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Business : Invoice Handling Problems: How Best Practice Organizations Address them

Invoice handling problems,Business, Business development,Business management


NetZealous LLC

Summary

Price
£140 inc VAT
Or £46.67/mo. for 3 months...
Study method
Online, self-paced
Duration
1 hour
Access to content
6 months
Qualification
No formal qualification
Additional info
  • Tutor is available to students
  • Certificate of completion available and is included in the price

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Overview

Automation was supposed to eliminate many of the headaches associated with invoice processing. Unfortunately, automation continues to allow duplicate and erroneous payments to slip through the cracks, leading to decreased efficiency in accounts payable and an increase in the potential for fraud and regulatory noncompliance. This webinar will provide you with practical, advice on how to create an efficient and compliance invoice handling process.

Description

Why you should Attend

In AP Now's recent Invoice survey, respondents identified their most pressing problems regarding the invoice handling process. What is readily apparent is that, despite the promise that automation would eliminate a lot of the headaches experienced with invoice processing that has just not happened.

If these issues are not addressed, the accounts payable function runs less efficiently than it could. But more importantly, duplicate and erroneous payments are more likely to slip in, fraud is facilitated and sometimes regulatory compliance is compromised. That's why we created this session.

Areas Covered in the Session

Formulate best practices to reduce the impact of common invoice handling problems, including:

  • Slow internal invoice approvals
    • Invoices without a purchase order number or name of the requisitioner
    • Invoices sent to the wrong person or place
    • Duplicate submission or invoices
    • Invoices missing information
    • Early payment discounts lost
    • Second invoices with a different invoice number
    • Checks sent back to the person requesting payment
    • Rush checks
  • Improve the invoice approval response time
  • Reduce the number of repeat invoice submissions
  • Earn more early payment discounts
  • Minimize the number of requests for rush payments and checks returned to requisitioners

Who is this course for?

  • Accounts Payable Professionals
  • Finance Personnel
  • Accounting Professionals
  • Small Business Owners

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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At Reed Courses, 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 Courses, 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.