This course aims to provide participants with a solid understanding of the principles and practices of accounts payable (AP) and accounts receivable (AR) management. The course focuses on the key concepts, processes, and tools necessary to manage AP and AR effectively, ensuring financial accuracy and efficiency in business operations.

By the end of this course, participants will be able to:
1. Understand the fundamental principles of accounts payable and receivable management.
2. Efficiently manage the processes involved in AP and AR.
3. Utilize tools and techniques to streamline AP and AR operations.
4. Analyze and interpret key financial metrics related to AP and AR.
5. Implement best practices to improve the accuracy and efficiency of AP and AR management.

• Optimized Cash Flow Management
• Improved Vendor and Customer Relationships
• Reduced Operational Costs
• Enhanced Financial Reporting Accuracy
• Minimized Credit Risk
• Increased Efficiency and Productivity
• Enhanced Compliance and Reduced Fraud Risk
• Better Working Capital Management
• Improved Strategic Planning

• Accounts payable and receivable clerks
• Financial and accounting professionals
• Small business owners
• Administrative staff involved in financial processes

10 days

However, the duration can be adjusted based on the specific needs and pace of the participants.

Week 1: Fundamentals and Processes

 Introduction to AP and AR

• Course Overview and Objectives
• Importance of Effective AP and AR Management
• Key Terms and Definitions

Accounts Receivable Management

• AR Process Overview
  • Credit Policies and Terms
  • Sales Invoices and Recording Transactions
• Managing AR
  • Credit Management
  • Collection Strategies
  • Handling Bad Debts

Technology in Accounts Receivable

• Accounting Software for AR
  • Features and Benefits
  • Popular Software Options
• Automation in AR
  • Electronic Invoicing
  • Automated Payment Reminders

Accounts Payable Management

• AP Process Overview
  • Purchase Orders
  • Receiving Goods/Services
  • Vendor Invoices
• Managing AP
  • Vendor Management
  • Payment Processing
  • Handling Discrepancies

Technology in Accounts Payable

• Accounting Software for AP
  • Features and Benefits
  • Popular Software Options
• Automation in AP
  • Electronic Payments
  • Automated Approval Processes

Week 2: Analysis, Compliance, and Best Practices

 Financial Analysis and Reporting

• Key Financial Metrics
  • AR Turnover Ratio
  • AP Turnover Ratio
  • Cash Conversion Cycle
• Impact on Financial Statements

Regulatory and Compliance Issues

• Regulatory Requirements
  • GAAP/IFRS Standards
  • Tax Compliance
• Internal Controls
  • Preventing Fraud
  • Ensuring Accuracy and Reliability

Best Practices in AP and AR Management

• Industry Benchmarks
• Continuous Improvement Strategies
• Implementing Best Practices

Case Studies