Accounts Payable Training

Accounts payable are short-term debts.

Accounts payable are short-term debts that a company must repay within 12 months. An accounts payable training program helps a participant learn about purchase ledgers and how to record purchases.

Purposes

An accounts payable training curriculum helps an attendee familiarize himself with accounting principles used in recording amounts due to vendors. He learns about debiting and crediting asset and liability accounts.

Method of Training

A participant can log into a secure website, select relevant courses and take a pass/fail exam at the end of the session. She also can attend a professional seminar or participate in a training session on corporate premises.

Training Topics

Accounts payable training topics vary by industry and location. For instance, a bookkeeper in the insurance industry may learn about financial accounting and reporting rules regarding claims payable in the short term and long term.

Expert Insight

An accounts payable training course supervisor may hire a specialist to explain a difficult topic. For instance, a course instructor at a bank may bring in a certified public accountant to explain credit risk management procedures and how they affect accounts payable amounts.

Benefits

A participant can take courses to improve his accounting skills or comply with continuing education criteria that a government regulator or industry group requires.

Misconceptions

To record amounts due to vendors, an accountant credits the vendor payables account and debits the purchases account. In accounting parlance, crediting a debt account, such as accounts payable, means increasing its amount.

References

• University of California: Accounts Payable
• Find Your Genius: Accounts Payable Training and Seminars