Organizing and Managing Accounts Payable

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Detailed Overview/Outline

Here’s a sample of the skill-building instruction you’ll gain…

• “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!

What You’ll Learn

• Get an update on government requirements for handling payments
• Discover the latest timesavers for processing payables
• Institute more effective internal controls for reducing duplicate payments, fraud and wasteful spending
• Turn your AP department into a profit center!
• Learn power tips and shortcuts for reducing your massive workload
• Prevent costly errors by spotting weaknesses in your current processes
• Gain recognition and respect for the hard work you do!
• Master the essentials of managing mountains of invoices with ease
• Streamline the entire payment process with simple techniques – and dramatically boost your efficiency
• Learn how to audit-proof your record-keeping system
• Analyze your organization’s internal controls for weaknesses and holes – and eliminate potential for costly errors
• Harness the latest AP technology to do your job more efficiently than ever
• Track invoices and purchase orders with newfound ease and accuracy
• Learn the secret to acquiring approvals, verifications, sign-offs and signatures – easily and with fewer hassles and hold-ups!
• Say goodbye to petty cash headaches by gaining control over this much-abused commodity
• Build safety nets into your processing system that guarantee bills get paid on time
• Get control of your monstrous paper overload and find anything you need in seconds!
• Eliminate the potential for duplicate payments with a fail-safe system
• Avoid the most costly AP mistakes – and save your organization big bucks!
• Deal with difficult vendors and suppliers with tact and finesse – even in the stickiest situations
• Use the Internet to get quick answers to your frustrating AP questions
• Boost your professionalism and credibility by knowing which key skills to develop for ongoing AP career success

Who Should Attend…
Is this workshop for you? Find out!

Answer the following questions Yes or No ...

• Do you have minimal or no backlog of unpaid invoices?
• Do you have a fail-safe system in place for eliminating duplicate payments?
• Do you have written procedures for your department – and do employees really follow them?
• Are you confident that your files and records could withstand the scrutiny of an audit?
• Do you know what it costs your department to pay an invoice?
• Are you up-to-date on the latest government regulations that affect AP, including 1099 compliance?
• Do you know how many invoices you handle each month and the various vendor groups they’re from?
• Do you have set procedures to help identify employee fraud and vendor fraud?
• Do employees turn in forms, authorizations and information to you on a timely basis?
• Do you have adequate time to complete your tasks and responsibilities in an average work week?
• Do you get the respect and recognition you deserve for your important work as an AP professional?

Can you answer “yes” to every question? If not, this information-packed workshop will benefit you in major ways!

Workshop Agenda
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 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
• Skills 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?
• Skills Practice: Understanding the pros and cons of often-debated common AP policies

Honing Your People Skills to Get What You Need – Without Getting a Headache!

• 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

Sponsor Background:
National Seminars Group, a division of Rockhurst University Continuing Education Center, Inc., is one of the nation's leading providers of continuing education. Each year, we provide more than 6,000 seminars in the United States and Canada, and in our 14-year history, more that 5 million professionals have participated in these programs.

Besides offering a full range of training skills to all professional levels through our one-day and two-day seminars and conferences, we also offer highly-acclaimed books, audiocassette, videocassette and CD-ROM training products for individuals, teams, departments or corporate reference libraries.

Since 1991, our affiliation with Rockhurst University, a highly acclaimed four-year university, ensures our commitment to providing lifelong continuous-learning opportunities. We're certain the combination of continuing education with academic excellence gives you the best and most innovative approach to fulfill your continuing education needs.

Cancellation Policy:

If you cannot attend a workshop for which you are registered, you may send a substitute or receive a credit memo toward a future workshop. If you cancel your registration up to five business days before the workshop, your registration fee will be refunded less a $10 enrollment charge.

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