Fundamentals of Accounts Payable: An Accountants Handbook - v13 (Course Id 2175)

QAS / Registry

Author :	Mary S Schaeffer, MBA
Course Length :	Pages: 178 \|\|\| Word Count: 88,374 \|\|\| Review Questions: 66 \|\|\| Final Exam Questions: 75
CPE Credits :	15.0
IRS Credits :	0
Price :	$119.95
Passing Score :	70%
Course Type:	NASBA QAS - Text - NASBA Registry
Technical Designation:	Technical
Primary Subject-Field Of Study:	Accounting - Accounting for Course Id 2175
Description :	Understanding the fundamentals of the accounts payable function is critical for any organization that wants to run an effective and efficient accounts payable function. Without this understanding, weak processes are permitted making fraud easier to commit. Duplicate payments increase and the function is not cost-effective. This course presents information the professional can use to create a strong process and implement effective function. Industry expert Mary Schaeffer shows auditors, controllers, and managers how proper processes and fundamentals in the accounts payable function strengthen controls and lead to an efficient and effective accounts payable function.
Usage Rank :	72857
Release :	2023
Version :	1.0
Prerequisites :	None.
Experience Level :	Overview
Additional Contents :	Complete, no additional material needed
Additional Links :	Understanding Accounts Payable (AP) With Examples and How to Record AP
Advance Preparation :	None.
Delivery Method :	QAS Self Study
Intended Participants :	Anyone needing Continuing Professional Education (CPE).
Revision Date :	02-Aug-2023
NASBA Course Declaration :	Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :	NASBA QAS - Text - NASBA Registry - 2175
Keywords :	Accounting, Fundamentals, Accounts, Payable, Accountants, Handbook, v13, cpe, cpa, online course
Learning Objectives :	Course Learning Objectives Understand why setting up the accounts payable function correctly is important Detect potential problems when payments are made outside accounts payable Build an effective naming convention Delineate an effective process for entering data in the master vendor file Establish effective controls around the master vendor file Create an effective process for the receipt of invoices Identify duplicate invoices Construct new procedures for emailed invoices Understand and identify the problems associated with paper checks Reduce the number of paper checks Build programs that will eliminate (or partially eliminate) paper checks Create an effective p-card policy Identify and eliminate common p-card complications Craft an employee responsibility agreement for use of p-cards Craft an electronic payment expansion program Produce procedures for dealing with discrepant invoices Identify duplicate invoices Craft an effective process for dealing with invoices without a PO number or name of requisitioner Construct strong processes to avoid returning checks to requisitioners and issuing rush checks Eliminate all late fees Execute best practices when hiring a recovery firm Implement a travel policy that conforms to IRS guidelines Assemble a spot checking policy for expense receipts Set reasonable reimbursement practices Use positive pay correctly Implement policies that deter p-card fraud Pinpoint misconceptions that deter proper fraud protection Employ best practices to prevent ACH and wire fraud Create a policy to deal with the BYOD issue Create an effective policy and procedures manual Establish a policy for updating the accounts payable policy and procedures manual on a regular basis Develop effective procedures for handling information reporting requirements related to accounts payable (1099) Establish procedures for checking for bribery violations Integrate low-cost technology to create a more efficient accounts payable process Incorporate appropriate segregation of duties into your accounts payable process Pinpoint potential internal control breakdowns and craft procedures to fix them Improve productivity without spending a fortune Create an electronic payments program Identify and eliminate common problems associated with electronic payments Build a program to recover open vendor credits Earn all early payment discounts Create best practice supplier onboarding processes Delineate procedures for handling vendor inquiries Identify changes impacting accounts payable in the near future Chapter 1 The Foundation of the Accounts Payable Function Understand setting up the accounts payable function correctly is important Detect potential problems when payments are made outside accounts payable Chapter 2 Master Vendor File: Where the Process Should Begin Create an effective naming convention Delineate an effective process for entering data in the master vendor file Establish effective controls around the master vendor file Chapter 3 Invoice Processing: The Reason Accounts Payable Exists Create an effective process for the receipt of invoices Identify duplicate invoices Construct new procedures for emailed invoices Chapter 4 Checks: The Original (and Least Efficient) Payment Vehicle Understand and identify the problems associated with paper checks Reduce the number of paper checks Create programs that will eliminate (or partially eliminate) paper checks Chapter 5 Purchase Cards: Streamlining the Payment Process for Small Purchases Create an effective p-card policy Identify and eliminate common p-card complications Craft an employee responsibility agreement for use of p-cards Chapter 6 Electronic Payments: The Most Efficient Payment Vehicle Create an electronic payment program Avoid common pitfalls when making electronic payments Craft an electronic payment expansion program Chapter 7 Operational Issues: Invoice Handling and Processing Create procedures for dealing with discrepant invoices Identify duplicate invoices Craft an effective process for dealing with invoices without a PO number or name of requisitioner Chapter 8 Operational Issues: Payments Earn most early payment discounts Create strong processes to avoid returning checks to requisitioners and issuing rush checks Eliminate all late fees Chapter 9 Inaccurate Payments and Payment Auditing Identify duplicate payment Create a process for performing an in-house payment audit Implement best practices when hiring a recovery firm Chapter 10 Expense Reimbursement (Travel & Entertainment) Implement a travel policy that conforms to IRS guidelines Create a spot checking policy for expense receipts Set reasonable reimbursement practices Chapter 11 Check and P-card Payment Fraud: Detection and Prevention Use positive pay correctly Minimize p-card fraud Implement policies that deter p-card fraud Chapter 12 Electronic Payment Fraud Detection and Prevention Identify misconceptions that deter proper fraud protection Implement best practices to prevent ACH and wire fraud Create a policy to deal with the BYOD issue Chapter 13 Fraud: Other Types Affecting the Account Payable Function Identify different types of payment fraud Create procedures to deter, detect and prevent all types of payment fraud Chapter 14 The Accounts Payable Policy and Procedures Manual Understand why an accounts payable policy and procedures manual is critical Create an effective policy and procedures manual Establish a policy for updating the accounts payable policy and procedures manual on a regular basis Chapter 15 Regulatory Issues Affecting the AP Function: A Lot More than Just 1099s Build effective procedures for handling information reporting requirements related to accounts payable (1099) Establish procedures for checking for bribery violations Chapter 16 Using Technology to Run a More Efficient Accounts Payable Function Create processes using technology to identify duplicate payments Integrate low-cost technology to create a more efficient accounts payable process Chapter 17 Internal Controls: The Glue that Holds a Best Practice Function Together Integrate appropriate segregation of duties into your accounts payable process Identify potential internal control breakdowns and craft procedures to fix them Chapter 18 Enhancing Operational Productivity in Accounts Payable: The Ongoing Challenge Enhance productivity without spending a fortune Minimize paper in account payable Improve efficiency Chapter 19 Enhancing Payment Productivity: The Electronic Payment Challenge Create an electronic payments program Encourage suppliers to accept electronic payments Identify and eliminate common problems associated with electronic payments Chapter 20 Enhancing the Bottom Line: Where AP Can Bring in Cash Create a program to recover open vendor credits Earn all early payment discounts Avoid late fees Chapter 21 Vendor Relations: An Often-Overlooked Issue IN AP Create best practice supplier onboarding processes Delineate procedures for handling vendor inquiries Chapter 22 The Future of the Accounts Payable Function Identify changes impacting accounts payable in the near future Delineate what will be needed to meet upcoming disruptions to the accounts payable processes
Course Contents :	Chapter 1: The Foundation of the Accounts Payable Function Chapter 2: Master Vendor File: Where the Process Should Begin Chapter 3: Invoice Processing: The Reason Accounts Payable Exists Chapter 4: Checks: The Original (and Least Efficient) Payment Vehicle Chapter 5: Purchase Cards: Streamlining the Payment Process for Small Purchases Chapter 6: Electronic Payments: The Most Efficient Payment Vehicle Chapter 7: Operational Issues: Invoice Handling and Processing Chapter 8: Operational Issues: Payments Chapter 9: Inaccurate Payments and Payment Auditing Chapter 10: Expense Reimbursement (Travel & Entertainment) Chapter 11: Check and P-card Payment Fraud: Detection and Prevention Chapter 12: Electronic Payment Fraud Detection and Prevention Chapter 13: Fraud: Other Types Affecting the Account Payable Function Chapter 14: The Accounts Payable Policy and Procedures Manual Chapter 15: Regulatory Issues Affecting the AP Function: A Lot More than Just 1099s Chapter 16: Using Technology to Run a More Efficient Accounts Payable Function Chapter 17: Internal Controls: The Glue that Holds a Best Practice Function Together Chapter 18: Enhancing Operational Productivity in Accounts Payable: The Ongoing Challenge Chapter 19: Enhancing Payment Productivity: The Electronic Payment Challenge Chapter 20: Enhancing the Bottom Line: Where AP Can Bring in Cash Chapter 21: Vendor Relations: An Often-Overlooked Issue IN AP Chapter 22: The Future of the Accounts Payable Function Glossary

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Fundamentals of Accounts Payable: An Accountants Handbook - v13 (Course Id 2175)

Accounting - Accounting for Course Id 2175

NASBA QAS - Text - NASBA Registry - 2175