Accounts Payable Course

Lesson 1 • Core AP Documents and Terms

Introduces purchase orders, invoices, and payment terms as foundational documents. Builds vocabulary needed for all processing tasks ahead.

Lesson 2 • Key Stakeholders and Workflows

Identifies internal and external parties involved in AP transactions. Clarifies communication paths that drive accurate and timely payments.

Lesson 3 • AP's Role in Financial Operations

Defines accounts payable as a liability function and its position in the procure-to-pay cycle. Anchors all subsequent topics in organisational context.

Lesson 1 • Vendor Master Audit and Controls

Applies audit techniques to detect duplicate vendors, ghost vendors, and unauthorised changes. Strong controls reduce fraud and compliance exposure.

Lesson 2 • Maintaining and Updating Vendor Data

Establishes procedures for processing change requests and keeping records current. Outdated data is a leading cause of misdirected payments.

Lesson 3 • Vendor Master Record Structure

Describes the data fields, segments, and hierarchies within a vendor master file. Accurate structure ensures correct routing of invoices and payments.

Lesson 1 • Invoice Approval Workflows

Details how invoices move through approval queues based on amount and category. Proper workflow design reduces bottlenecks and audit risk.

Lesson 2 • Invoice Validation and Data Entry

Teaches field-level validation rules and accurate data entry into AP systems. Errors caught here prevent downstream payment failures.

Lesson 3 • Two-Way and Three-Way Matching

Explains matching invoices to purchase orders and receiving documents to confirm accuracy. Directly reduces overpayment and fraud risk.

Lesson 4 • Invoice Receipt Channels

Covers paper, email, EDI, and portal-based invoice intake methods. Establishes how channel choice affects processing speed and error rates.

Lesson 1 • Payment Terms and Timing Strategy

Analyses how payment terms affect working capital and supplier relationships. Strategic timing maximises early-pay discounts and avoids late fees.

Lesson 2 • Payment Execution and Confirmation

Guides the release of payments, bank file transmission, and confirmation of settlement. Ensures funds reach vendors and records are updated promptly.

Lesson 3 • Payment Methods and Selection Criteria

Compares cheques, ACH, wire transfers, virtual cards, and dynamic discounting. Matching method to transaction type reduces cost and risk.

Lesson 4 • Payment Run Preparation

Covers selecting invoices for a payment run, applying holds, and generating payment proposals. Accurate preparation prevents duplicate or erroneous payments.

Lesson 1 • Preventive and Detective Controls

Distinguishes controls that stop fraud before it occurs from those that detect it after. Layering both types creates a robust AP control environment.

Lesson 2 • Common AP Fraud Schemes

Examines billing fraud, cheque tampering, and fictitious vendor schemes with real patterns. Recognition of schemes enables proactive detection and prevention.

Lesson 3 • Responding to Control Failures

Provides a structured response process when fraud or control breakdowns are discovered. Timely response limits financial loss and preserves evidence.

Lesson 4 • AP Policy Design and Enforcement

Guides creation of written AP policies covering authorisation, documentation, and escalation. Clear policies reduce ambiguity and support consistent enforcement.

Lesson 1 • Reporting and Close Analytics

Produces AP aging reports, liability summaries, and trend analyses for management review. Data-driven close reporting supports forecasting and audit readiness.

Lesson 2 • AP Close Checklist and Timeline

Defines the sequence of tasks required to close AP within the financial reporting period. A structured checklist prevents missed steps and late adjustments.

Lesson 3 • Subledger to General Ledger Reconciliation

Reconciles the AP subledger balance to the general ledger control account. Unexplained variances signal posting errors or unauthorised transactions.

Lesson 4 • Vendor Statement Reconciliation

Compares vendor statements to internal records to identify missing or disputed items. Regular reconciliation prevents aged balances and strained vendor relations.

Lesson 1 • Withholding Tax Mechanics

Explains when and how to withhold taxes from vendor payments and remit to authorities. Accurate withholding protects the organisation from regulatory penalties.

Lesson 2 • Vendor Tax Classification

Covers collecting and validating vendor tax forms to determine withholding obligations. Correct classification prevents under-withholding penalties.

Lesson 3 • VAT in AP

Addresses self-assessment of VAT on purchases where VAT was not charged. Proper accrual and remittance avoids audit exposure.

Lesson 4 • Annual Information Reporting

Guides preparation and filing of annual vendor payment reports required by tax authorities. Timely and accurate filing avoids penalties and vendor disputes.

Lesson 1 • Measuring and Sustaining AP Performance

Establishes a KPI dashboard to monitor automation impact and continuous improvement. Ongoing measurement ensures gains are sustained and new targets are set.

Lesson 2 • Straight-Through Processing Design

Defines conditions enabling invoices to process without human intervention. Maximising straight-through rates reduces cost and accelerates payment cycles.

Lesson 3 • E-Invoicing and Supplier Portals

Explains structured e-invoice formats and supplier self-service portal capabilities. Digital invoice exchange eliminates manual entry and speeds validation.

Lesson 4 • Process Mapping and Improvement

Applies process mapping techniques to identify waste and redesign AP workflows. Documented current and future states guide technology and policy changes.