In today's competitive business environment, organizations across all sectors are pressured to achieve more with fewer resources. This urgency highlights the importance of optimizing working capital to unlock cash tied up on balance sheets. A well-defined working capital strategy can enhance liquidity, allowing businesses to fund growth, streamline operations, reduce costs, improve service levels, and capitalize on new investment opportunities. Effective management of accounts payable is a crucial component of cash flow management, as organizations cannot thrive without sufficient cash flow. This training course offered by the Arab British Fellowship Training Academy equips businesses with insights into their performance compared to industry leaders. It showcases documented strategies and tactics from renowned companies, illustrating both successful and unsuccessful methods to enhance organizational processes to state-of-the-art levels.

Who should attend? 

• Finance Executives and Professionals 
• Accountants 
• Accounts Payable Managers 
• Accounts Payable Supervisors 
• Accounts Payable Personnel 
• Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills 
• Accounts Receivable (AR) Managers. 
• AR Staff, AR and Revenue Accountants.  
• Billing and Collection Officers, AR Specialists and Professional accounting and finance staff who interact with Accounts Receivable Operators. 

How attendees will benefit? 

After completion of the programme, delegates will be able to understand: 

• The importance of the accounts payable function with regard to its links with the supply chain and cash flow . 
•  The integrated systems of purchase order processing, stock (inventory) control, purchase ledger and cash payments and their links with the general ledger . 
• How to effectively manage cash and working capital to reduce costs and improve cash flow . 
•  The impact of risk and uncertainty on the business and its impact on accounts payable and cash flow . 
•  How leading companies from across the globe are achieving best practice in Accounts Payable. 
• Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain 
• Understand and apply the fundamentals of accounts payable systems 
• Review and comment on payment methods and cash management 
• Analyse the need to incorporate risk and uncertainty into accounts payable analysis 
• Identify best practice across all industries 

• The Accounting Environment 
• Achieving Best Practice 
• The role of auditors and what you can do to prepare for their visit 
• Internal checks and controls; error and fraud prevention and detection 
• Setting up new supplier accounts 
• Performing supplier statement reconciliations 
• Processing expense claims and credit card statements 
• Capital and revenue expenditure 
• Introduction to VAT and non-deductible items 
• Processing pro-forma invoices & VAT payment schedules 
• Monitoring costs, reclaiming credit notes, rebates and overpayments 
• Claiming settlement discounts 
• Spotting errors and mistakes promptly and avoiding duplicate payments 
• Journals, prepayments and accruals 
• Performing supplier statement reconciliations 
• Reviewing the Aged Creditors Listing 
• Monitoring costs 
• Managing Budgets and maximizing supplier discounts 
• Cash Forecasting and  Management 
• Invoice Handling 
•  Vendor File Management 
• Communications & Customer Relations 
• Payments and Payment Solutions