Procure To Pay - A Beginner'S Guide To End-To-End Process

Learn procure to pay in a structured manner. Simple but effective course to help you understand the end-to-end process

What you'll learn

Equip you with the most relevant information for Procure to Pay process and answers for interview questions

Prepare you for the next big role in Procure to Pay

You will have the competitive advantage over other potential candidates

Considered as a subject matter expert and become a valuable resource in Procure to Pay and accounts payable for any organization

Have a fair idea of the best practices in Procure to pay process

You will understand the importance of all critical internal controls and Sox controls in Procure to Pay process and become more control conscious

Downloadable resources - One PDF containing all interview questions and answers for offline reading

Requirements

No prior finance knowledge is required to understand this course.

It is in simple layman language and anyone can make use of this course

Description

This course covers the Procure to Pay process in a structured manner for every business - 3P MODEL ProcurementProcessingPaymentThis course offers 2 segments of learning - Online and offlineOnline - Videos explaining all the key aspects of procure to pay. Process overview, Vendor management, Procurement, Invoice processing, Documentation, Payment accounting, Controls, Payment modes, Month close reviews etc.Offline - Downloadable resources - ~ One PDF containing all interview questions and answers including scenario-based questions. ~ Another PDF containing relevant accounting Journal entries This course has information or questions and answers relevant for all stages of your career - beginner, mid-level or senior levels.This course is designed in a simple layman language and anyone who doesn't have prior knowledge also can understand the basic concepts and controls in accounts payable, to perform better in your current role and in job interviews as well.As a Finance leader who has been managing large teams, I am always involved in selecting the right candidates for the roles. This first-hand experience of the questions asked, and answers given during such interviews forms the basis of this course and the downloadable PDFOver the years, I have seen that the candidates are under prepared or do not provide answers in a confident manner. I felt the need to consolidate all the questions and answers which can act as a guide.Preparation guarantees performance and this course will be a useful refresher and reference point for any clarifications and for last minute preparation before you attend any accounts payable interviews.This course can also be used for induction training for Accounts payable team

Overview

Section 1: INTRODUCTION

Lecture 1 Introduction to Procure to Pay process

Lecture 2 Procure to Pay - High level overview

Section 2: 3P's - PROCUREMENT

Lecture 3 Requirement

Lecture 4 Purchase Requisition and Approval

Lecture 5 When do you place an Order with Vendor?

Lecture 6 Empanel new vendors

Lecture 7 Vendor Set-up

Lecture 8 Vendor Management

Lecture 9 Purchase Order and Approval

Lecture 10 Receipt of Goods or Services

Section 3: 3P's - PROCESSING

Lecture 11 Receipt of invoice pack

Lecture 12 Input Invoices into System - OCR Scanning

Lecture 13 Invoice reviews - Validation

Lecture 14 Invoice reviews - Supporting documents

Lecture 15 Invoice reviews - Disputes

Lecture 16 Invoice Approval

Section 4: 3P's - PAYMENT

Lecture 17 Approved value

Lecture 18 Payment Terms

Lecture 19 Payment Batch

Lecture 20 Bank Approvals

Lecture 21 Account Reconciliation

Section 5: MONTH CLOSE REVIEWS

Lecture 22 Important schedules to be reviewed

Section 6: ACCOUNTING ENTRIES

Lecture 23 Accounting Entries

Section 7: INTERNAL CONTROLS

Lecture 24 Internal Controls - Part 1

Lecture 25 Internal controls - Part 2

Section 8: TRAVEL EXPENSE - HIGH LEVEL OVERVIEW

Lecture 26 Travel Expense - High level overview

Section 9: Downloadable Resources

Lecture 27 Interview Questions and Answers

Anyone who wants to improve their knowledge in Procure to Pay process - Be it freshers, mid-level or senior level professionals,Anyone who is eager to move to the next level in the Procure to Pay process,Anyone who is preparing for a Procure to Pay job interview