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This course reviews the definition of liabilities as it pertains to Accounts Payable before exploring the different responsibilities of many Accounts Payable operations.

We discover the different types of documents an Accounts Payable operation may be involved in processing; Invoices, Credit Memos, adjustments to Accrued Purchase Order (PO) Receipts, review of Aged Accounts Payable and Outstanding Checks, identification of Funds to be Accrued, etc. We identify the differences between processing a Purchase Order invoice and an invoice that does not reference a PO. We discover some of the challenges Accounts Payable can face with each classification. We identify the most critical components of the vendor’s invoice and discover solutions on how to address the issue of missing data. We explore the risks of processing the same invoice more than once and what can be done to mitigate this risk. We also identify the difference between a duplicate invoice and a duplicate billing. Discussions include explanation of the accounting transactions resulting from the posting of an invoice, by type, and the posting of a credit memo.   Batch processing will also be addressed.

Finally, we identify the responsibilities of the Accounts Payable operation in monitoring common business specific rules; Payment Terms, Payment Methods, and Sales and Use Tax to name a few.

Learning Objectives

  • Explore the definition of a liability as it pertains to Accounts Payable
  • Identify the different types of documents processed by the Accounts Payable operation
  • Explore the differences between Purchase Order (PO) and Non PO invoices
  • Identify the most critical data points that should be present on a vendor’s invoice
  • Discover the difference between a duplicate invoice and a duplicate billing
  • Explore the accounting transactions that are posted as invoices and recognize how credit memos are processed
  • Discover the responsibilities the Accounts Payable organization has in monitoring for business specific rules
  • Identify some tips and tricks in working with vendors inquiring about the status of invoices and payment
Last updated/reviewed: November 12, 2019

Included In Certifications

This course is included in the following Certification Programs:

13 CoursesAccounts Payable Certification

  1. Accounts Payable – Learn the Terminology
  2. Procure to Pay Work Stream
  3. A Deep Dive into the Responsibilities of Accounts Payable Operations
  4. Understanding Non-Purchase Order (PO) Invoice Transactions
  5. Understanding Purchase Order (PO) Invoice Transactions
  6. The Vendor Master – Creating A Solid Foundation for Accounts Payable Processing
  7. No PO, No Pay – Can It Work for Your Organization?
  8. Payment Process: Selection, Review, Approval, Release
  9. The Benefits of Reconciling Purchase Order Goods Receipts Not Yet Invoiced
  10. Strengthening Vendor Relationships - Steps That Can Be Taken by Accounts Payable
  11. The Basics of 1099's
  12. Creating an Accounts Payable Documentation Management Policy
  13. The Basics of Automation for Accounts Payable (AP) Specialists

16 CoursesAccounts Payable Management Certification

  1. Accounts Payable – Learn the Terminology
  2. A Deep Dive into the Responsibilities of Accounts Payable Operations
  3. The Vendor Master – Creating A Solid Foundation for Accounts Payable Processing
  4. The Basics of 1099's
  5. Prioritizing Accounts Payable Workload – Divide and Conquer
  6. Strengthening Vendor Relationships - Steps That Can Be Taken by Accounts Payable
  7. The Benefits of Reconciling Purchase Order Goods Receipts Not Yet Invoiced
  8. Reconciling Aged Open Payables and Outstanding Checks
  9. Benefits of An Accounts Payable Recovery Audit
  10. No PO, No Pay – Can It Work for Your Organization?
  11. What to Consider in an Accounts Payable Workflow Solution
  12. Creating an Accounts Payable Documentation Management Policy
  13. Communicating the Role of Accounts Payable to Others
  14. Justifying and Presenting the Needs of Accounts Payable Operations
  15. The Basics of Project Management for Accounts Payable
  16. KPIs and Metrics for Accounts Payable Manual Processes

46 Reviews (198 ratings)Reviews

4
Anonymous Author
Helpful overview of AP ops. Would use to onboard new staff and communicate responsibilities.
5
Anonymous Author
This course was very informative, I love how it was separated into each section and you didn't have to listen straight through the entire video. it definitely is a lot of information to take in. however, Anne did a wonderful job presenting the information.
4
Anonymous Author
As someone who does not have a background in AP, I think the wording on one of the last slides sums up this course well. AP is more than cutting a check! This course gives a perspective of the many things that an AP department should be responsible for.
5
Anonymous Author
I really liked how informative this was and felt that it was a great learning experience about the entire process of the Accounts payable job day in and day out. Its a lot more than just paying a check.
4
Member's Profile
Awesome Course! Very informative, only downside was the reading along becomes a little difficult because the audio does not read the page you are reviewing word for word, in the same way it is written.
4
Anonymous Author
What I liked about this course is that I gained in depth knowledge of the functionalities of the AP department. Someone working in the finance department would get the most benefit from this course.
5
Anonymous Author
This is a very good summary of all the types of issues that an A/P department can deal with and a good commentary on how to handle them. A/P is much more complicated than most of us think it is.
3
Member's Profile
The class was good.The class was good.The class was good.The class was good.The class was good.The class was good.The class was good.The class was good.The class was good.The class was good.
4
Member's Profile
This is a good review of the AP responsibilities of an organization. The course covers a lot of information and would be good for anyone that thinks AP is just about paying bills.
5
Member's Profile
I have been in accounts payable for quite some time and believe the course material is very useful as an annual course to remind staff of certain requirements and responsibilities.
5
Member's Profile
Someone just starting in AP would find this course very helpful. It helped confirm for me the processes we have in place are compliant with general accounting procedures.
5
Member's Profile
I liked that I learned more about credit memos, non-po's. New employees changing to an accounting payables position will get the most from this course by the videos.
2
Anonymous Author
Ann is very knowledgeable in regards to AP, however, the class itself is hard to follow. I do not feel as though Ann is as engaging as other presenters.
5
Anonymous Author
This is a great course to have a basic understanding on the accounts payable process specially for those that have not been involved with vendor payments.
5
Anonymous Author
Great course. Stated learning objectives were met. Program materials were relevant and contributed to the achievement of the learning objectives.
5
Member's Profile
The material is very easy to read and follow. The video and the PDF's are very useful and I appreciate that you can save them for future use.
4
Member's Profile
This course was very helpful and informational. Taking a short quiz after each section may be helpful in remembering some of the information.
5
Anonymous Author
This Course has helped me confirmed some AP Business Rules. Need a course just on that. Thanks you Anne for this well thought out course.
4
Member's Profile
Very good overview of AP process and asks a lot of rhetorical questions and leaves it up to the reader to think about and answer.
5
Member's Profile
Enjoyed the class. I have 30+ yrs in AP, this was a good refresher. A new AP specialist will benefit from this course.
5
Anonymous Author
The class was very helpful in explaining accounts payable responsibilities and what to look for in the documentation.
4
Anonymous Author
That was definitely a deep dive! Very informative - wish I would have taken a break at halfway to absorb though.
4
Member's Profile
Some of the questions in the exam where not entire addressed during the presentation and we overall confusing.
5
Anonymous Author
This is a very good overview of Accounts Payable. It would be beneficial to someone knew to the department.
4
Anonymous Author
All was clear and easy to follow. It will be nice to have hands on a system to do the steps manually.
5
Anonymous Author
Good overview. Pretty sure one of the final exam questions is worded incorrectly - missing a "not"
5
Member's Profile
Good overview of the accounting in the AP area and the various tasks and responsibilities of AP.
5
Anonymous Author
Good review of payable process. Good for people who have not worked in a complete AP process.
5
Anonymous Author
Good refresher course for A/P and the various aspects of what should be processed
Anonymous Author
Very good insight into Accounts Payable operations. Instructor is very detailed.
5
Member's Profile
Very informative, just the right amount of detail and well explained.
5
Anonymous Author
Very informative class on accounts payable and what they exactly do!!
5
Member's Profile
Good overview of the process and easy to listen to, not monotonous.
5
Anonymous Author
A lot on PO's and invoices, we don't use PO's but still very useful
4
Member's Profile
The presenter was very knowledgeable. Her presentation flowed well.
4
Anonymous Author
a good view into the a. p. process and what things get processes
4
Member's Profile
I appreciate the detail behind the scenes in the AP department
4
Anonymous Author
Good overview of the many functions A/P does within a company.
5
Member's Profile
Good review of Accounts Payable ops, some helpful insights
5
Anonymous Author
Overall a strong introduction to AP terminology and process
4
Anonymous Author
There is a lot of information in a short amount of time.
4
Anonymous Author
Good overview of AP functions within an organization.
5
Member's Profile
This course has been very helpful. Great instruction.
5
Anonymous Author
This presenter was very knowledgeable on the subject.
4
Anonymous Author
This course was very informative & easy to understand.
4
Member's Profile
Great course on AP.

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the course "Procure to Pay Work Stream" prior to completing this one.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION and OVERVIEW
  3:25Introduction to A Deep Dive into the Responsibilities of Accounts Payable
Responsibilities of Accounts Payable Operations
  3:40What is a Liability?
  4:59Accounts Payable Tasks and Documents
  8:45Receiving Documents and Details Supplied
  7:37Processing Documents and PO Invoices
  6:22Non PO Invoice Documents
  6:03Other Payment Requests, Credit Memos and Accruals
  5:17Addressing Aged Transactions
  3:12Payment Process
CONCLUSION
  5:55Business Rules to Consider
Continuous Play
  55:15A Deep Dive into the Responsibilities of Accounts Payable Full Video
SUPPORTING MATERIALS
  PDFSlides: A Deep Dive into the Responsibilities of Accounts Payable Operations
  PDFA Deep Dive into the Responsibilities of Accounts Payable Operations Glossary Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM