Understanding Purchase Order (PO) Invoice Transactions
What you'll learn
- Recognize the difference between Purchase Order (PO) and Non-PO invoices.
- Explore the different types of Purchase Orders a Company may have.
- Discover the different invoice to PO matching methods.
- Identify the General Ledger accounts that are debited and credited when a PO invoice is processed.
Requirements
- Take the following courses:
- “A Deep Dive into the Responsibilities of Accounts Payable Operations.”
Description
The subject of Purchase Order (PO) invoices was covered at a high level in the course titled “A Deep Dive into The Responsibilities of Accounts Payable Operations.” This course covers the flow of PO invoices, from the time they are received by a Company to the point they are ready to be paid.
This course addresses the different types of Purchase Orders a Company may have as well as the different matching methods. Special attention is given to those areas more prone to mistakes. For examples, some inaccuracies can occur even before an Accounts Payable (AP) Processor is ready to enter the invoice into the system. We learn how to recognize them.
The accounting transactions posted when a PO invoice is processed is covered, including the posting of freight and taxes that may be billed on an invoice.
Who this course is for:
- Anyone interested in Accounting, Finance, or Bookkeeping.
Instructors
- 4.1 Instructor Rating
- 24,964 Reviews
- 78,810 Students
- 247 Courses
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.
- 4.5 Instructor Rating
- 527 Reviews
- 1,463 Students
- 9 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.