Reconciling Aged Open Payables and Outstanding Checks
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Brief Introduction
This course covers the methods for determining what needs to be audited.Description
If a Vendor has not received payment for goods or services, it should be their responsibility to perform the work to collect the amounts due, right? Maybe, but what if the aged Open Payables amounts are Credit Memos representing amounts due to the Company? What if the amount of an Outstanding Check is an overpayment or was not due to the Vendor for many reasons?
In these cases, it is up to the Company to perform the research then take the necessary action. In this course, we cover methods for determining what needs to be audited. Research options and the order of these steps will also be addressed.
The benefit to the Company in performing this work? Potentially the recovery of funds due to the Company and/or corrections to costs and liabilities.
Requirements
- Requirements
- Review the Glossary of Terms available in the Supporting Materials section of the Course Overview.
- Take the following courses: A Deep Dive into Accounts Payable Operations, The Payment Process.
Reconciling Aged Open Payables and Outstanding Checks
- 0.0
-
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![]()
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This course covers the methods for determining what needs to be audited. In these cases, it is up to the Company to perform the research then take the necessary action....
