Course Details
Course

Procure to Pay Work Stream 1 CPE


Course Duration: 1 Hours
Course Rating:
Course Enrollments: 452 Enrolled
Mode of Delivery: On-Demand
Course Level: Intermediate
Study Area: Specialized Knowledge

In this presentation, we will review the basics of Procurement.  In most businesses, nothing can be ordered until a supplier has been set up in the Vendor Master Maintenance system. The words Sourcing and Purchasing may be interchangeable or have different meanings in your organization.

The receiving of goods and services and the Posting of Goods Receipts against Purchase Orders can be more critical in some businesses than the processing of invoices. Auditing of aged receipts will also be covered.

Return of product to a supplier also needs to be tracked in order to ensure recovery of funds or receipt of replacement product.  We will explore some options on how that can be done in your organization.

Although Accounts Payable is toward the end of the work stream, their role is no less critical.  They need to ensure costs are posted promptly and accurately, that payments are made timely and that vendor relations are not negatively impacted while complying with best business practices; Compliance Policies, Segregation of Duties, Delegation of Authority, tax liabilities and other business specific rules.

Prerequisites

No Advanced Preparation or Prerequisites are needed for this course. 

Learning Objective
  • Identify the components of the Procure to Pay work stream
  • Identify the benefits of creating a Purchase Order (PO)
  • Explore the accounting transaction booked when a Goods Receipt is posted to a Purchase Order
  • Recognize the pros and cons and differences between PO and Non PO invoices
  • Explore the use of Purchasing Cards, printing a check, wire transfers and Automatic Clearing House payments.

Last updated/reviewed: March 18, 2024

(152) Reviews

(112 rating)
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sharoncking

Lots of new information on big datas role with fraud detection.

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renee.neyman

Great text-based course. If you are looking for AI content relevant to finance and accounting, this is a good pick.

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rosie.herren

Great examples. I had no idea how cunning some folks could be on devising ways to scam the goverment, either as an employee, officer or contractor.

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charles.silio

Excellent, concise overview of goodwill impairment.

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un.cho

Contrary to my expectation that the course would cover real-life payroll materials, it mostly dealt with the basic accounting principle.

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ali.hasnat

It is a great course. However, needs to be updated as the statistics in Report to the Nations can vary at times.

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aeyoung.youn

happy to pass the exam at one time, Great and thanks you.

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nancy.mauer

This was great information to have and keep in mind for your daily activities.

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heidi.scott

Good overview of Goodwill and explanation of Goodwill impairment testing. Instructor was very knowledgeable about the topic and test was easy to understand.

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roy.singer

Great course I recommend this to everyone that wants to learn more about this topic

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bibiana.bernadez

THANK YOU!!!! The course has been very helpful. I knew the practice of AP, now I have the theory. I highly recommend this course.

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victor.rojas_rosales

Great Course and tells you how to deal with situations with difficult people

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dominick.pariano

What a fantastic course! This course was chock full of great tips and general ideas. Definitely a ton of "a ha" kind of moments and very helpful for those of us at the middle management level who would like to try to convince the Executive level that moving even at least to data mining would be helpful. Also, really appreciated the presenter's use of helpful visuals as well.

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ashleigh.guthrie

Good reminders and the delivery was excellent. Good to go back to the basics.

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angela.gourley

it was very intersting to have the contection to the case in Canada.

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julia.misaki

Good refresher course on how to use pivot tables. I like having a workbook to test with along with the lesson.

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karen.misaki

This text based course was very detailed and provided good examples of real world application

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lisa.hodges

I found the course to be very useful in understanding the different terminology that can be used across several departments.

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sreidmiller

Basic over view of P2P for those unfamiliar. Good course to understand the flow of the P2P cycle

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claudiar@yelp.com

This is a good Introduction to Treasury. goes over Risks

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craig_.murata

Good in depth components around AP. I found the KPI section helpful. There was some overlap in the modules but overall well done.

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mallory.butler

I'm just starting the course. I'm glad that I have some prior background or I may not have grasped the study material. The instructor gives great detail in a straightforward informative manner.

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agomes

This course provides a detailed overview of all the elements of a typical procure to pay process.

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jenine.warnkr

Excel files to perform examples are not attached.

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dena.dahlquist

Interesting class. The final exam comes more from the class than the handouts, would like to see all material in a hand out for reference after the class.

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kevin.murray

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.

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randy.leduc

This was a great course to introduce me to features of excel that I have never used to give me a great understanding of how they might be used in practical everyday applications of Excel.

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austin.crowe

David did good job explaining the basic uses of a Pivot Table and breaking things down in steps to make the process easy to understand. I'll use this knowledge in the future in creating Pivot Tables.

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linda.jacobs

Presenter is easy to listen to but, the course needs real world examples - not just reading tax brackets.

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joseph.ennis

Course was relevant and a good road map to live all aspects of your life.

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tsimkiss

Direct, easy to understand slides and notes make this a valuable course.

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joseph.mccann_2

Excellent course, very well organized and presented, with practical examples provided.

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robert.webb

This course would be much more effective if all of the files were provided and the student was able to follow along and complete each of the functions being taught.

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michael.fairchild

Slides should be prepared in advance, no slide materials to retain and or review, and the exam questions were very poorly worded relative to answer choices.

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monica.jolla

The class was presented in a perfect pace for my learning style. The slides are easy to follow and great for future reference.

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jennifer.o'neill

The course itself was great, but the exam had issues (unclear question wording, duplicate questions, answers considered wrong even though they exactly matched the definition given in the glossary, 79% grade when I got 19 out of 21 correct). The study guide provided was laid out as a syllabus with no helpful content.

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michelle.adams

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.

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dong_kyun.ryu

Very well explained the concept with proper examples. Helps a lot for the corporate cost analysis. Really enjoy the course and easy to follow on his explanation. Great lectures and I will take more of Erik's courses.

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nancy.abaigar

Very tricky and need thorough analysis of the final examination

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knagle4644@gmail.com

These courses helped me to understand and get a better overview of bookkeeping. I took financial accounting before these courses and this brought it all together.

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dhenderson

Very good overview of the procure to payment process.

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armin.dzehverovic

The questions on the final exam were very poorly worded.

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troy.jones

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!

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theodore.molinari

This course gave me so many strategies to improve my well-being. I hope I can utilize these strategies on a day-to-day basis and I look forward to benefitting from the results!

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sheryl.perry

been using pivot tables for years and still learned something new

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tammy.blackwell

strongly recommend this information to be delivered internally to "internal" customers.

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samantha.lemp

Thank you for including the example questions, I found them very helpful in understanding the course content.

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maria_.persaud

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.

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brian.meister

This course is a good overview of professional ethics for MD CPAs

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daine.carlsen

The material is structured in a systematic order, which makes it easy to follow.

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stephen.stutz

The information in this course is very helpful. It was very informative & makes you aware of how you protect your data, especially electronically.

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stephanie.tooke_1

This is a very good 101 accounting course, if you have never had any accounting before it may be a bit intimidating however it is a great overview.

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karla.kerce

I would have liked to had a worksheet for the examples.

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lisa.gorham

Great course and highly recommended in today's ever changing technology and fraud occurrences.

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angie.santoni

Enjoyed this course! Great insight into future dealings within companies.

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collin.engelhardt

Having a calculator to practice with, embedded in the course would be most helpful

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judith.neifert

This is a tough course. Lots of good information though and lots of examples.

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pamela.simpson

I would agree that the information provided was very good to know but just a lot to take in.

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roxanne.whittum

This was an informative primer on IT General Controls and was easy to understand.

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janice.knight

This was a good, high level overview of the procure to pay process.

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surovyzj

this course directly helped me in my own working capital analysis project for my company, and confirmed a lot of aspects of working capital I was already familiar with to confirm my analysis was on the right path.

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shannon.barrett

Solid overview of ERISA and its requirements. I got what I needed from the course.

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tonya.muszall

This course was great. It talked about the various types of culture, employee behaviors, how to recognize when culture needs a change, and how to implement it. Overall, I would recommend this course!

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kathrine.covell

A great overview of ethics if you are looking to refresh.

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caroline.simon-michel

Clear, well paced and enjoyable. It was a good review of key financial concepts with great story telling.

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allison.polys

Instructor really explains thoroughly & provides wonderful & helpful supporting documents & materials for afterwards. It still takes me forever to complete, but it is a well planned out & conducted online learning video.

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mabreu

Very comprehensive; great refresher course for me!

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dylan.weaver

This course is a very basic but important guide in setting goals

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katie.mckinney

Everyone involved or impacted by this process flow at a company should take this course. Really nice over view and in depth view of how this process should work!

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linda.yeager

not a fan of this course. too much story telling and all over the place, hard to follow. If youre looking for a new commentary then you'll love it.

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jwilson_1

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.

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terry.tockstein

I really thought this course was spot on, totally one hundred percent the truth. Everyone should take this course, it teaches you the art of problem solving conversations and how to become a better listener for sure.

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trina.bremerkamp

Good overview of mentor-mentee programs, benefits and relationships.

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sidney.williams

This course was very helpful. I learned some neat tricks and tips for inputting data.

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pabstdavid

Great class- one of the better ones! As someone who has a published book, I can attest to the importance of editing.

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alison.pritchard

Great course, thank you for passing along your excel knowledge. I enjoyed the short, but thorough courses on how to really utilize the workbook.

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christina.moore

Was able to gain information I have not used in Excel.

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greg.biedenstein

Great course. Very easy to follow. Great examples from the professor.

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karen.fischer

I wish I had taken a course like this 40 years ago! I really learned most of this through experience and a passion for knowledge, but it would have helped to have this road map at the start of my career. I have learned that self-confidence gained from competence, honesty, and compassion for others helps you be a leader. Always striving to do the best for the benefit of everyone will bring you success.

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rita.montano

Accounts Payable Specialists will get the most of of this course

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tamashina.wilson

This course was very informative, it helped me to have a better understanding of the procurement process, and liabilities.

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joel.vigil

Well presented course with good examples. Good discussion of different types of modifications and how to account for them.

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dianh.sarman-moschetti

Depending on the student's knowledge of Excel this may be a little basic. However, there are several little tricks to incorporate. This instructor performs a double presentation of the material, it is great if you are unfamiliar with what is being taught, it can be redundant if you are more knowledgeable about the subject; but as a general approach I feel it is helpful.

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stephanie.tooke

This is a great course and should be taken and put to action by all managers/upper-mgmt. A lot of times I hear the 'vision' but don't always see it implemented or followed

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jason.mccracken

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.

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karen.jones

The material was explained clearly, I was surprised how simple it was to understand the lesion. Anyone who processes accounts payable will benefit from this course.

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kevin_falini

I appreciate all of the practice. Lot's of problems help to develop proficiency at speed.

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rmcmullin

A video presentation would have been helpful to augment the paper.

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steven.whitehead

This was a good refresher course on financial statement basics.

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jennifer.hubbard

Great reference material. Would recommend to others.

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mary.oconnor

For ANYONE in an office environment, some very good topics are covered. The slides were presented well and were easy to follow

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jegerstrom

Great coverage of topical area. I enjoyed the approach and would make this part of every professional's annual CPE.

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marquis.huntsman

Great content! Lots of takeaways that can be applied immediately.

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robert.godfrey

It was great to review and/or learn anew these important topics.

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jan.broadwater

Excellent recap of the 5 steps of RR and solid examples of their application to learn from. Recommend this course to solidify understanding of concepts.

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adam.carter

Great, quick, and handy guide for finance managers to keep in mind regardless of role. First Illumeo PDF slide deck I've saved for the reminders.

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jennifer.patt

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.

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heather.mcglynn

I like Arlynne's execution. Her comparison to reality keep folks engaged.

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octavia.saunders

This class was very informative, I like how they gave detailed examples to have a better understanding.

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yxu

It would be beneficial to release the wrong answers for the final exam.

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lacy.jabbour

The speaker rushed while speaking and sounded like he was reading the whole time. Very boring. The slides didn't provide much detail at all which is not great for future reference.

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nusheen.qureshi

The content is very good, applicable, and hits on the key things every new manager should reflect on!

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jholiday

This instructor courses are always very helpful and are well thought out. I always look for her courses on-line as I always learn something new and interesting from her classes.

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dhaval.kadakia

Very good refresher! Must take it every few years. Very good coverage.

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carrie.england

Peaked my interest and will now look to delve further into ethics law. Interesting case study of IWK.

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gregory.timms

needs a transcript of lectures. Test questions have no relation to final test.

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matt.madison

I learned a ton in this class. It was thorough and entertaining.

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chris.hart1

Duplication of efforts noted in having two separate teams to setup vendors or add/edit vendors.

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hannah.quick

Organized and well discussed topics, easy to follow and understand.

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mary.smith

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.

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betty.parks

The answer spreadsheets were very helpful as a reference.

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nia

GREAT GREAT GREAT GREAT GREAT GREAT GREAT GREAT GREAT COURSE

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kyle.hilliard

Most engaging course I've taken on this site. Instructor does very well holding your attention and keeping it interesting.

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janinek

Good overview of financial forecasting methods. Would recommend for beginners.

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alysha.dean

It was very helpful that the presented walked the audience through specific scenarios to help calculate the currency values.

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jesse.buttrey

Great course. The instructor was very informative!

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cholm

This course is more of a thought generator than a how to.

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brian.coughlin

Very insightful. I'll keep an eye out for her other content.

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christin.madison

The course was short, simple and straight to the point.

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justinesoares

Course was very helpful. Quiz questions were not as aligned to Payroll accounting as they could have been.

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jyoti.purohit

The course explains the theory and basic concepts but would have been better if taken a practical case study and explain with all the accounting entries and how it will affect all the accounts.

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luke.etnier

very informational in a short amount of time. if you pause and work the examples with Blair, i think you can really learn a lot in a short amount of time.

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shane.strong

Case studies are very helpful for practical application of the standard.

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tammy.lorenz

It's a little look into the background of Accounts Payable. It was helpful to learn when liabilities is established.

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tom.winson

Good course on FCPA. Instructor has great delivery and made it interesting.

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nathan.palatchi

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.

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steve.seggerman

This course was very easy to follow and I gained greater insight on what type of leader I am.

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kim.loanzon

I felt like the final exam was too easy and the wrong answers were very obvious. Though it was good for me/my CPE credits, I don't think its an effective way to evaluate whether or not I understood the materials.

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laurence.gutcher

The presenter lacks tone and speaks far too slowly to remain engaged. The presenter also reads the slides, providing very little additional insight.

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gale.hensley

Very good overview, Excellent coarse if you are new to A/P.

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gina.kiefer

This course would be very helpful for entry level AP staff that have not worked with the P2P process.

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kirit.kapadia

Good insight in personalities and leadership. Excellent explanations of human behavior

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angelina.williams

Good course, working as accounts payable is always good to take this type of course.

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surepaul

would have loved more examples especially on how fair value assessment.

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mwana.mwakabonga_2

A very relevant course to a person moving into finance executive positions.

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antonio.crawford

The course is excellent, it adds a different perspective in the function of the CAE as part of the company.

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la'aundra.daniels

everything was very detailed yet simple to understand

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jesus.gonzalez

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.

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bell3179

Simply the best instructor I have found on Illumeo. Extremely thorough, technical and practical.

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kelly.buchanan

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

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gwen.clemings

Good course for insomniacs. Presenter was boring.

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abubacker.syed_abdul

Some more error rectification technique may be included in this course.

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jessica.flynn

As someone who does not have a background in AP, I think the wording on one of the last slides sums up this course well. AP is more than cutting a check! This course gives a perspective of the many things that an AP department should be responsible for.

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tatiana.meshkova

ok

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smatienzo

The training made me understand more of the client situation and effective ways to communicate with the customers. To address their disputes/queries efficiently.

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susan.kim

The class delivery was efficient and effective.

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todd.stanley

good review material

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hossam_elsherief

Excellent course

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joseph.allard

Great tips! Thank you!

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dawn.choate

I liked how he explained how the working capital ratios effected ACME to provide a real life scenario

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rgushue3

This course is worth checking out. Like most Excel programs, it covers some items that should have been learned through regular use but is lso shows some new approaches.

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donald.carpenter

Great information for someone looking to help their company develop an investment policy and manage the investment process.

Lesson Questions and Answers0 Questions

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Anne Wheeler
Owner of CS Process Flows - Consulting and Project Management
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INTRODUCTION and OVERVIEW

PROCURE TO PAY WORK STREAM

CONCLUSION

CONTINUOUS PLAY

SUPPORTING MATERIALS

REVIEW and TEST