consultant to provide expert advice in a particular area such as management and leadership, accountancy, human resources, customer service, finance, or supply chain management.
ACCOUNTS PAYABLE TRAINING COURSE CPE CREDITS DISCLOSURE
Recommended CPE credit: 16
Recommended field of study: Accounting
Program level: Intermediate.
Advance preparation: None
Additional disclosure information
ACCOUNTS PAYABLE TRAINING COURSE OUTLINE
Module 1: Managing the AP Function
Best Practice Policy
Policy and Procedures Manual
Soliciting Process Improvement Recommendations
Module 2: Master Vendor File
Who Has Access
Master Vendor File Set-Up
Using Naming Conventions
Making Changes to the Master Vendor File
Master Vendor File Cleanup
Self-Service Master Vendor Files
Module 3: Invoice Processing
Receipt of Invoices
Invoice Handling: Approvals
Invoice Data Requirements
Verifying Invoice Data
Module 4: Invoice Problems
Handling Unidentified Invoices
Handling Invoices without Invoice Number
Module 5: Checks
Approach to Paying by Check
Check Stock Storage
Distribution of Checks
Use of Payee Name Positive Pay
Module 6: ACH (Electronic Payments)
Approach to Paying Electronically
Converting Vendors to ACH Payments
Handling Change of Bank Account Requests
Convincing Vendors to Convert
Handling Remittance Information
Module 7: P-cards
Designing a Best Practice P-Card Program
Setting Strong Internal Controls in Your P-card
Increasing Usage of the P-card in
Setting Attractive Payment Terms
Module 8: Payment Strategy
Establishing an Overall Payment Strategy
Paying Small-Dollar Invoices
A Rush or Emergency Payment Policy
Payments Made Outside Accounts Payable
Basic Fraud Protection against ACH Fraud
Module 9: Policy and Procedures Manual
Use of the Manual
Creating an Accounts Payable Policy and
Updating an Accounts Payable Policy and
Access to the Accounts Payable Policy and
Module 10: Operational Aspects
Paying When the Original Invoice Is Missing
Limiting Calls to Accounts Payable
Reviewing Supplier Statements
Adopting a Policy of Never Returning Checks to
Module 11: Duplicate Payment Issues
Using Processing Standards
Duplicate Payment Avoidance
Mandating a Rigid Work Process
Some Quick Checks
Backup for Rush Checks
Module 12: Internal Controls
Appropriate Segregation of Duties
Appropriate System Access
Policy when Employees Leave
Eliminating Weak Control Practices
Module 13: Fraud Prevention: General
Separate Computer for Online Banking
Wire Transfer Information Requests
Information on Internet for Vendors
Mandatory Vacation Policy
Job Rotation Policy
Handling of Change of Bank
Module 14: Fraud Prevention: Checks
Use of Positive Pay
Pre-printed Check Stock Controls
Check Stock Storage
Other Check Fraud Prevention Practices
Module 15: Travel and Entertainment Policy
Expense Report Form
Detailed Meal Receipts
Module 16: Travel and Entertainment Issues
Making Travel Reservations
Module 17: Regulatory Issues: Information Reporting
A Form W-9 Requirement Policy
Collecting and Tracking W-9 and W-8 Policy
Using IRS TIN Matching Properly
Module 18: Regulatory Issues: Unclaimed Property
Reporting and Remitting Unclaimed Property
Performing Due Diligence for Unclaimed Property
Using Social Media to Track Owners of Unclaimed
Module 19: Regulatory Issues: Other
Proper Handling of Sales and Use Tax
Regular OFAC Checking
Foreign Corrupt Practices Act (FCPA) Monitoring
Module 20: Technology
An Accounts Payable Technology Plan
Handling E-mailed Invoices
Use of Mobil Devices in Accounts Payable
Module 21: Communications/Vendor Relations
Communicating Relevant Information to Vendors
Communicating with Internal Customers
Working with Purchasing
Customer Service in Accounts Payable
Module 22: Cash Management
Taking Early Payment Discounts
Payment Status Information for Vendors
WHAT ACCOUNTS PAYABLE TRAINING COURSE STUDENTS ARE SAYING...
On the exercises, more true/false and multiple choice would be preferred.
Asking what the “student” would like to obtain/learn prior to the course helps the instructor to know what to cover, so the instructor did a great job with that!
Company: Nascentia Health
Good knowledge and good material to take home.
Company: Community Action Partnership, Lancaster and Saunders Counties
Very helpful and informative.
Company: College of Registered Nurses of Manitoba
ACCOUNTS PAYABLE TRAINING COURSE PUBLIC CLASS AND WEBINAR SCHEDULE
Scheduled dates don’t work for you? Schedule your own start date (subject to availability). Contact customer service to check date availability at firstname.lastname@example.org.
Registering another Person
If you want to register for another person, click on the registration link and enter your information in the Billing Information section, uncheck the Student Information same as Billing Information box at the bottom of the form, then enter your student information. If you experience any difficulty with online checkout, please call customer service 24/7 at 888-632-2093.
Registering by Purchase Order
If you need to register using a purchase order, email a copy to email@example.com (be sure to list class name, class date, student name, student address, student phone number, and student email address).
To Register by Phone
To pay by credit or debit card using customer service 24/7 call 888-632-2093 .