Effective Accounts Payable Documentation Management Policy
- 3.7
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Brief Introduction
This course identifies the steps to take when creating an Accounts Payable Documentation Policy.Description
Do you have a “Black Hole” within your Accounts Payable operation? You know, the place where invoices and related documentation go never to be found again?
Have you considered that Accounts Payable documentation is not just about the paper? Any details written on the documentation also need to be retained and can, at times, be even more critical than the document itself. That's why you should create a document management policy specifically for Accounts Payable.
Creating a policy on managing, storing and retaining documentation can be time-consuming but once created, and enforced, the amount of time spent on the tasks of approving and processing vendor invoices, addressing exceptions, or storing, retaining and pulling documents for research, audit or litigation will be greatly reduced.
Additional benefits include:
More timely posting of costs and liabilities
Payment to vendors per terms
Improved vendor relationships
Reduced frustration when accessing documents
This course identifies steps to be taken in creating such a policy and explores the points that should be included. Discussion also covers the inclusion of references to other policies applied by Accounts Payable and why they should be referenced in a Document Management Policy for Accounts Payable.
Finally, we touch on the subject of implementing software that would not only help you manage and retain the related documentation but could also help your company streamline related processing.
Requirements
- Requirements
- No advanced preparation or prerequisites are needed for this course.
Illumeo Learning
3.7 Raiting
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Effective Accounts Payable Documentation Management Policy
- 3.7
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This course identifies the steps to take when creating an Accounts Payable Documentation Policy. Do you have a “Black Hole” within your Accounts Payable operation?...
