This online course will prepare you for the Institute of Finance & Management's (IOFM) Accounts Payable Specialist (APS) certification. This associate-level certification focuses on intermediate financial operations skills.
Today's companies employ certified accounts payable professionals to ensure their expenses are accurately paid. With APS certification, you demonstrate your understanding of invoices, payments, T&E, Automation, and other key functions to potential employers. If you're new to the AP industry or plan to advance your career, the Accounts Payable Specialist course is for you.Instructor(s):
Pam Miller, Senior Trainer, IOFM, was the first candidate to earn AP certification as an Accredited Payables Manager (APM) with distinction. Her professional background includes 15 years as Director of AP at BMC Select. She is recognized in the accounts payable industry as an innovator and an early adopter of AP related technologies. Before working in AP, she spent six years in the IT industry, implementing point of sale software.
Judy Bicking, APM, is a Senior Trainer for IOFM and a 27-year veteran of Johnson & Johnson. She is a recognized pioneer and leader in Procure-to-Pay and Credit Management. After a career in AR and AP management, Judy leads the development and implementation of J&J's two Shared Service Centers, located in the U.S and Europe. These shared services handle over 2.5 million invoices across 200 decentralized companies.
- This course can be taken on either a PC or Mac.
- PC: Windows 8 or later.
- Mac: macOS 10.6 or later.
- Browser: The latest version of Google Chrome or Mozilla Firefox is preferred. Microsoft Edge and Safari are also compatible.
- Adobe Acrobat Reader.
- Software must be installed and fully operational before the course begins.
- Email capabilities and access to a personal email account.
Instructional Material Requirements:
The instructional materials required for this course are included in enrollment and will be available online.
- Mission and Vision
- The Role and Impact of Accounts Payable
- The Importance of Professionalism
- Overview of AP Business Models
- Accounting Terms
- Internal Controls
- Overview: What are Internal Controls and Why Do They Matter?
- Types of Internal Controls
- Internal Control Legislation and Best Practice
- Detective Controls/Audits
- Record Retention and Destruction
- Writing Complaint Internal Control Policies and Procedures
- Tax and Regulatory
- Blocked and Denied Parties
- Reporting Income
- Other Federal Regulations
- Tax on Purchases
- Value Added Tax (VAT), Goods and Services Tax (GST), Consumption Tax (CT)
- Unclaimed Property and Escheatment
- Financial Reporting
- Audit Record-Gathering
- Vendor Master File
- Vendor Master Files Basics
- Vendor Verification
- Duplicate Vendor Check
- Vendor Setup Conventions
- Setting Up Vendors
- Changes to the VMF
- Maintaining the Vendor File
- Automated Solutions and Vendor Portals
- Monitoring Vendor Performance
- Invoice Fundamentals
- Receiving and Prepping invoices
- Entering Invoices
- Invoice Matching and Approvals
- Other Invoice Types
- Paper Checks
- Electronic Payments
- Card Payments
- Petty Cash
- Payment Issues
- Discount Management
- Travel and Entertainment (T&E)
- Understanding T&E Policies and Regulations
- Travel Cards
- Policy Enforcement and Expense Auditing
- The Accountable Plan (U.S.)
- Technology and Automation
- Solution Types and Functions
- Overcoming Resistance to Change