Need to know how to Allocate and Manage Business Expenses

Why this is vital to add Value for Efficient Business Workflow

How to streamline Management Reports

Accounts payable and its management is a critical business process through which an entity manages its payable obligations effectively.

The accounts payable process or function is immensely important since it involves nearly all of a business's payments outside of payroll, regardless of size.

The object of accounts payable is to pay only business expenses, and invoices that are legitimate and accurate.

It also enables business entities to manage better cash flows i.e. making payments only when due, using the credit facility provided by vendors, etc.

Additionally, a bookkeeping and accounting system needs good accounts payable internal controls in order to minimise the risk of fraud, error and loss.

The purpose of accounts payable internal controls is to ensure that valid supplier and vendor invoices are properly recorded and promptly paid by the business.

Content discussed:

• Why is Account Payable important, and how it adds value to your business
• Key Accounts Payable Controls
• Processes, systems and procedures
• Organisational Accounts Payable Policy
• Year-end reporting requirements
• Methods of ensuring consistency with your Accounts Payable functions
• Processing Methods
• Accounts Payable management reporting tools
• Data Capture, workflow processes and document control management
• Electronic invoices, purchase orders and shipping documentation
• Transactions from initiating purchase order to completing invoice payment
• Simplifying standard internal procedures
• Accruals & Provisions - to effectively use methods during close-off periods
• Streamline management reports and reducing unnecessary information
• Year-end close-offs and the importance of a check list
• Reconciling your Accounts Payable accounts
• How to prevent duplicate payments
• How to reduce unallocated payments
• Your filing system - ensuring your information is ready for your auditors
• Vendor information you are required to have
• Procurement policies and procedures with overview

The presenter, Ruzel van Jaarsveld – has over 23 years financial and bookkeeping experience. She has worked in as many industries as well as corporate environments, with extensive knowledge and practical experience of books to financial statements, payroll, VAT and Payee returns, Inventory control, Management Accounts and E-filing.

She is currently with Finsolve Accounting & Tax Solutions which provides Accounting services to an extensive client base of individuals and business operations, and forms part of a team of experienced Accountants and Tax Practitioners.

She is also the Head Facilitator of Biz Facility Training with numerous years of experience of presenting various Financial Workshops to a vast number of business owners and financial staff from many companies.

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