In today's business climate, organizations are under increasing pressure to achieve more with fewer resources. This means that organizations cannot afford to squander opportunities to free up working capital. By releasing the largest possible amount of money tied up in the balance sheet, you can acquire the additional liquidity needed to fund growth, streamline operations, reduce expenses, improve service levels, and seize new investment opportunities as they arise.

Managing accounts payable (creditors) represents just one aspect of managing an organization's cash flow. Since organizations cannot survive without cash flow, managing accounts payable is a vital part of cash flow management. This training course provides businesses and other organizations with a strong sense of their position relative to industry leaders and shows them how to elevate their services and organizational processes to more advanced levels. This course presents documented strategies used by large companies, whether successful or unsuccessful, to clarify each process or approach.

Who Should Attend?

• Financial professionals and executives.
• Accountants.
• Accounts payable managers.
• Supervisors of accounts payable.
• Accounts payable staff.
• Debt and collections staff and accountants.

Knowledge and Benefits:

After completing the program, participants will be able to master the following:

• Understand the importance of the accounts payable function in relation to supply chains and cash flow.
• Effectively manage cash and working capital to reduce costs and improve cash flow.
• Understand the impact of risks and uncertainties on workflows, accounts, and cash flow.
• Work effectively with the fundamentals of accounts payable and financial accounting.
• Understand and apply the basics of accounts payable systems.
• Review and comment on payment methods and cash management.
• Integrate risk and uncertainty into accounts payable analysis.

Introduction to Accounts Payable

• Definition of Accounts Payable

  • Understanding the concept of accounts payable and its role in financial management.
  • The difference between accounts payable and accounts receivable.
  • The importance of accounts payable in the organization's cash flow.

• The Role of the Accounts Payable Department

  • Tasks of accountants and supervisors in the accounts payable department.
  • The relationship between accounts payable and other departments such as procurement and inventory.
  • The importance of communication with suppliers and customers to ensure smooth operations.

• Basic Tools and Techniques in Accounts Payable

  • Software available for managing accounts payable.
  • Basic concepts in payment invoices and outstanding amounts.
  • How to manage financial records using accounting systems.

Planning and Organizing Accounts Payable

• Setting Accounts Payable Policies

  • Establishing policies that define payment schedules and agreed terms with suppliers.
  • Defining appropriate payment terms: cash, credit, and discounts.
  • Determining procedures for late payments or settlements.

• Organizing Invoices and Receivables

  • How to organize invoices received from suppliers.
  • Verifying invoices and matching them with purchase orders.
  • Using automation systems to speed up and settle invoices.

• Setting Payment Schedules

  • Establishing an initial payment schedule based on payment terms.
  • Prioritizing payments and organizing them to ensure cash flow stability.
  • Using automated systems for organizing payments.

Managing Payments and Suppliers

• Building Relationships with Suppliers

  • How to build strong relationships with suppliers through timely payments.
  • The importance of benefiting from discounts and agreements with suppliers.
  • Strategies for dealing with suppliers who have flexible payment terms.

• Negotiating Payment Terms

  • How to negotiate better payment terms with suppliers.
  • Offering proposals to gain special payment benefits such as cash discounts.
  • Techniques for negotiating convenient payment schedules.

• Managing Outstanding Payments

  • How to deal with late payments and outstanding amounts.
  • Identifying the causes of payment delays and how to address them.
  • Dealing with suppliers when financial disputes arise.

Analyzing Accounts Payable and Cash Flow

• Analyzing Accounts Payable Financial Data

  • How to read and analyze unpaid invoices.
  • Calculating accounts payable ratios (such as Days Payable Outstanding).
  • Using financial analysis to assess payment management efficiency.

• Analyzing Cash Flow

  • How to link accounts payable to cash flow.
  • Strategies to improve cash flow through accounts payable.
  • Using financial analysis to forecast future cash needs.

• Analyzing the Impact on Supplier Relationships

  • How managing payments effectively can impact relationships with suppliers.
  • Improving the company’s reputation by maintaining accurate payments.
  • Strategies for managing overdue and outstanding invoices.

Modern Techniques and Tools in Managing Accounts Payable

• Modern Accounting Systems for Managing Accounts Payable

  • Using advanced software for managing accounts payable (e.g., SAP, Oracle).
  • How to integrate automation into the payment and invoicing process.
  • Monitoring processes via accounting systems.

• Electronic Payment Technologies

  • The advantages and disadvantages of electronic payments compared to traditional payments.
  • Using digital tools to expedite payments (e.g., credit cards, bank transfers).
  • Ensuring security during financial transactions.

• Automating Financial Procedures

  • How to automate payment accounts to reduce human errors.
  • Using smart applications for managing payment invoices.
  • Automatically tracking invoices and payment deadlines.

Preparing Financial Reports for Accounts Payable

• Preparing Periodic Reports

  • How to prepare monthly and annual reports for accounts payable.
  • Presenting an analysis of accounts payable in financial reports.
  • Directing reports to executives and auditors.

• Reviewing and Analyzing Reports

  • How to analyze financial data for accounts payable.
  • Interpreting accounts payable numbers to identify strengths and weaknesses.
  • Identifying discrepancies between scheduled and actual payments.

• Financial Planning Based on Reports

  • Using reports for short- and long-term financial planning.
  • Making financial decisions based on accounts payable reports.
  • Adjusting policies based on financial results.

Monitoring Operations and Financial Compliance

• Internal Control Systems for Accounts Payable

  • The importance of internal control in preventing financial fraud.
  • How to create an effective internal monitoring system.
  • Techniques to reduce errors and protect assets.

• Adherence to Local and International Regulations

  • Understanding local and international laws regarding accounts payable.
  • The necessity of complying with financial and accounting standards.
  • How to adjust processes to keep pace with regulatory changes.

• Auditing and Financial Review

  • The importance of internal and external audits.
  • How to conduct an internal audit for accounts payable.
  • Addressing audit findings and necessary improvements.

Cost Reduction and Efficiency Improvement Strategies

• Reducing Costs Related to Accounts Payable

  • How to reduce costs related to paid invoices.
  • Negotiating favorable payment terms to reduce costs.
  • Strategies to shorten payment periods.

• Improving Efficiency with Automation

  • Adopting automation in payment processes for greater efficiency.
  • Techniques to increase data accuracy and reduce delays.
  • Strategies to speed up the payment cycle.

• Restructuring Financial Operations

  • How to improve internal processes to accelerate payments.
  • Integrating advanced systems to enhance payment flow.
  • Techniques to reduce inefficiencies in operations.

Managing Financial Liquidity through Accounts Payable

• Analyzing Cash Liquidity Flow

  • How to link accounts payable to liquidity flow.
  • Strategies to improve financial liquidity management through accounts payable.
  • Analyzing the impact of payments on overall financial performance.

• Managing Working Capital

  • How to improve working capital cycles through accounts payable.
  • Identifying the optimal times for making payments.
  • Techniques to improve working capital efficiency.

• Enhancing Financial Forecasting

  • How to use financial data to forecast future liquidity needs.
  • Preparing accurate financial forecasts based on accounts payable data.
  • Managing financial risks due to payment delays.