Accounts Payable: From Concepts to Practical Application

Introduction

This course is designed to provide participants with an in-depth understanding of accounts payable, from basic principles to modern practices, focusing on automation, financial analysis, compliance with international standards, and integrating artificial intelligence (AI) in financial management. Participants will acquire the necessary skills to enhance financial efficiency, analyze accounts payable reports, and make effective financial decisions.

Course Objectives

By the end of this course, participants will be able to:

• Gain a comprehensive understanding of the accounts payable process and its significance in the financial system.
• Apply best practices in invoice recording and payment processing.
• Utilize digital systems and automation tools to improve efficiency.
• Analyze accounts payable reports and make effective financial decisions based on accounting data.

Course Outlines

Day 1: Basics and General Concepts

• Define accounts payable and their role in the accounting cycle.
• Understand the difference between accounts payable and accounts receivable.
• The lifecycle of an invoice (from receipt to payment).
• The relationship between accounts payable and cash flow management.

Day 2: Recording and Accounting Process

• How to record invoices in the accounting system in line with international standards.
• Verifying the accuracy of invoices and accompanying documentation.
• Accounting for payables and payments.
• Reconciliation between suppliers and accounts.

Day 3: Technology and Automation

• Using ERP systems for managing accounts payable.
• Techniques like OCR and digital invoice scanning.
• Automating the approval and payment process.
• Data security and digital compliance in financial operations.

Day 4: Financial Analysis and Control

• Preparing and analyzing aging reports for accounts payable.
• Key Performance Indicators (KPIs) in accounts payable.
• Cash flow forecasting related to suppliers.
• Preventing fraud and monitoring unauthorized payments.

Day 5: Practical Applications and Professional Development

• Case study and analysis of a full accounts payable cycle.
• Practical exercise using an accounting program such as SAP or Oracle.
• Negotiation strategies with suppliers and improving payment terms.
• Professional development and the role of artificial intelligence in the future of financial operations.

Why Attend this Course: Wins & Losses!

• Boost efficiency: Improve your accounts payable processes using advanced technologies such as automation and AI.
• Make informed decisions: Enhance your ability to make financial decisions based on accurate data analysis and adherence to international standards.
• Practical skills: Engage in practical exercises and real-world case studies using advanced accounting software.
• Ensure compliance: Learn how to ensure compliance with international standards and protect data security in financial transactions.

Conclusion

By the end of this course, participants will have a comprehensive understanding of all aspects of accounts payable management and modern accounting practices, enabling them to improve financial efficiency and effectiveness in managing financial transactions.

Moreover, they will gain the skills needed to apply artificial intelligence to accounts payable processes, enhancing their ability to make data-driven decisions.