Certificate in Accounts Payable Management
Accounts Payable (AP) is not just about processing checks, mailing them, and filing backup paperwork. To effectively manage accounts payable, one must understand the AP department's building blocks, including, but not limited to, customer service, vendor management, check requests, and Purchase Orders (POs).
This course will discuss handling invoices, processing checks, preventing errors, conducting annual audits, and using technology in the department. You will also learn the best practices to adopt in your AP department and how to develop your department into an effective business partner.
PrerequisitesNone — open to managers at all levels
5 Days
Course Methodology
This course demonstrates theoretical and practical core topics and introduces Excel for managing accounts payable. The course also features role-playing and presentations by participants.
Course Objectives
By the end of the course, participants will be able to:
- Explain the strategic role of Accounts Payable (AP) and its contribution to organizational efficiency and financial performance
- Design and implement efficient Accounts Payable processes that support operational effectiveness and internal control
- Identify and analyze the core Accounts Payable processes and their interdependencies within the procure-to-pay cycle
- Apply industry best practices to enhance the effectiveness, accuracy, and value of the Accounts Payable function
- Assess the behavioral and interpersonal aspects involved in managing Accounts Payable teams and stakeholder relationships
- Demonstrate a business partnering approach by supporting cross-functional collaboration and organizational objectives
- Utilize Microsoft Excel tools and techniques to analyze, monitor, and improve Accounts Payable performance and reporting
Target Audience
Managers of accounts payable, AP staff and professionals, clerks, and specialists who wish to advance their careers. The course is also beneficial to professionals in accounting, finance, purchasing, and procurement who work closely with accounts payable.
Target Competencies
- Examining accounts payable
- Performing month-end accruals
- Preparing and analyzing accounts payable
- Preventing fraud
- Applying accounts payable best practices
- Implementing discounts
- Utilizing Excel functions
Course Outline
- The Important Role of AP
- The meaning of managing Accounts Payable
- The functions of management
- The big picture: Accounts Payable and the financial health of organizations
- The functions of the Accounts Payable department and the role of AP staff
- Impact of Accounts Payable on working capital and cash management
- Accounting Essentials for Accounts Payable
- Accounts payable terminologies
- General ledger and sub-ledger
- Preparing for month-end close and accruals
- Assessing the AP department
- Accounts Payable controls
- Accounts Payable Processes and Best Practices
- Invoice handling and routing
- The three-way matching
- Methods of payment processing
- Maintaining the vendor master file
- Travel and Entertainment (T&E)
- Procurement Cards (P-Cards)
- Electronic payment options
- Key Topics in Accounts Payable Management
- Continuous process improvement
- Applying best practices in your organization
- Identifying proper internal controls
- The annual audit as an added value
- Impact of AP outsourcing
- Detecting fraud in Accounts Payable
- Disaster recovery planning
- The Behavioral Side of Managing the Accounts Payable Department
- Improving the image of the AP department
- Ways to motivate AP staff
- Organizing the AP department
- Closing the communication gap
- Dealing with internal and external disputes
- Importance of internal customer service
- Providing customer service to vendors
- Accounts Payable Department as a Real Business Partner
- When should we pay our suppliers?
- Understanding the cost of funds
- Evaluating early payment discounts
- Pros and cons of early or late payments
- Relationship with the treasury department
- Using Microsoft Excel to Manage Accounts Payable
- Interface between the Accounts Payable system and Excel
- Using pivot tables to extract valuable information
- Preparing and analyzing Accounts Payable aging
- Role of Accounts Payable in improving suppliers' commercial terms
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Using Excel to Perform Accounts Payable Reconciliations
2026 Schedule & Fees
Course Fees Starting From
USD
0
Location & Date
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Virtual Learning
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