Accounts Payable Excellence: Building a Best-Practice Function
1Summary
Ask most finance teams where cash quietly leaks out of the business, and accounts payable is rarely the first answer — yet duplicate payments, missed discounts, and slow reconciliations add up fast. This course from the Arab British Fellowship Training Academy treats accounts payable as what it really is: a direct lever on an organisation's cash flow and working capital, not just a back-office processing task.
Participants benchmark their AP function against what leading companies do differently, then work through the systems, controls, and habits that separate a reactive payables department from one that actively protects cash. The course draws on documented strategies from both high-performing and struggling companies, showing how each approach plays out in practice.
2Objectives and target group
Who Should Attend?
- Finance executives, accountants, and accounts payable managers, supervisors, and staff.
- Accounts receivable managers, staff, and revenue accountants who work alongside the payables function.
- Billing, collection, and AR specialists, and finance professionals who interact with accounts payable operations.
- Anyone looking to build their capabilities in accounts payable and cash management.
What You Will Gain
- A clear view of how accounts payable links to the supply chain, cash flow, and the general ledger through purchase orders, inventory control, and the purchase ledger.
- Practical methods for managing cash and working capital to cut costs and strengthen cash flow.
- An understanding of how risk and uncertainty affect accounts payable and cash flow, and how leading global companies handle it.
- The ability to apply accounts payable and financial accounting fundamentals, review payment methods, and manage cash effectively.
3Course Content
Module 1: Foundations of Accounts Payable Management
- Role and importance of AP in financial management, and the key components of the AP process.
- Legal and regulatory considerations shaping AP work.
- Overview of accounts payable automation and where technology fits into the process.
Module 2: Processing Invoices Accurately
- Receiving and reviewing vendor invoices, and matching them against purchase orders and receiving documents.
- Validating invoice accuracy, resolving discrepancies, and managing the approval workflow and invoice coding.
- Processing pro-forma invoices, VAT payment schedules, and handling non-deductible items.
Module 3: Payments, Discounts and Vendor Accounts
- Comparing payment methods and their benefits and drawbacks, including electronic payment systems and online banking.
- Setting up new supplier accounts, vendor file management, and setting payment terms and schedules.
- Claiming settlement discounts and rebates, and reclaiming credit notes and overpayments.
Module 4: Cash Flow, Budgets and Forecasting
- Cash forecasting and management, and optimising payment timing.
- Managing budgets and maximising supplier discounts.
- Capital versus revenue expenditure, and processing expense claims and credit card statements.
Module 5: Reconciliation and Error Prevention
- Performing supplier statement reconciliation and resolving disputes.
- Spotting errors promptly and avoiding duplicate payments.
- Journals, prepayments, accruals, and month-end closing procedures.
Module 6: Internal Controls, Fraud Prevention and Audit Readiness
- Internal checks and controls for error and fraud prevention and detection.
- Segregation of duties, authorisation processes, and compliance with accounting standards and internal policies.
- The role of auditors and how to prepare for an audit visit.
Module 7: Vendor Relationships and Communication
- Building and maintaining good relationships with vendors.
- Effective communication and negotiation with vendors.
- Monitoring costs and managing supplier statement reconciliations proactively.
Module 8: Reporting, Technology and Best Practice
- Generating accounts payable reports, aging analysis, and managing outstanding payables.
- Integrating accounts payable with the general ledger and financial statements.
- Benefits and challenges of AP automation, and best practices for streamlining invoice processing and payment workflows.