Course Description

The year-end tasks in accounts payable are critical to accurate financial statements for any organization. Yet, often, they are a last minute affair, and proper attention is not accorded the tasks. This course is designed to highlight the issues both directly related to the year-end close and present information the professional can use to implement a smoother close in accounts payable.  Industry expert Mary Schaeffer shows auditors, controllers, and managers where year-end problems are likely to occur, how to prevent those problems moving forward. She also offers some straightforward best-practice advice on how to run the close in accounts payable as smoothly as possible. 

Learning Objectives:

• Identify the tasks accounts payable needs to do to help the organization have an effective close
• Pinpoint problem areas in the close before they occur so the difficult issues can be addressed before difficulties occur
• Recognize how to resolve problems caused by discrepant invoices in a timely manner
• Identify how to address the open vendor credit issue in a way that improves the organization’s bottom line
• Understand how to create effective solutions to handle employees who submit expense reports long after their due date
• Identify how to provide a workable approach to dealing with managers who don’t approve subordinates’ expense reports in a timely manner
• Recognize how to create a document that will guide and track the accounts payable team through all its year-end tasks
• Identify which items must be included in year-end accruals completed in accounts payable
• Understand how to develop a best-practice approach to collecting all vendor tax information needed to issue Form 1099s in January
• Learn to build workable solutions to address common Form 1099 problems
• Pinpoint steps any organization can take to ensure a smoother close in accounts payable

Learning Objectives

• Please see the 'Course Description' for the learning objectives.

Prerequisites

• None