Corporate Training By Zack Academy - Organizing and Managing Accounts Payable

Organizing and Managing Accounts Payable is an intensive one-day workshop that will teach you how to learn cutting-edge information as well as network with other A/P professionals. We've condensed tons of information to get to the essentials — the very latest proven AP techniques; accepted best practices guaranteed to improve your accuracy and save money; and techniques, tips and shortcuts that will help you get more done in less time.

Topics To Be Covered:

• "How-to's" for organizing, streamlining and managing your enormous workload
• 6 crucial questions you should ask about every invoice
• Secrets to setting up files that will hold up under scrutiny of an audit
• Update on current government regulations and requirements
• A fail-safe system that eliminates duplicate payments
• Tips for getting approvals and authorizations — without getting headaches!

Syllabus

Success Elements of Highly Successful AP Pros:

• Understanding your important role in your organization"s "big picture"
• How many "hats" do you wear? Why your job is much more than "paying the bills"
• Qualities that the best AP pros share
• A review of critical processes, systems and procedures
• SKILL PRACTICE: Testing your accounting knowledge

Super Shortcuts and Timesavers for Managing Your Workload — Without Sacrificing Accuracy:

• Slick techniques for managing mountains of invoices
• 6 questions every AP pro must ask about each invoice
• Proven "how-to"s" for streamlining your payment process
• Tracking tips that ensure you"ve received what you"re paying for
• Maintaining current and accurate payment records without jumping through unnecessary hoops
• SKILL PRACTICE: Identifying your department"s biggest time-wasters — and how to eliminate them

Setting Up Internal Controls That Will Make Your Job Easier — Immediately!

• Your organization"s controls: How do they stack up?
• Setting up vendor number controls and receiver controls
• How to implement an easy, fail-safe system for eliminating duplicate payments
• Charging the expense to the right account — your role in ensuring accurate business records
• Surefire ways to spot — and stop — expense account padding
• SKILL PRACTICE: 4 actions to take to improve expense reporting in your organization

Major Money-Savers to Tap for Your Organization:

• Early payment discounts: When are they a good deal, and when should you pass?
• Why you should keep manual checks to an absolute minimum
• "How-to"s" for negotiating your way out of paying late fees
• The most common costly AP errors and how to avoid them
• Recovery of VAT and GST: Does your organization qualify for this money-saver?
• SKILL PRACTICE: Understanding the pros and cons of often-debated common AP policies

Honing Your People Skills to Get What You Need:

• 7 hassle-free steps to getting approvals, documentation and complete information — the first time!
• Understanding the most important rule in the vendor/supplier relationships
• Tips for negotiating excellent payment terms
• SKILL PRACTICE: Brainstorming solutions for minimizing petty cash — and petty cash hassles

How to Set Up Audit-Proof Files and Records:

• Secrets to setting up files that will hold up under the toughest scrutiny
• Making your files accessible without allowing others to mess them up
• What you need to know about year-end reporting, including 1099s
• UPDATE: Latest government requirements and regulations regarding how you should handle certain payments

SPECIAL SECTION - AP Technology and Trends:

• Advantages and disadvantages of purchasing cards
• Latest advances in electronic document scanning
• How computer-based receiving impacts AP
• Making the most of what the Internet has to offer AP professionals
• What to look for in AP software that will work for you, not against you
• DISCUSSION: Emerging AP trends — and how to position yourself for future success!

Special Section - What You Need to Know About the Latest AP Technology:
You"ll get up-to-the-minute information on ...

• Purchasing cards
• Computer-based receiving
• Document scanning
• 3-way match
• AP software
• E-commerce
• Online resources
• Emerging AP trends