MODULE 1: OBJECTIVES ACCOUNTS PAYABLE

• To maximize processing efficiency
  
• To ensure invoices are processed to agreed terms
  
• To ensure payments made only when due and payable
  
• To ensure liabilities are fully recorded and distributed correctly
  
• To achieve effective balance between extending credit and maintaining good relations with suppliers

MODULE 2: HOW THE ACCOUNTS PAYABLE PROCESS WORKS

• Create your chart of accounts
  
• Setting up vendor details
• Examining and entering bill details
  
• Review and process payment for any invoices due

MODULE 3: CHECK INVOICE ACCURACY
Objective: Checking invoice accuracy is the most vital step of invoice verification.

• Confirm the Invoice Date.
  
• Confirm the Delivery with the Project Manager.
  
• Check the Vendor Information.
  
• Mark Invoice Due Date.
  
• Schedule the Payment.

MODULE 4: ACCOUNTS PAYABLE - CRITICAL SUCCESS FACTORS

• Single supplier database
  
• Accounts Payable Staff clear roles and responsibilities
  
• Payment terms defined and agreed with supplier
  
• Effective communication and feedback mechanisms in place to handle queries
  
• Establish and maintain good supplier relations
  
• Process in place for monitoring the status of invoices and payment schedules
  
• Authorization levels and payment terms held on the system
  
• Automated workflow to route documents to relevant personnel when problems need to be resolved
  
• Forward payment schedule to cashflow management 

MODULE 5: ISSUES ON ACCOUNT PAYABLE

• Untimely payment due incomplete documents from vendors
  
• Received invoices late from vendor/ outlets
  
• PO no not stated on the invoice
  
• Timely closing of AP/accruals
  
• PO issued but invoice never reached AP.
  
• Cancellation of PO was never informed to AP, Finance.
  
• Changes in price quoted was not informed to AP, Finance
  
• Invoices do not issue/received by AP, Finance