Accounts Payable Optimization

Begin by learning the terminology and acronyms. After all, how can you understand how to optimize AP if you don’t understand the lingo?

Next you’ll learn why the Vendor Master Record is so critical to the execution of Purchase Orders and related Accounts Payable processes and how to keep it complete and accurate.

Discover the Procure to Pay workstream to help you better understand how it fits into AP as a whole, and how the payment process factors into the efficiency of your AP workflow.

Learn how to create a policy for managing, storing, and retaining documentation so you don’t have to deal with a black hole of paperwork — or the headache that comes with losing important information.

Next explore Purchase Orders vs Non-Purchase Order invoice transactions and how they are processed differently, as well as how to reconcile aged open payables and outstanding checks.

SKU *: crs-1657980
Sell price $: 129.00
Course Author: Anne Wheeler
Authored on: 2019-08-05 06:34:59 -0700
Course Short Description:

Accounts Payable Optimization
CPE Credits Awarded *: 9.5
Approval Status: - None -
Course is for: ** Main Course Library **
Course Duration: 9.5
Complexity of Content: Intermediate
Suppress in lists: No
Last Updated/Reviewed Date: March 1
Course Topic: Accounts Payable
Learning Objective:
  • Recognize the definitions of acronyms commonly used in Accounts Payable (AP), the meaning of widely used terms as they relate to the Procure to Pay Work Stream which includes Accounts Payable, and the benefits of creating a Glossary of terms used within your company for the benefit of AP staff members and others working with the team.
  • Identify what roles Purchasing and Accounts Payable can play in the maintenance of Vendor Records and the key data points that should be included in any Vendor Record.
  • Identify the components of the Procure to Pay work stream and the benefits of creating a Purchase Order (PO)
  • Discover steps that could make your Payment Process more efficient and effective
  • Identify suggested steps to be taken when creating an Accounts Payable Documentation Management policy.
  • Recognize the difference between Purchase Order (PO) and Non-PO invoices.
  • Explore how aged Open Payables can impact a Company’s financials and the benefits of reconciling aged Open Payables.
  • Explore what an Accounts Payable (AP) Recovery Audit is and recognize what can be covered.
  • Discover Key Performance Indicators (KPIs) for use in Accounts Payable (AP) and the benefits of tracking KPIs for AP processes.
Course Type: CPE Course
Format: On Demand
Audit & Accounting: No
Careers: No
Ethics (NASBA): No
Excel: No
Finance: No
Human Resources (HR): No
Internal Audit: No
Leadership & Management: No
Marketing: No
Operations: Yes
Productivity & Tech: No
Risk Management: No
Sales: No
Tax: No
Field of Study: Specialized Knowledge
Other: No
CPA: Yes
CPD-IES7: No
CPD-IES8: Yes
CMA: Yes
CFE: Yes
Yellow Book: No
CGFM: No
CIA: Yes
CRMA: Yes
CPP: No
FPC: No
CTP: No
FP&A: No
CISM: No
CRISC: No
CISA: No
CIST: No
CRFS: No
SHRM-CP: No
SHRM-SCP: No
PHR: No
SPHR: No
GPHR: No
aPHR: No
PHRca: No
PHRi: No
SPHRi: No
Enable/Disable: Yes
CPE Credits: 9.5
Field of Study: Specialized Knowledge
CPE Delivery Method: QAS Self-Study
Program Location:

Online
*Program Level: Basic
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
Enable/Disable: Yes
Hours: 9.5
Field of Study: Specialized Knowledge
CPE Delivery Method: QAS Self-Study
Program Location:

Online
Enable/Disable: No
Program Location:

Online
Enable/Disable: Yes
CPE Credits: 9.5
Field of Study: Specialized Knowledge
CPE Delivery Method: QAS Self-Study
Program Location:

Online
*Program Level: Basic
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
Enable/Disable: Yes
CPE Credits: 9.5
Field of Study: Specialized Knowledge
CPE Delivery Method: QAS Self-Study
Program Location:

Online
*Program Level: Basic
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
Enable/Disable: No
Program Location:

Online
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
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Program Location:

Online
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Field of Study: Specific business topics such as finance and others
CPE Delivery Method: QAS Self-Study
CPE Credits: 9,5
Program Location:

Online
*Program Level: Basic
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
Enable/Disable: Yes
CPE Credits: 9.5
Field of Study: Other activities contributing to professional competence
CPE Delivery Method: QAS Self-Study
Program Location:

Online
*Program Level: Basic
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
Enable/Disable: No
*Program Location:

Online
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
~Credit Details:
Approved by APAThis activity,   ID No. 19 ILL 000   has been approved for  1.0 Recertification Credit Hour(s) toward CPP recertification through the American Payroll Association (APA). Please make note of the Course Code on your CPP Recertification Log. For more information about certification or recertification, please visit the APA website at   www.americanpayroll.org.
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No advanced preparation or prerequisites are required for this course.
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Program Location:

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*Prerequisites:

No advanced preparation or prerequisites are required for this course.
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Program Location:

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*Prerequisites:

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~Credit Details:

<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/IRS_CE_Provider_Logo_Color.jpg" width="150" height="39" alt="pre-approved by IRS" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->XXXXXX<!-- // --></span>&nbsp;has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->####<!-- // --> CPE credit hours toward IRS Enrolled Agent (EA) continuing education requirements. In accordance with the standards set forth in Circular 230 section 10.6, CE credits have been granted based on a 50-minute hour. </span></td></tr></tbody></table>
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<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->000000<!-- // --></span> has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->1.0<!-- // --> <!-- ONLY THIS PART CHANGES -->HR (General)<!-- // --> recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at &nbsp; <a href="https://www.hrci.org">www.hrci.org</a>. </span></td></tr></tbody></table>
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<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->000000<!-- // --></span> has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->1.0<!-- // --> <!-- ONLY THIS PART CHANGES -->HR (General)<!-- // --> recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at &nbsp; <a href="https://www.hrci.org">www.hrci.org</a>. </span></td></tr></tbody></table>
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No advanced preparation or prerequisites are required for this course.
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<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->000000<!-- // --></span> has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->1.0<!-- // --> <!-- ONLY THIS PART CHANGES -->HR (General)<!-- // --> recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at &nbsp; <a href="https://www.hrci.org">www.hrci.org</a>. </span></td></tr></tbody></table>
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No advanced preparation or prerequisites are required for this course.
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<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->000000<!-- // --></span> has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->1.0<!-- // --> <!-- ONLY THIS PART CHANGES -->HR (General)<!-- // --> recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at &nbsp; <a href="https://www.hrci.org">www.hrci.org</a>. </span></td></tr></tbody></table>
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*Program Location:

Online
*Prerequisites:

No advanced preparation or prerequisites are required for this course.
~Credit Details:

<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->000000<!-- // --></span> has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->1.0<!-- // --> <!-- ONLY THIS PART CHANGES -->HR (General)<!-- // --> recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at &nbsp; <a href="https://www.hrci.org">www.hrci.org</a>. </span></td></tr></tbody></table>
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*Program Location:

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*Prerequisites:

No advanced preparation or prerequisites are required for this course.
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<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->000000<!-- // --></span> has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->1.0<!-- // --> <!-- ONLY THIS PART CHANGES -->HR (General)<!-- // --> recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at &nbsp; <a href="https://www.hrci.org">www.hrci.org</a>. </span></td></tr></tbody></table>
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*Program Location:

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*Prerequisites:

No advanced preparation or prerequisites are required for this course.
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<table width="100%" border="0" cellspacing="0" cellpadding="5"><tbody><tr><td><img src="https://www.illumeo.com/lpfiles/hrci_ap_preapprovedseal_2016_150x.png" width="80" height="80" alt="pre-approved by HRCI" /></td><td align="left" valign="middle"><span style="font-size:10px;font-weight:normal">This activity, &nbsp; <span style="font-size:12px; font-weight:bold;">ID No. <!-- ONLY THIS PART CHANGES -->000000<!-- // --></span> has been approved for &nbsp;<!-- ONLY THIS PART CHANGES -->1.0<!-- // --> <!-- ONLY THIS PART CHANGES -->HR (General)<!-- // --> recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at &nbsp; <a href="https://www.hrci.org">www.hrci.org</a>. </span></td></tr></tbody></table>
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