Accounts Payable Recovery Audit
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Accounts Payable Recovery Audit

This course explores the benefits of an Accounts Payable Recovery Audit.
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
0 students enrolled
Last updated 7/2017
English
Curiosity Sale
Current price: $10 Original price: $50 Discount: 80% off
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Includes:
  • 1 hour on-demand video
  • 2 Articles
  • 2 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Explore what an Accounts Payable (AP) Recovery Audit is and recognize what can be covered.
  • Identify the benefits of having an Accounts Payable Recovery Audit.
  • Explore which teams need to be involved on the side of the company to have a successful audit.
  • Recognize what to consider in selecting an Accounts Payable Recovery Audit company.
  • Explore how such services are billed to the company looking for such an audit.
View Curriculum
Requirements
  • No advanced preparation or prerequisites are needed for this course.
Description

Most managers of Accounts Payable (AP) wince at the word “Audit” however there is one type of audit that can prove to be very beneficial to AP and the company as a whole: an Accounts Payable Recovery Audit.

An Accounts Payable Recovery Audit could uncover mistakes that were made previously, and then corrections can be made or procedures revised to prevent such errors from occurring again in the future.

Additionally, an Accounts Payable Recovery Audit can reveal vendor credit memos due to the company that were never received by Accounts Payable or uncover cash application errors made by vendors.

In this course, we explore the benefits of an Accounts Payable Recovery Audit.  We also identify the amount of effort required by the company’s Accounts Payable and Information Technology (IT) teams in order to maximize the amount to be recovered.  A successful recovery audit does take time.

As a reminder, Accounts Payable is not just about processing vendor invoices for payment.  We also touch on the benefits of having billed amounts compared to contracts, the accuracy of sales tax billed on invoices and discuss the audit of Purchasing Card transactions.

Finally, we explore what to look for when selecting an Accounts Payable Recovery Audit company and examine how the services are billed. It should be a relationship that fits in with your organization.  

Who is the target audience?
  • Anyone interested interested in Accounting, Finance, or related fields.
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Curriculum For This Course
11 Lectures
01:13:25
+
Introduction
9 Lectures 01:13:21



Selecting a Recovery Audit Firm
03:14

Details to be Supplied for Analysis
02:31

From Data Analysis to Recovery of Funds
06:03

From Data Analysis to Recovery of Funds (Continued)
07:32

Lessons Learned and Conclusion
06:53

Benefits of an Accounts Payable Recovery Audit Continuous Play
36:38
+
Supporting Materials
2 Lectures 00:03
Slides: Benefits of Accounts Payable Recovery Audit
00:01

Benefits of Accounts Payable Recovery Audit Glossary/Index
00:01
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Review and Test
0 Lectures 00:00

Review Questions: Benefits of An Accounts Payable Recovery Audit

Review Questions
3 questions

Final Exam: Benefits of An Accounts Payable Recovery Audit

Final Exam
5 questions
About the Instructor
Illumeo Learning
4.2 Average rating
67 Reviews
617 Students
165 Courses
Condensed and Efficient Courses for Busy Professionals

Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.

Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.

Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.

Anne Wheeler (Illumeo)
0.0 Average rating
0 Reviews
3 Students
8 Courses

I started CS Process Flows, LLC in April of 2016 after a 30+ year career working in various accounting areas. My career in accounts payable started when I was hired as a processor.  Then I worked my way through accounts receivable and general accounting before coming back to accounts payable as a manager.  The challenges presented in Accounts Payable and all of the exciting changes going on in this area over the last few years and into the future are my passion.

My experience includes building new AP operations, identiifying ineffecienies and  implementing solutions in existing teams and being involved with other areas of the Procure to Pay work stream.  I have success in establishing and strengthening relationships with team members within Procurement, IT, and other areas of finance when working on AP related projects and with management of outsourced delivery centers overseas. 

Needless to say, I have learned a lot and I want to share my knowledge with companies that may be just starting to explore some of the options now available. or simply what to improve their current operations.

My experience includes managing up to 25 AP staff members processing upwards of 30K invoices a month, so I am very aware of what it takes to manage transations. I have also managed the implementation of several different types of AP workflow systems over the years, a Concur Travel and Expense reporting system, different Corporate Card programs, including both Purchasing and T & E cards, and ACH payment programs.    My experience also includes a project to outsource check printing and the transition of 7 Tyco Business Units to an outsourced delivery center in India. 

I am an Accredited Payables Manager (APM). 

I hope by sharing what I have learned, I can help you.