Do you have a “Black Hole” within your Accounts Payable operation? You know, the place where invoices and related documentation go never to be found again?
Have you considered that Accounts Payable documentation is not just about the paper? Any details written on the documentation also need to be retained and can, at times, be even more critical than the document itself. That's why you should create a document management policy specifically for Accounts Payable.
Creating a policy on managing, storing and retaining documentation can be time-consuming but once created, and enforced, the amount of time spent on the tasks of approving and processing vendor invoices, addressing exceptions, or storing, retaining and pulling documents for research, audit or litigation will be greatly reduced.
Additional benefits include:
- More timely posting of costs and liabilities
- Payment to vendors per terms
- Improved vendor relationships
- Reduced frustration when accessing documents
This course identifies steps to be taken in creating such a policy and explores the points that should be included. Discussion also covers the inclusion of references to other policies applied by Accounts Payable and why they should be referenced in a Document Management Policy for Accounts Payable.
Finally, we touch on the subject of implementing software that would not only help you manage and retain the related documentation but could also help your company streamline related processing.
Prerequisites
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the course "A Deep Dive into the Responsibilities of Accounts Payable Operations" prior to completing this one.
Learning Objective
- Identify suggested steps to be taken when creating an Accounts Payable Documentation Management policy.
- Discover categories and subjects that should be included in such a policy
- Explore the inclusion or reference to other policies policed by Accounts Payable
- Define software tools that can automate the document management requirements
Last updated/reviewed: March 13, 2024
(70) Reviews
(43 rating)The importance of Ethical behavior of the leadership is explained well.
I would have liked a video with an explanation with examples. Also, I don't see an explanation of how an applicant is defined. Otherwise a helpful course.
Very interesting course! The instructor kept the discussion interesting with personal experiences.
This is a great course. Easy to understand, clear and concise. I recommend it for anyone looking to better understand the controls in the order entry process.
Good instructor and very informative. Gives a good overview of what should be considered.
THANK YOU!!!! The course has been very helpful. I knew the practice of AP, now I have the theory. I highly recommend this course.
The test questions were hard to reconcile with the videos. I really struggled with this exam.
Good reminders and the delivery was excellent. Good to go back to the basics.
Enjoyed the slides and glossary, although there are some typo's in both files.
I like the short videos or the option to watch it as a whole
The course covers a significant amount of material that is often uncommon such as disposal of divisions and going concern treatments. It's well done and interesting.
Liked the course. Questions on specific states laws in the quiz were a bit confusing.
The class was presented in a perfect pace for my learning style. The slides are easy to follow and great for future reference.
Enjoyed the instructors enthusiasm of the subject. However, this is a technical course and the materials (PDF) were not helpful in providing a take away for what was taught.
Very tricky and need thorough analysis of the final examination
A recent volunteer position has me dealing with a large amount of data downloads, and this course has so many good points on dealing with the various situations that I am already struggling to correct. (effective instructor...missing the training file that he typically includes) That is the only reason for my less than perfect scoring and seems to be a platform issue.
The questions on the final exam were very poorly worded.
This has been the perfect course for an individual who potentially will use these AP skills. I highly recommend anyone working within financial services to obtain these certs!
This course provides lots of great information for the bitcoin/blockchain novice.
Wanted a bit more information of why when C and S crop are selected, they are not 1099 eligible, even if under the LLC option, C and S are selected the same rules apply.
Question 4 and Question 6 on the final exam are the same.
The material is structured in a systematic order, which makes it easy to follow.
The instructor provided very helpful information. He is very clear and easy to follow. The samples are practical.
Great course with clear and detailed breakdowns of the course material. Well worth the time.
Having a calculator to practice with, embedded in the course would be most helpful
This is a good tool to improve AP processes and performance in any company, I already did a list of KPIs that i need to collect in order to imporve my performance.
This was a very detailed course and a good refresher of the responsibilities and types of controls businesses should have.
Your courses have all been so wonderful, so informational, and so thorough--in short, greatly appreciated by me! Thank you for sharing your expertise, your wealth of knowledge, your inclusion of examples! I have greatly enjoyed reading and listening to all of your lectures thus far.
I like the Mentor's sense of humor. He kept the "28 videos" moving fast enough to be interesting. Also, I appreciated the discussion of US and Canadian standards. Thank you, Blair! P.S. Yes, advertising DOES work.
Good overview of mentor-mentee programs, benefits and relationships.
This course was very helpful. I learned some neat tricks and tips for inputting data.
Great course, thank you for passing along your excel knowledge. I enjoyed the short, but thorough courses on how to really utilize the workbook.
The information in this course is so helpful and applicable to my day job as a school accountant.
This course on automation for accounts payable specialists gives an insight to what these types of resources provide. It can help to reduce risk and increase efficiency.
Great reference material. Would recommend to others.
For ANYONE in an office environment, some very good topics are covered. The slides were presented well and were easy to follow
Overall a good course. I didn't agree with every recommendation but it was a different view point that was worth hearing. Easy to follow and the information stuck. Hope to take away a few nuggets and apply to the "difficult" people I have in my life.
I liked the concept of KPIs for the team, I will need to incorporate this into our process.
This was both relatable and informative. Definitely worth the time.
could be the best course I've taken specific to my job
Currently leading a project that is changing the day to day workflow of AP, this lesson was perfect timing in my career. Thank you!
Peaked my interest and will now look to delve further into ethics law. Interesting case study of IWK.
Excellent way of presenting the course in an effective way
Duplication of efforts noted in having two separate teams to setup vendors or add/edit vendors.
The course is very good. It has enhanced my ability to write the policy and procedures for the department. Thank you
Good knowledge about Accounts Payable. It is really very deep knowledge about relationship between Vendor and Accounts Payable Team.
I'm not a technology person, so though I understand the steps I would like to have automated, I don't understand all of the IT related stuff involved. So I wish the slides were a little less crytic and held more detail.
GREAT GREAT GREAT GREAT GREAT GREAT GREAT GREAT GREAT COURSE
Very insightful. I'll keep an eye out for her other content.
The course was informative on creating workflow solutions and understanding the field.
Course review is positive! Appreciate the overall format!
The format and design of the course made the learning process easy to understand. I was especially impressed with the depth of terminology laid out under the glossary of terms listed in the 2nd PDF. Overall, a course I would highly recommend to fellow accounting members.
This course was very easy to follow and I gained greater insight on what type of leader I am.
GREAT synopsis for documenting internal controls. This course really refreshed some points that I am pursuing in my organization.
Great material, effectively presented and well organized.
Good insight in personalities and leadership. Excellent explanations of human behavior
The lectures are so much direct that anyone even not in accounting area can easily understand. So informative that you can use if you are about to start your own business. You can easily follow the instructions . I will highly recommend this course. You will learn in every minutes spend .
The course is excellent, it adds a different perspective in the function of the CAE as part of the company.
I liked that I learned more about credit memos, non-po's. New employees changing to an accounting payables position will get the most from this course by the videos.
I really enjoyed this course. You make it fun and there was a couple of times I even laughed out loud. You kept my attention the entire time. Thank you
Great Course
I like that these are actually recorded webinars and not just reading material.
Some more error rectification technique may be included in this course.
ok
Well-rounded coverage of ethics.
good review material
What about online identity theft companies? What do they do and are there worth the money? What are the steps to take if you have your identity stolen?
Great refresher course without too much unnecessary info.
Excellent course
Test questions were not captured in the presentation materials.
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