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Accounts Payable and Receivable


Acudemy

Summary

Price
Save 20%
£600 inc VAT (was £750)
Offer ends 30 June 2021
Study method
Online with live classes
Duration
3 days, Full-time
Qualification
No formal qualification
Additional info
  • Tutor is available to students
  • Certificate of completion available and is included in the price

1 student enquired about this course

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Dates

Start date
End date
06/09/2021
08/09/2021
06/12/2021
08/12/2021

Overview

An accounts payable and receivable system is an important part of any business today. This module will enable you to understand the processes behind purchase ledger and accounts receivable management which in turn improves accuracy and reduces costs associated with the work of the Accounts Payable and Receivable departments.

Description

Accounts Payable (Day 1 and Day 2) Key points which will be covered:

• Understanding the importance of your role
• Understanding the role of auditors and what you can do to prepare for their visit
• Internal checks and controls; error and fraud prevention and detection
• Setting up new supplier accounts
• Performing supplier statement reconciliations
• Processing expense claims and credit card statements
• Capital and revenue expenditure
• Introduction to VAT and non-deductible items
• Processing pro-forma invoices & VAT payment schedules
• Monitoring costs, reclaiming credit notes, rebates and overpayments
• Claiming settlement discounts
• Spotting errors and mistakes promptly and avoiding duplicate payments
• Journals, prepayments and accruals
• Performing supplier statement reconciliations
• Reviewing the Aged Creditors Listing
• Monitoring costs
• Managing Budgets and maximising supplier discounts
• Cash Forecasting
• Month end and year end procedures, the purpose of management accounts
• Effective filing
• Paperless AP technology

Accounts Receivable (Day 3)


• The importance of cash flow

• Techniques to get money into your business quicker

• Cash vs credit customers

• The working capital cycle

• How to calculate a bad debt provision


The accounts receivable information is as follows:


Learning Outcomes

The accounts receivable cycle

The accounts receivable best practices

Learn how to restrict fradulant practices in your accounts receivable department

How to increase your turnover

The accounts receivable information is as follows:

  • The importance of cash flow
  • Techniques to get money into your business quicker
  • Cash vs credit customers
  • The working capital cycle
  • How to calculate a bad debt provision

Who is this course for?

This course is ideal and recommended for Accounts Payable/Receivable team leaders who have a minimum one year years’ experience or who is new to Purchase/Receivable Ledger Supervisor roles or new Accounts Assistants

Requirements

There are no prerequisites or entry requirements, as long as you want to get more experience in the field of Accounts Payable/Receivable, this is the right place for you.

Career path

Accounts Payable/Receivable Team

Questions and answers

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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At reed.co.uk courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on reed.co.uk, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.