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The subject of Purchase Order (PO) invoices was covered at a high level in the course titled “A Deep Dive into The Responsibilities of Accounts Payable Operations.” This course covers the flow of PO invoices, from the time they are received by a Company to the point they are ready to be paid.
This course addresses the different types of Purchase Orders a Company may have as well as the different matching methods. Special attention is given to those areas more prone to mistakes. For examples, some inaccuracies can occur even before an Accounts Payable (AP) Processor is ready to enter the invoice into the system. We learn how to recognize them.
The accounting transactions posted when a PO invoice is processed is covered, including the posting of freight and taxes that may be billed on an invoice.
Learning Objectives
- Recognize the difference between Purchase Order (PO) and Non-PO invoices.
- Explore the different types of Purchase Orders a Company may have.
- Discover the different invoice to PO matching methods.
- Identify the General Ledger accounts that are debited and credited when a PO invoice is processed.
Included In Certifications
This course is included in the following Certification Programs:
13 CoursesAccounts Payable Certification
- Accounts Payable - Learn the Terminology
- Procure to Pay Work Stream
- A Deep Dive into the Responsibilities of Accounts Payable Operations
- Understanding Non-Purchase Order (PO) Invoice Transactions
- Understanding Purchase Order (PO) Invoice Transactions
- The Vendor Master – Creating A Solid Foundation for Accounts Payable Processing
- No PO, No Pay – Can It Work for Your Organization?
- Payment Process: Selection, Review, Approval, Release
- The Benefits of Reconciling Purchase Order Goods Receipts Not Yet Invoiced
- Strengthening Vendor Relationships - Steps That Can Be Taken by Accounts Payable
- The Basics of 1099's
- Creating an Accounts Payable Documentation Management Policy
- The Basics of Automation for Accounts Payable (AP) Specialists
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Prerequisites
It is recommended to take the following courses prior to completing this one: "Procure to Pay Work Stream" and "A Deep Dive into the Responsibilities of Accounts Payable Operations".