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

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.


Runtime: 109 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

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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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 10, 2017.

Call 1-866-352-9540 for further credit information.

  • AL CPE
     
  • This course is acceptable for 2.0 live credit hour(s) through the Alabama State Board of Public Accountancy.
     
  • GA CPE
     
  • This program is applicable for CPE credit. *The Georgia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IA CPE
     
  • This program is applicable for CPE credit. *The Iowa State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IN CPE
     
  • This program is applicable for self study CPE credit. *The Indiana State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • KY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Kentucky State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Massachusetts State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MD CPE
     
  • This course is not pre-approved for CPE credit in your state however, it is applicable. *Please check the rules and requirements in your state for compliance.
     
  • ME CPE
     
  • This Ondemand program is applicable for CPE credit. *The Maine State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MI CPE
     
  • This Ondemand program is applicable for CPE credit. *The Michigan State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MO CPE
     
  • This Ondemand program is applicable for CPE credit. *The Missouri State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MT CPE
     
  • This Ondemand program is applicable for CPE credit.* *The Montana State Board of Accountancy has final authority on the acceptance of individual courses and providers. Please check the rules and requirements for CPE compliance and calculate the amount of credit hours you can claim for self study courses.
     
  • ND CPE
     
  • This Ondemand program is applicable for CPE credit. *The North Dakota State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NH CPE
     
  • This Ondemand program is applicable for CPE credit. *The New Hampshire State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NV CPE
     
  • This Ondemand program is applicable for CPE credit.*The Nevada State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • OH CPE
     
  • This Ondemand program is applicable for CPE credit. *The Ohio State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • PA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Pennsylvania State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • TX CPE 2.0
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 2.0 hours of continuing professional education.
     
  • VA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Virginia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • WA CPE
     
  • This Ondemand program is applicable for CPE credit.* *Please check the rules and requirements in your state for compliance.
     
  • WY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Wyoming State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Dennis M. Najjar, CPA, CGMA

Dennis M. Najjar, CPA, CGMA

AccountingDepartment.com, LLC

  • Co-founder, AccountingDepartment.com, LLC
  • AccountingDepartment.com is the largest and most experienced outsourced bookkeeping and controller services company in the country; founded in 2004, AccountingDepartment.com serves as the entire accounting department for growing and established businesses nationwide; the 2016 Gold Stevie Award winner for Employer of the Year Accounting, AccountingDepartment.com is the gold standard in outsourced accounting services
  • Vistage speaker, focusing on educating business owners on how to establish accountability in their accounting departments through best practices, processes, procedures, and the integrated use of accounting technology
  • Founding author of the About.com Accounting Channel (now TheBalance.com - https://www.thebalance.com/accounting-4074054) and contributor to Vistage Financial Management blogs
  • In public accounting since 1982, he joined Coopers & Lybrand after graduating from Rutgers University; in 1986, he started the public accounting firm Dennis M. Najjar, CPA; his practice has an emphasis on tax planning and preparation for corporations, partnerships and individuals
  • Throughout his career, he has worked exclusively with small, medium and start-up businesses, giving him the knowledge and experience to oversee the AccountingDepartment.com team in helping clients with strategic business planning for future success and growth
  • Member AICPA, NJCPA, FICPA; also a member of Vistage
  • Can be contacted at 888-858-9919, [email protected] or on Twitter® @AccountingDept
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400602
Published 2017
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