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Top 5 Tips to Reduce Payment Errors and Improve Processes in Your Accounts Payable - Webinar

  • ID: 4327514
  • Webinar
  • 100 Minutes
  • Lorman Business Center, Inc.
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Walk away with 5 effective, simple and inexpensive tips to improve processes, using real life examples.

Business owners are routinely challenged to establish a greater degree of accountability across their accounting department but struggle to pinpoint the ways to maximize opportunities to do so. As such, deficient accounting processes such as those regulating their accounts payable create an environment where increased risk of delays, inefficiencies, inaccurate information, and even fraud can take root and undermine the integrity of the entire accounting department. This live webinar will take attendees through the process of identifying, developing, and establishing opportunities for better accountability in accounts payable. From utilizing accounting technology to aligning step by step workflows and creating documented procedures, this comprehensive solution to one of the most common deficiencies in the accounting department will help attendees get control over their accounts payable and ensure there is accountability throughout every step.

Learning Objectives
  • You will be able to explain how to properly implement accounting technology and establish workflows for accounts payable processes.
  • You will be able to identify key signs of issues in accounts payable processes and be able to implement procedures to rectify them.
  • You will be able to recognize issues and potential problems in AP through clear reports.
  • You will be able to review your accounts payable processes with your team and identify areas for improvement and adjustment.
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How to Spot a Faulty or Inefficient AP Process
  • Absent Accounting Technology
  • Lack of Workflow
  • Roles and Permissions
  • Policies and Procedures
  • Timing, Delays, and Accuracy of Financial Reports
The Costs of Avoiding the AP Issues
  • Fraud
  • Cash Flow
  • Vendor Relations
5 Steps: How to Reduce Payment Errors and Improve Processes
  • Implement Accounting Technology
  • Establish Processes and Guidelines
  • Documentation
  • Vendor Statement Reconciliation
  • Create Accountability - Establish Review and Report Schedule
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Dennis M. Najjar, CPA, CGMA AccountingDepartment.com, LLC
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This webinar is designed for accountants, CPAs, accounts payable professionals, bookkeepers, tax managers, CFOs, controllers, business managers and owners, presidents, vice presidents, CEOs, auditors and consultants.
Note: Product cover images may vary from those shown