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Do you have a “Black Hole” within your Accounts Payable operation?  You know, the place where invoices and related documentation go never to be found again?

Have you considered that Accounts Payable documentation is not just about the paper?  Any details written on the documentation also need to be retained and can, at times, be even more critical than the document itself. That's why you should create a document management policy specifically for Accounts Payable.

Creating a policy on managing, storing and retaining documentation can be time-consuming but once created, and enforced, the amount of time spent on the tasks of approving and processing vendor invoices, addressing exceptions, or storing, retaining and pulling documents for research, audit or litigation will be greatly reduced.  

Additional benefits include:

  • More timely posting of costs and liabilities
  • Payment to vendors per terms
  • Improved vendor relationships
  • Reduced frustration when accessing documents

This course identifies steps to be taken in creating such a policy and explores the points that should be included. Discussion also covers the inclusion of references to other policies applied by Accounts Payable and why they should be referenced in a Document Management Policy for Accounts Payable.

Finally, we touch on the subject of implementing software that would not only help you manage and retain the related documentation but could also help your company streamline related processing.  

Course Series

This course is included in the following series:

12 CoursesAccounts Payable

  1. Procure to Pay Work Stream
  2. A Deep Dive into the Responsibilities of Accounts Payable Operations
  3. No PO, No Pay – Can It Work for Your Organization?
  4. What to Consider in an Accounts Payable Workflow Solution
  5. Thinking About Centralizing Accounts Payable? – Due Diligence is Critical
  6. Selecting an Accounts Payable Automation Provider
  7. Creating an Accounts Payable Documentation Management Policy
  8. Benefits of An Accounts Payable Recovery Audit
  9. Strengthening Vendor Relationships - Steps That Can Be Taken by Accounts Payable
  10. The Benefits of Reconciling Purchase Order Goods Receipts Not Yet Invoiced
  11. Payment Process: Selection, Review, Approval, Release
  12. The Vendor Master – Creating A Solid Foundation for Accounts Payable Processing

4 CoursesAccounts Payable Automation

  1. What to Consider in an Accounts Payable Workflow Solution
  2. Selecting an Accounts Payable Automation Provider
  3. No PO, No Pay – Can It Work for Your Organization?
  4. Creating an Accounts Payable Documentation Management Policy

Learning Objectives

  • Identify suggested steps to be taken when creating an Accounts Payable Documentation Management policy.
  • Discover categories and subjects that should be included in such a policy
  • Explore the inclusion or reference to other policies policed by Accounts Payable
  • Define software tools that can automate the document management requirements

Included In Certifications

This course is included in the following Expert Certifications:

13 CoursesCertified Expert in Accounts Payable

  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

2 Reviews (20 ratings)Reviews

4
Member's Profile
Great training. I learned a few things needed to audit the AP function in my company.
Member's Profile
a bit dry although probably to be expected. course and info was just okay

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series 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
  2:44Introduction of Creating a Document Management Policy
Documentation Management Policy
  4:47Why Create an Accounts Payable Document Management Policy
  5:12Tips for Creating an AP Document Management Policy
  6:15What Should Be Included in an AP Document Management Policy
  9:13Subjects to be Included in an AP Document Management Policy – Part 1
  6:48Subjects to be Included in an AP Document Management Policy – Part 2
CONCLUSION
  2:50Course Conclusion
Continuous Play
  37:49Creating an Accounts Payable Documentation Management Policy
SUPPORTING MATERIALS
  PDFSlides: Creating an Accounts Payable Documentation Management Policy
  PDFCreating an Accounts Payable Documentation Management Policy Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM