Accounts Payables and Receivables

Accounts Receivable (AR) professionals are responsible for providing financial, administrative and accounting services in order to ensure effective, efficient and accurate financial and administrative operations. AR professionals perform day to day processing of financial transactions to ensure that company finances are maintained in an effective, up to date and accurate manner, and manage payroll functions.

Accounts Receivable is a course that provides a comprehensive overview of the AR function. We will review topics such as credit, billing, cash, collections, and customer service.

Accounts Payable (AP) professionals are responsible for providing financial, administrative and accounting services in order to ensure effective, efficient and accurate financial and administrative operations. AP professionals perform day to day processing of financial transactions to ensure that company finances are maintained in an effective, up to date and accurate manner, and manage payroll functions.

Accounts Payable is a course that will discuss how to handle invoices; check processing; preventing errors; annual audits; and technology uses in the department. In addition, students will learn all about the best practices related to customer service, vendor management, check request, processing purchase orders.

After completing Accounts Receivables (AR), students will be equipped with a basic understanding of the following:

• What are AR professionals roles and responsibilities
• How to manage the credit approval process
• How to bill customers
• How to collect money
• How to implement quality customer service
• How to implement proper internal controls
• How to handle deduction issues
• How to deal with bankruptcy
• How to deal with legal considerations

After completing Accounts Payables (AP), students will be equipped with a basic understanding of the following:

• Identify and summarize the Accounts Payable Management job

• Handle invoices correctly and employ the necessary checks and balances

• Process checks correctly while employing the necessary checks and balances

• Prevent errors and common mistakes

• Provide good customer service, create internal controls, and prepare the department for the annual audit

• Detect and prevent fraud from vendors and employees

• Use technology in Accounts Payable to make the job more efficient

• Identify ways to use the Internet in Accounts Payable

• Summarize the processes involved in Master Vendor Files

• Avoid problems caused by discounts and other deductions

• How to handle independent consultants

• How to process 1099s

A basic understanding of math and spreadsheet is recommended.

 Students will be assigned 5 homework assignments, and 1 final exam. 

1. Order Processing
2. Credit Management
3. Billing
4. Cash Receipt, Cash Application
5. Collections
6. Internal Controls
7. Accounting, Records & Regulation
8. Accounts Payable Overview
9. The Vendor (Supplier)
10. Master File Invoice Processing
11. Employee Expense Reimbursement
12. Payments
13. Customer Service
14. AP Controls and Audit
15. Record Retention

 This course is Instructor-led and delivered through our award-winning online Learning Management System.