David Parmenter points out how the accounts payable team is the centre of the finance team and timely and accurate information cannot be delivered without the AP team working with 21st century better practices and technologies.
Without the smooth AP operation: monthly accounts cannot be prepared promptly; the company does not, at any point in time, know of its total liabilities; budget holders spend too much of their valuable time processing orders and approving invoices for payment; and there is a low level of accuracy in the monthly accounts due to missed liabilities and posting errors.
Many accounts payable processing procedures are more akin to the Charles Dickens era than the 21st century. Why do we go from an electronic transaction in the suppliers accounting system to a Charles Dickens paper based invoice? Surely we should be able to change this easily with our major suppliers?
This workshop is based on better practices emerging from an in-depth ten year study of accounting functions and interaction with over 1,000 AP officers. Accountants and accounts payable staff will benefit from this session, which provides an opportunity for accounts payable teams to workshop ideas with each other.
All accounts payable staff should attend, together with an accountant who would be best positioned to support them with better practice changes. Participants can be assured of a lively and thought provoking workshop. In this session over 50 better practices and technologies will be discussed and participants will be encouraged to share their better practices. This course has frequently sold out so book early to avoid disappointment.
This session will cover:
- implementing 21st century AP technology and techniques
- reducing up to 60% of your volume from the AP ledger
- the benefits of a ‘free accounts payable system for your low value transactions – the purchase card
- moving towards a paperless AP function (electronic purchase orders, scanning )
- streamlining payments – how to throw away the cheque book, web based remittances
- working more efficiently and effectively with suppliers and budget-holders
- ways to improve the day to day A/P administration (handling purchase orders, purchase invoices)
- A/P staff issues (recruitment, training, increasing team morale)
- the better practices that your fellow participants have achieved
- how to cut-off A/P promptly so month end reports can be prepared by day 3 or less
- the accounts payable team
- the accountants who work with their accounts payable team
Upon attending you will able to:
- identify the accounts payable better practices they wish to adopt to score goals for the AP team
- employ the chosen AP better practices
- recall the participant better practices which have arisen during the workshop
- recall the ways the accounts payable team can help accounting team with prompt month-end reporting
review, at your leisure, all workshop content in the comprehensive accompanying paper written by David Parmenter, with a value of $250.
Event Organizers and Professional bodies
If this course is relevant to your clients / members, please complete the enquiry form or email to firstname.lastname@example.org.
Booking an in-house course
David Parmenter travels on at least five major speaking tours a year. It is highly likely that a mutually convenient date can be found.