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The New Accounts Payable Toolkit

  • ITEM SKU
    8000
  • CPE Hours
    16
  • Full Course Price
    $104.50
Exam Questions: 80
Course Level: Basic
Pages: 494 | Content: 444, Supplemental: 50
NASBA Area of Study: Management Services
Not Acceptable for: Enrolled Agents
Version: 8000A

This course offers a comprehensive and timely new way of handling accounts payable systems and processes. It explores all aspects of the accounts payable process, from the establishment of the contract and the purchase order to the supplier validation process, invoice processing and payment, accounting, and fiscal close. You'll find best practices, tools, and internal controls that can help safeguard a company's cash and other assets, while also discovering how to implement new digital technologies in every aspect of the accounts payable process. You'll find information on new and upcoming trends in accounts payable, like artificial intelligence, machine learning, and robotic process automation. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

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Course Information

Table of Contents
  • The New AP Department
  • Automating the AP Process
  • What is the P2P Process?
  • Transforming the P2P Process
  • Structuring the AP Organization
  • Supplier Selection and Management
  • Contract Management
  • Purchasing and Ordering
  • Receiving
  • The Supplier Master File
  • Invoice Processing
  • P-Cards
  • Travel and Entertainment
  • The Payment Process
  • Accounting, Reconciliation Processes, Self-Audit Tools, and Internal Controls
  • Customer Service
  • Reporting, Analytics, and Benchmarking
  • Supply Chain Financing (SCF)
  • Escheatment
  • Sales and Use Tax
  • Independent Contractors and the 1099 Process
  • Business Continuity Planning
Objectives
  • To recall key characteristics of the segregation of duties (SoD) control
  • To recognize the characteristics of E-invoicing and supplier portals
  • To recall what business dependency modeling is typically used for
  • To identify the objectives of P2P automation
  • To recall the use for a R-A-C-I matrix
  • To recall the steps of the strategic sourcing process
  • To identify the characteristics of various types of contracts
  • To recognize the characteristics of punchout catalogs
  • To recall best practices for the warehousing process
  • To recognize the best practices associated with the supplier master file process
  • To recall the potential benefits of sending electronic invoices
  • To identify the characteristics and uses of various P-Cards
  • To recognize the elements of a travel and entertainment policy
  • To recall the final stage of the purchase order process
  • To identify examples of accrued expenses
  • To recall the reasons why managing the accounts payable process is challenging
  • To recognize the three common types of benchmarking initiatives
  • To recall the key players in driving a supply chain forecasting solution
  • To identify the origins of modern unclaimed property laws
  • To recognize various types of property that qualify as real property
  • To recall the federal income tax withholding rate on payments of U.S.-source income to non-U.S. persons
  • To identify business continuity plan best practices

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.