Accounts Payable Training Course
In the Accounts Payable Training Course, you will learn industry best practices for collecting and processing invoices and making payments to vendors, customers, and other third-party companies.
In Module One you will be introduced to the management of Accounts Payable (AP). We start by taking a look at the role Accounts Payable plays in a company’s overall financial strategy. We then review the different payment systems available to Accounts Payable, and discuss the role of best practices. The Policies and Procedures Manual (PPM), the core AP document, and the controls that need to be in place to protect this valuable asset of the company are examined in depth.
In Module Two you will learn about the Master Vendor File, a critical part of the internal controls needed to prevent payment fraud.
In Module Three you will learn about AP processes to include payroll, invoices, and bank reconciliation.
In Module Four we discuss payments, including payment strategy, vendors, independent contractors, utilities, scholarships and fellowships, IRS Forms 1099 and 1096, IRS Notice CP–2100A/B, backup withholding, duplicate payments, and payment portals.
In Module Five you will learn about payment methods for cash, checks, remotely created checks, direct debits, EFT’s/ACH, wires, payment cards (P–Cards), and the Electronic Federal Taxes Payment System (EFTPS).
In Module Six the topic is fraud prevention to include payment fraud and Business Email Compromise (BEC).
In Module Seven you will learn about non-resident alien tax compliance.
In Module Eight you will learn best practices for travel and entertainment expenses.
In Module Nine we discuss regulatory compliance to include W-9s and W-8s, escheat (unclaimed property), sales and use tax, Office of Foreign Asset Control (OFAC), and the Foreign Corrupt Practices Act (FCPA).
To complete the class you will learn about customer service in Module Eleven for both internal customers and vendors.
One of the goals of this class is to make your accounts payable department a totally paperless operation.