Are you grappling with the challenge of managing a deluge of supplier invoices and employee check requests? The intricacies of balancing rapid payment demands with the critical need for thorough investigation can be daunting. "Payables Management" is here to transform this challenge into an opportunity. This course delves into crafting an efficient payables system that not only minimizes costs but also tightens control over payments. It explores the pain points of managing use taxes, closing books, and payables controls, offering practical solutions. Moreover, it addresses complex issues like unclaimed property and cost recovery efforts, providing clarity and actionable strategies. Designed for finance professionals, this course is an essential tool for developing robust payables systems and mastering varied transactions. Its comprehensive coverage makes it an indispensable reference for your professional growth.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Recognize the types of transaction cycles as well as the effects of the different organizational structures.
Chapter 2
Specify the effects of the matching concept and the use of adjustment documents in invoice processing.
Chapter 3
Identify the types of payments, their advantages, and when they are used.
Chapter 4
Specify the exclusions from expense reports.
Chapter 5
Recognize the steps used in the reconciliation of a procurement card statement.
Chapter 6
Identify the parties involved in remitting sales and use taxes.
Chapter 7
Identify the concepts under which supply chain financing is offered to suppliers.
Chapter 8
Specify how accounting software applies information when an invoice is recorded.
Chapter 9
Specify how accrued expenses are calculated.
Chapter 10
Identify the types of process improvements as well as the methods used to improve the layout of a department.
Chapter 11
Recognize the controls used for invoice processing, recurring payments, expense reports, procurement cards, and petty cash.
Chapter 12
Identify the types of fraud that can apply to payables.
Chapter 13
Cite the impacts and features of the different types of payables technology.
Chapter 14
Identify the fields used in the vendor master file, and the methods used to derive supplier identification numbers.
Chapter 15
Specify the uses of the Form 1099 copies.
Identify the fields used in the Form 1099.
Specify the situations in which backup withholding is not required.
Chapter 16
Recognize the rules under which unclaimed property is sent to the applicable state government.
Specify the processes related to unclaimed property.
Chapter 17
Specify the areas in which cost recovery efforts can yield a significant return.
Chapter 18
Cite the situations in which certain payables measurements can yield incorrect or skewed results.
Major Topics
Payables
Invoice Processing
Types of Payments
Expense Reimbursement
Procurement Cards
Use Taxes
Finance Issues
Accounting for Payables
Closing Payables
Department Management
Payables Control
Payables Fraud
Payables Technology
Payables Record Keeping
Government Reporting
Unclaimed Property
Cost Recovery
Payables Measurements
