Account Payable Best Practices: One and a Half Day In-Person Seminar training seminars presented by ComplianceOnline register now on FindaSeminar.com

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Account Payable Best Practices: One and a Half Day In-Person Seminar  

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Accounts payable manager, Accounts payable director, Accounts payable supervisor, Accounting manager, Controller, Assistant controller, Accounts payable associate, Accountant, Accounting manager, Disbursements manager, Assistant accounts payable manager

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Seminar Summary:

This inter-active session will be filled with real-life examples and attendees will have the opportunity to not only interact with other attendees but see how they’d treat different delicate situations. (see full course description)

 

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Training Course Syllabus:


Course Description

The accounts payable function is changing at a dizzying pace. Technology, new frauds and regulatory changes are all taking their toll. What worked yesterday may not work today. Given the current business environment, mounting regulatory pressures, and the increased visibility and importance of the accounts payable function, best practices are something with which every professional needs to be conversant. Unfortunately, keeping up to speed these days can be like herding cats. While some best practices remain steadfast, others simply no longer work and are being replaced by new practices just now appearing.

The talk will include a discussion of the newest best practice every organization should implement to ensure crooks don´t get their hands on money or sensitive information. This is one session you might want to invite your colleagues in accounting, auditing and payroll to so they implement appropriate best practices and are not bamboozled by some of the newest frauds.

The truth is that companies ignore accounts payable best practices at their peril and the impact is felt on your bottom line. It´s that simple—yet some organizations continue to turn a blind eye to the leakage that occurs due to poor or inefficient process in their AP operations. Don´t be one of them!

This inter-active session will be filled with real-life examples and attendees will have the opportunity to not only interact with other attendees but see how they’d treat different delicate situations.

Learning Objectives:

Improve your invoice processing
Implement effective payment technologies
Comply with regulatory issues affecting the payment process
Avoid costly mistakes due to spoofed emails
Improve the invoice approval response time
Reduce the number of invoices submitted more than once
Earn more early payment discounts
Minimize the number of request for Rush payments and checks returned to requisitioners
Avoid costly master vendor file practices
Deter fraud (both internal and external)
Identify problems within their existing master vendor file practices
Implement master vendor file best practices that will enable proper TIN solicitation
Identify best control practices for the entire procure-to-pay process
Evaluate your own processes to identify weak controls that need tightening;
Identify frauds that can be prevented through good master vendor file practices
Make their master vendor file fraud-resistant;
Identify and collect all data needed to run an efficient and regulatory compliant AP function;
Address the segregation of duties issue correctly
Identify the types of payment frauds likely to impact your organization
Pinpoint seven common myths that often lull an organization into thinking they don´t have to take action against payment fraud
Evaluate the different fraud protection products offered by the banking community
Create the proper controls within your organization so you can stop employee fraud
Address corruption and bribery issues
How to document new vendors
How to handle single purchase vendors in the master vendor file
How to prevent fraud in the master vendor file
What special treatment should you give critical vendors
Dealing with vendors who make nuisance calls
Dealing with unpleasant vendors and more


DAY 01(1:00 PM - 4:30 PM)

  • Registration Process: 1:00 PM – 1:30 PM

  • Session Start Time: 1:30 PM

  • 1:45pm - 2:45pm Best Practices Overview

  • 2:45pm - 3:15pm Best Practices Currently in Use at Other Companies

  • 3:15pm - 3:45pm Invoice Handling Best Practices and Issues

  • 3:45pm – 4:00pm The Evolving Payment Process and How to Adapt

  • 4:00pm – 4:30pm TIN Solicitation BP
  • DAY 02(8:30 AM - 4:00 PM)

  • 8:30 - 9:00 Greet, review previous day’s topics/answer questions

  • 9:00 – 9:45 Master Vendor File

  • 9:45 – 10:15 Vendor issues and Problems

  • 10:15 – 11:00 Internal Controls Master Plan

  • 11:00 – 11: 40 Internal Controls in AP: Step-by-Step

  • 11:40 – 12:00 Internal Controls: Often-Overlooked Control Weaknesses

  • 12:00 - 1:00 Lunch

  • 1:00 - 1:45 Common Regulatory Issues Directly Impacting the Accounts Payable and Payment Process

  • 1:45 – 2:45 Payment Fraud Prevention/Detection Best Practices

  • 2:45 – 3:30 Evolving Issues Impacting Fraud


  • 3:50 – 4:00 Concluding Remarks

  • Seminar Summary:

    This inter-active session will be filled with real-life examples and attendees will have the opportunity to not only interact with other attendees but see how they’d treat different delicate situations. (see full course description)

    print this agenda print agenda for the Account Payable Best Practices: One and a Half Day In-Person Seminar training seminar

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