Accounts Payable Best Practices

Accounts Payable Best Practices
$9.00 each

  • Credits:  1
  • Format: Interactive Self Study Audio-
  • Field of Study: Accounting-
  • Author/Speaker: Mary Schaeffer
Available Formats:
Advanced Preparation:None
Experience Level:Basic
Program Prerequisites:General Understanding ofAccountancy
Course ID:MS-114.23-SA
Published Date:Registered for 2023

The accounts payable function is changing at a dizzying pace. What worked yesterday may not work today. Given the current economy, 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 the poor or inefficient processes in their AP operations. Don't be one of them!

Topics include:
  • Why best practices matter
  • Invoice handling
  • Payment processes
  • Vendors and vendor file issues
  • Regulatory issues affecting the payment process
  • Travel and Entertainment
  • Fraud (both internal and external)
Learning Objectives:

After reading the course material, you will be able to:

  • Improve your invoice processing;
  • Implement effective payment technologies;
  • Comply with regulatory issues affecting the payment process;
  • Avoid costly mistakes due to spoofed emails;
  • Create effective expense reporting policies;
  • Avoid costly master vendor file practices; and
  • Deter fraud (both internal and external).
Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships: