Accounts Payable Operations Responsibilities

This course evaluations the definition of liabilities because it pertains to Accounts Payable earlier than exploring the totally different duties of many Accounts Payable operations.

We uncover the various kinds of paperwork an Accounts Payable operation could also be concerned in processing; Invoices, Credit Memos, changes to Accrued Purchase Order (PO) Receipts, evaluation of Aged Accounts Payable and Outstanding Checks, identification of Funds to be Accrued, and so forth. We establish the variations between processing a Purchase Order bill and an bill that doesn’t reference a PO. We uncover a number of the challenges Accounts Payable can face with every classification. We establish probably the most crucial parts of the seller’s bill and uncover options on easy methods to handle the difficulty of lacking information. We discover the dangers of processing the identical bill greater than as soon as and what might be accomplished to mitigate this danger. We additionally establish the distinction between a replica bill and a replica billing. Discussions embrace clarification of the accounting transactions ensuing from the posting of an bill, by kind, and the posting of a credit score memo. Batch processing may also be addressed.

Finally, we establish the duties of the Accounts Payable operation in monitoring frequent enterprise particular guidelines; Payment Terms, Payment Methods, and Sales and Use Tax to call just a few.

Who this course is for:

• Anyone excited about accounting, finance, or associated fields.