Live Webinar

100-minute live streaming program
  • July 29
  • 1:00 - 2:40 pm EST

Also available as:

OnDemand Course

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

July 29

Learn how to transform the accounts payable function for your business.

You will get insights into special processing and circumstances along with restrictions. You will learn how to reduce payment errors and how to improve both manual and computerized processes. You will see what information is necessary along with qualifying vendors for inclusion in computerized system. Other topics include bankruptcy and cash flow management.

Learning Objectives

  • You will be able to identify special circumstances.
  • You will be able to discuss data entry the need to automate the process.
  • You will be able to explain how to set up pay dates and submission deadlines.
  • You will be able to review how to correctly enter vendors into the system.

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Why Lorman?

Over 38 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

Data Entry and the Need to Automate the Process
  • Manual vs. Scanning Invoices
  • Using Software to Manage the Process
  • Developing Templates to Eliminate Errors in Data Entry
  • Training of Staff
  • Coding the Invoices Correctly
  • Paying Invoices Correctly - Why Is It so Important?
Correctly Entering Vendors Into the System
  • Getting All the Required Information (W-9 Forms)
  • Contracts and Purchase Orders
  • Authorization Approvals, Blanket Purchase Orders
Allowing Vendors Access to Your Accounts Payable Systems
  • Prequalifying Vendors for Inclusion Into the System
  • Computer System Integrity
  • Double Checking Payment Terms and ACH Information
  • Limiting Access
Setting up Pay Dates and Submission Deadlines
  • Setting Policy to Pay Vendors, Only Accepting Vendors Who Can Comply
  • Setting Policy for Submission of Invoices, Timetable for Process
  • Outlining Payment Dates Based on Acceptance of Invoices and Approvals
Handling Special Circumstances: Limiting the Number Handled
  • Defining Special Circumstances and How to Handle
  • Process to Follow Regarding Emergency Processing, Timeframes and Outcomes
  • Limit on How Many Special Processing Requests Will Be Allowed per Vendor
  • Cashflow Issues, How to Prioritize Payments
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Why Lorman?

Over 38 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

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 2.0 including Accounting 2
     
  • Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

OnDemand Course

This course was last reviewed on July 3, 2024.

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

  • CPE/NASBA - QAS Self Study 2.8 including Accounting 2.8
     
  • Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     

Who should attend?

This live webinar is designed for accountants, CPAs, accounts payable professionals, bookkeepers, tax managers, CFOs, controllers, business managers and owners, presidents, vice presidents, CEOs, and auditors.

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Why Lorman?

Over 38 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

Robert E. Jacob, M.B.A., C.M.A., E.A.

Robert E. Jacob, M.B.A., C.M.A., E.A.

R.E.J.'s Accounting & Tax Service, Inc.

  • Principal of R.E.J.’s Accounting & Tax Service, Inc. serving more than 200 Business clients doing more than 500 1099’s annually and 1,000 individuals
  • Enrolled Agent and National Tax Practice Institute (NTPI) Fellow
  • Certified Management Accountant (C.M.A.)
  • Past President: of the Michigan Society of Enrolled Agents, Detroit and Michigan Institute of Management, Accountant National Board Member Institute of Management Accountants. (I.M.A.)
  • Worldwide Accounts Payable Liaison for Delphi Corporation during their bankruptcy
  • Assisted in transferring all accounts payable from General Motors Corporation to Delphi Corporation, Mexico for the Delphi Corporation. (At the time the largest bankrupt corporation in the world)
  • Member of Stuart Cameron Society, (honorary society of the I.M.A.) Life member Michigan State University Alumni Association, National Association of Enrolled Agents, Institute of Certified Management Accountants, Institute of Management Accountants
  • Can be contacted at 734-284-8833 or rjacob@rejaccounting.com
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Add to Wishlist

More Program Information

Why Lorman?

Over 38 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.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 410772
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