Online Class: Accounts Payable Training

Discover how this course transforms aspiring A/P managers by blending timeless skills with cutting-edge innovations, emphasizing vendor relations, customer service, and comprehensive technology use. Arm yourself with the expertise to handle complex financial landscapes and safeguard your enterprise against sophisticated fraud schemes.

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$120.00 (with CEU Certificate)
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  • 14
    Lessons
  • 26
    Exams &
    Assignments
  • 90
    Students
    have taken this course
  • 7
    Hours
    average time
  • 0.7
    CEUs
 
 
 

Course Description

Managing Accounts Payable: A Comprehensive Guide for New Managers

Stepping into the role of a manager for an accounts payable (A/P) department requires more than just a familiarity with invoicing or check processing. In today's rapidly evolving financial landscape, it demands an integrated understanding of multiple facets, from customer relations and vendor management to the nuances of modern technologies shaping the field. This course aims to provide a robust foundation for budding A/P managers, enriched with expert insights and best practices.

Why This Course?

Accounts payable is the backbone of a company's financial operations. However, it's not merely about disbursing payments. It's about establishing robust internal controls, fostering healthy vendor relationships, ensuring seamless transactions, and navigating the intricacies of contemporary technologies. Our course goes beyond traditional learning, offering guidance from seasoned professionals who have navigated the complexities of the A/P world for years.

What You Will Learn:

  • Lesson 1: What Is a Manager?
    Dive into the realm of management, exploring the responsibilities and expectations from an A/P department leader. Understand the balance between leadership and teamwork, and the pivotal role a manager plays in optimizing operations.

  • Lesson 2: Handling Invoices
    Discover best practices in invoice management. From accurate recording to timely approvals, learn how to ensure a smooth invoicing process.

  • Lesson 3: Checks
    Understand the intricacies of check processing, from issuance to reconciliation. Explore modern alternatives and the evolving landscape of digital transactions.

  • Lesson 4: Preventing Errors
    Errors can be costly. Delve into meticulous procedures and checks that can be implemented to minimize discrepancies.

  • Lesson 5: Customer Service, Internal Controls, and the Annual Audit
    Grasp the importance of impeccable customer service, the establishment of robust internal controls, and preparations for the annual audit to ensure transparency and trust.

  • Lesson 6: Fraud: Vendor, Employee, and Check
    In a world where frauds are becoming increasingly sophisticated, arm yourself with knowledge and preventive measures to shield your organization.

  • Lesson 7: How Companies Use Technology in Accounts Payable
    From AI to automation, understand how modern technologies are reshaping A/P processes, offering efficiency and accuracy.

  • Lesson 8: Traditional Functions and the 21st Century
    While we embrace new methodologies, the core functions remain vital. Revisit traditional A/P roles and understand their relevance today.

  • Lesson 9: Using the Internet in Accounts Payable
    Harness the power of the internet for vendor communication, online transactions, and more, while ensuring security and compliance.

  • Lesson 10: Master Vendor Files
    Master the art of maintaining comprehensive vendor databases, ensuring seamless transactions, and optimizing vendor relations.

  • Lesson 11: Problems Caused by Discounts and Other Deductions
    Learn to navigate challenges posed by early payment discounts, rebates, and other deductions, ensuring mutual benefit and maintaining vendor relationships.

  • Lesson 12: Independent Consultants
    In the gig economy, working with freelancers and consultants is commonplace. Understand the financial nuances and compliance requirements associated with such engagements.

  • Lesson 13: 1099 Income Tax Forms
    Dive into tax implications and the importance of accurate 1099 form submissions, ensuring compliance and transparency.

  • Lesson 14: High-level Accounts Payable Concepts
    Wrap up your learning with a dive into advanced A/P concepts, preparing you for the strategic aspects of accounts payable management.

Expertise at Your Fingertips:
Benefit from the wisdom of our guest lecturer, a veteran disbursement manager with a wealth of A/P experience. Their expert tips, real-life examples, and best practices will provide invaluable insights.

Embark on this comprehensive journey and arm yourself with the knowledge and skills required to lead an A/P department effectively in the modern business world. This isn't just a course; it's your roadmap to success in the world of accounts payable management. Join us and shape your future as a competent, forward-thinking A/P manager.

Course Motivation

In today's fast-paced business world, few areas are as important to a company as having a successful Accounts Payable Manager.  More and more companies are understanding the importance of having a manager in Accounts Payable who go above and beyond what is normally called for.  For too long, businesses thought that having someone in Accounts Payable who was persistent and would keep at an account until it was caught up was what it took but that model is evolving.  As businesses are changing, the way that things have been done in the past is changing, as well.

Designed for the new manager of an Accounts Payable department, this course will help the student step into their new role and take a commanding and successful lead.  However, this course will also prove useful for anyone who is already in Accounts Payable and is seeking to expand their knowledge.  In other words, this course will take what you know and it will enhance it by adding proven management principles to your practices. 

In the marketplace today, Accounts Payable is more than just processing checks, mailing them and filing away mountains of back-up paperwork.  A good Accounts Payable manager understand all parts of the department everything from customer service and vendor management to check requests and purchase orders.

Finally, this course will show you how to handle invoices, how to process checks, dealing with audits and ensuring that your department operates as error-free as possible.  You'll be getting expert advice from a well-seasoned disbursement manager with extensive Accounts Payable experience. 

 
This course will provide you with everything that you need to know about being a successful Accounts Payable manager.  Some of the information might be familiar to you but there's a very good chance that you'll come across some invaluable new material.  If you are a new Accounts Payable manager or are about to become one, you might find yourself filled with reservations but after taking this course, you'll discover that the entire process was not nearly as frightening as you might have thought.

You'll learn what it is that a manager does and how to best operate an Accounts Payable department and you'll find ways to help motivate the people you manage into being the best possible performers.

This course will also discuss the following areas:

-     What is a manager:  You'll learn what a manager is, what a manager does, and the importance of always being on top of what is happening within your department.  You will also learn the key to managing your Accounts Payable department and how to best become a valuable asset to your company.

-      Invoice handling:  The student will understand the process of tracking invoices from the moment they arrive in the department until the final check is cut.  Students will also be walked through a step-by-step process to bring order to what might be a chaotic system.

-      Checks:  The lesson will address to core of the Accounts Payable department and will help the student to understand areas that might need to be examined and worked on.

-      Preventing errors:  Students will discover that duplication and missing invoices are among the most common problems in the Accounts Payable department and will be given real-world solutions that they can apply in reducing errors.

-      Customer service, internal controls and the annual audit:  Students will understand how the aspects of customer service apply to their department and will examine the concepts of internal controls and the annual audit.

-      Fraud:  Vendor, Employee, and Check:  This section of the course will instruct the student on the importance of overseeing things to ensure there is no fraud taking place, either due to a vendor or employee check mismanagement.

-      How companies are using technology in Accounts Payable:  The student will learn more information about using the information in the Accounts Payable department, as well as address software solutions that can make their department run more smoothly.

-      The importance of Master Vendor Files:  Students will see how Master Vendor Files are an important way to help ensure that vendors are paid in a timely manner and errors are avoided.  In addition, the files are invaluable tools to monitor fraud and error.

By the end of this course, the student will have a thorough knowledge of what it takes to manage a successful Accounts Payable department and how to implement changes needed in order to make it operate more efficiently.

  • Completely Online
  • Self-Paced
  • Printable Lessons
  • Full HD Video  
  • 6 Months to Complete
  • 24/7 Availability
  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
Universal Class is an IACET Accredited Provider
 
 

Course Lessons

Average Lesson Rating:
4.32 / 5 Stars (Average Rating)
"Extraordinarily Helpful"
(4,240 votes)

Lesson 1. From Team Member to Leader: Navigating New Dynamics and Building Respect

A manager guides their team in executing tasks and making critical decisions with precision and foresight, all while maintaining harmony and efficiency within the workplace. Balancing challenges and rewards, managers also play a crucial role as representatives in the sales and customer service process of the company. 63 Total Points
  • Lesson 1 Video
  • Lesson discussions: Role Model; Reasons for Taking this Course
  • Complete Assignment: Introduction
  • Complete Assignment: Manager Role
  • Assessment: Manager

Lesson 2. Revamping Invoice Management: A Path to Efficiency and Success

Efficient accounts payable management requires a comprehensive, process-driven approach that ensures invoices are tracked from arrival to payment. Implementing step-by-step practices can eliminate routine inefficiencies and improve both internal and vendor satisfaction. 103 Total Points
  • Lesson 2 Video
  • Lesson discussions: Unions
  • Complete Assignment: Invoice Process
  • Complete Assignment: Steps for an Invoice
  • Assessment: Invoices

Lesson 3. Streamlining the Check-Cutting and Mailing Process

Adopting frequent check-cutting schedules and thorough approval procedures helps businesses handle routine and urgent payment needs without compromising other operations. Balancing rush checks with improved processes leads to better financial management and reduced system abuse. 103 Total Points
  • Lesson 3 Video
  • Lesson discussions: Organizational Chart
  • Complete Assignment: Steps for Check Processing
  • Complete Assignment: Rush Checks
  • Assessment: Checks

Lesson 4. Enhancing Invoice and Payment Accuracy

Prevent payment duplications by instituting systematic invoice logging, software verification, and the strategic use of purchase orders. Tailor your process to include dedicated roles for oversight and utilize digital logging to mitigate lost invoices. 32 Total Points
  • Lesson 4 Video
  • Complete Assignment: Prevention
  • Assessment: Prevention

Lesson 5. The Unsung Role of Back-office Team in Public Relations

Effective customer service requires that every interaction, regardless of the counterpart, reflects positively on the company, highlighting the importance of training back-office staff. Building rapport with colleagues through informal events can further promote goodwill and understanding internally. 72 Total Points
  • Lesson 5 Video
  • Lesson discussions: Non profit vs Profit
  • Complete: Assignment 1
  • Assessment: Exam 5

Lesson 6. Guard Against Vendor Fraud

Fraud spans many forms, including counterfeit money and credit card misuse, necessitating ongoing education and control development. Awareness and proactive staff training are crucial in identifying and preventing these deceptive practices. 90 Total Points
  • Lesson 6 Video
  • Lesson discussions: Office Supplies
  • Assessment: Fraud

Lesson 7. The Role of Technology in Streamlining Accounts Payable

Technology transforms accounts payable by digitizing logging, tracking, and authorizing, minimizing paper trails and enhancing workflow transparency. These advancements allow for significant office space reduction and support global virtual teams, optimizing operational costs and productivity. 91 Total Points
  • Lesson 7 Video
  • Complete Assignment: Technology
  • Assessment: Technology

Lesson 8. Navigating Employee Travel Expenses in Modern Workplaces

Creating clear travel reimbursement policies and setting spending caps can help manage employee expenses while considering dietary needs and economic differences between cities. Opting for structured expense categories or corporate-booked travel can enhance cost control and prevent misuse. 92 Total Points
  • Lesson 8 Video
  • Lesson discussions: Online payments
  • Complete Assignment: Reimbursement
  • Assessment: Lesson 8 Exam

Lesson 9. Online Accounts Payable: Weighing Pros and Cons

Internet integration in accounts payable facilitates seamless digital transactions from invoicing to payments, enhancing speed and data handling efficiency. However, to preserve control and backup, businesses are encouraged to hybridize systems with both online and traditional paper records. 2 Total Points
  • Lesson 9 Video
  • Lesson discussions: Online Accounts Payable
  • Complete Assignment: Using the Cloud

Lesson 10. Streamlining Vendor Management: An Overview of Master Vendor Files

Implementing master vendor files aids in consistent vendor identification and prevents financial discrepancies by structuring transactions with vendor numbers. For optimal efficacy, these files require ongoing maintenance, secure handling, and regular review to align with financial expectations. 72 Total Points
  • Lesson 10 Video
  • Complete Assignment: Master Vendor File
  • Assessment: Master Vendor

Lesson 11. Navigating the Challenges of Discounts and Deductions

Effective management of discounts requires stringent workflow controls to prevent overpayment and ensure accurate invoicing. Strategies for correction include requesting refunds, crediting future bills, or halting payment transfers on flawed transactions. 60 Total Points
  • Lesson 11 Video
  • Lesson discussions: overpayment
  • Assessment: Deductions and Discounts

Lesson 12. Understanding the Value of Consulting Services

While independent consultants can address various issues like improving work-flow and fraud prevention, their fees can be opaque compared to product transactions. Companies should establish clear spending limits and expectations to ensure consultants offer the best value. 50 Total Points
  • Lesson 12 Video
  • Assessment: Consultant

Lesson 13. A Comprehensive Guide to Filing 1099 Income Tax Forms for Your Company’s Contractors

Businesses hiring contractors earning over $600 a year are obliged to issue 1099 forms, maintaining one for themselves while sharing copies with the IRS and the contractor. These forms must be aligned with the calendar year, filed by the end of January, and submitted electronically when exceeding 250 forms. 2 Total Points
  • Lesson 13 Video
  • Complete Assignment: 1099 and master vendor list

Lesson 14. Deep Dive into File Audits

Policy effectiveness in accounts payable hinges on garnering support from upper management, just as frontline staff need to buy into well-reasoned, clearly explained procedures. 102 Total Points
  • Lesson 14 Video
  • Lesson discussions: Final Course Poll - Your Opinion; Program Evaluation Follow-up Survey (End of Course); Course Comments
  • Complete Assignment: Accounting for What I Have Learned...
  • Assessment: Accounting
934
Total Course Points
 

Learning Outcomes

By successfully completing this course, students will be able to:
  • Identify and summarize the Accounts Payable Management job.
  • Handle invoices correctly and employ the necessary checks and balances.
  • Process checks correctly while employing the necessary checks and balances.
  • Prevent errors and common mistakes.
  • Provide good customer service, create internal controls, and prepare the department for the annual audit.
  • Detect and prevent fraud from vendors and employees.
  • Use technology in Accounts Payable to make the job more efficient.
  • Identify ways to use the Internet in Accounts Payable.
  • Summarize the processes involved in Master Vendor Files.
  • Avoid problems caused by discounts and other deductions.
  • Know what to do with independent consultants.
  • Process 1099s.
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 

Additional Course Information

Online CEU Certificate
  • Document Your Lifelong Learning Achievements
  • Earn an Official Certificate Documenting Course Hours and CEUs
  • Verify Your Certificate with a Unique Serial Number Online
  • View and Share Your Certificate Online or Download/Print as PDF
  • Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
Document Your CEUs on Your Resume
 
Course Title: Accounts Payable Training
Course Number: 30873
Lessons Rating: 4.32 / 5 Stars (4,240 votes)
Languages: English - United States, Canada and other English speaking countries
Availability: This course is fully available online in all 50 states, including California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, and Georgia. It’s also offered in major English-speaking countries, such as the United Kingdom, Canada, Australia, and Ireland.
Last Updated: April 2024
Course Type: Self-Paced, Online Class
CEU Value: 0.7 IACET CEUs (Continuing Education Units)
CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
Assessment Method: Lesson assignments and review exams
Instructor: Linda Zavadil
Syllabus: View Syllabus
Course Fee: $120.00 U.S. dollars

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Student Testimonials

  • "I Learned many things in this course which is very helpful for my career. All lessons were clear, well explained with example and addition link for advanced learning." -- Brandy R.
  • "I don't think any changes need to be made. The information is very useful and laid out in a way that helps someone who is not familiar with Accounts Payable to have a better understanding of how AP funtions." -- Lawerence R.
  • "I learned a lot from this course and I am now the manager of our Accounts Payable Department, Thank you!" -- Andrea R.
  • "Well planned, awesome material." -- Carol B.
  • "Over all after all is said and done I think this is a good course and the instructor is a fine instructor. In the future I might just take another course. I will never get to the point where I think I just too smart or know everything to take a class. I thank you for providing me with this excellent opportunity." -- Larry S.
  • "I really liked the procedure of accounts payable from receiving the invoice to cutting the check to filing." -- Larry S.
  • "The different process ideas were very helpful." -- SARAH B.
  • "I appreciated the promptness of the instructor's grading, and her comments were always encouraging and inspiring." -- Sylvia T.
  • "I actually found all parts very helpful, but I'd say overall, learning how to effectively set up and monitor an Accounts Payable system would be at the top of the list. Once the system is in place with proper log-in, signatures from the proper authorities/departments, payment processes, audits, etc., the whole Accounts Payable department is on its way to being one of the most structured parts of the organization." -- Sylvia T.
  • "This course was great!" -- Tabitha C.
View More Testimonials...
 

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