'Procure to Pay' Overview
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'Procure to Pay' Overview

This course covers vendor master maintenance, creation of purchase orders, posting of goods receipts and more.
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.
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Last updated 7/2017
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  • 1.5 hours on-demand video
  • 2 Articles
  • 2 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Identify the components of the Procure to Pay work stream.
  • Identify the benefits of creating a Purchase Order (PO).
  • Explore the accounting transaction booked when a Goods Receipt is posted to a Purchase Order.
  • Recognize the pros and cons and differences between PO and Non PO invoices.
  • Explore the use of Purchasing Cards, printing a check, wire transfers and Automatic Clearing House payments.
View Curriculum
  • No advanced preparation or prerequisites are needed for this course.

Procurement to Payment can be a significant workflow in any business. For the workflow to work effectively, each team involved; Procurement; Sourcing and Purchasing, Receiving, Vendor Master, Accounts Payable and Payment Processing and Treasury should have an understanding of the entire flow. 

In this presentation, we will review the basics of Procurement. In most businesses, nothing can be ordered until a supplier has been set up in the Vendor Master Maintenance system. The words Sourcing and Purchasing may be interchangeable or have different meanings in your organization.

The receiving of goods and services and the Posting of Goods Receipts against Purchase Orders can be more critical in some businesses than the processing of invoices. Auditing of aged receipts will also be covered.

Return of product to a supplier also needs to be tracked in order to ensure recovery of funds or receipt of replacement product.  We will explore some options on how that can be done in your organization.

Although Accounts Payable is toward the end of the work stream, their role is no less critical.  They need to ensure costs are posted promptly and accurately, that payments are made timely and that vendor relations are not negatively impacted while complying with best business practices; Compliance Policies, Segregation of Duties, Delegation of Authority, tax liabilities and other business specific rules.

Who is the target audience?
  • Anyone in finance, accounting or related fields.
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Curriculum For This Course
9 Lectures
7 Lectures 01:35:10

Purchase Order

Receipt of Goods or Services

Receipt and Processing of Vendor Invoices

Payments and Conclusion

Procure to Pay Work Stream Continuous Play
Supporting Materials
2 Lectures 00:03
Slides: Procure to Pay Work Stream

Procure to Pay Work Stream Glossary/Index
Review and Test
0 Lectures 00:00

Review Questions: Procure to Pay Work Stream

Review Questions
3 questions

Final Exam: Procure to Pay Work Stream

Final Exam
5 questions
About the Instructor
Illumeo Learning
4.3 Average rating
75 Reviews
692 Students
175 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)
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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.