Courses

A badly completed requisition, an order raised after the invoice or a bank detail change that nobody checked: small errors in the purchasing cycle cost time and money, and sometimes open the door to fraud. This course takes you through the procure-to-pay cycle, from request to payment. You will create a complete requisition, with a cost centre, budget and the right approval under the delegation of authority, and tell planned purchases from urgent ones. You will convert the requisition into a valid purchase order, use catalogues and framework agreements, and manage confirmations and changes. You will record the receipt of goods and services and carry out the three-way match between order, receipt and invoice, handling discrepancies and tolerances in an Excel exercise. Finally, you will learn about the cycle's controls, such as segregation of duties and protecting the supplier master record, and the indicators that measure procure-to-pay performance. With an international perspective, fictitious companies and practical activities.

What you will learn

• By the end of the course, learners will be able to create a complete and correctly approved purchase requisition.
• By the end of the course, learners will be able to convert an approved requisition into a valid purchase order.
• By the end of the course, learners will be able to record receipt and match the order, receipt and invoice.
• By the end of the course, learners will be able to identify the cycle's controls and the procure-to-pay performance indicators.

Modules

1. From need to requisition37 min
2. From requisition to purchase order32 min
3. Receipt and three-way match33 min
4. Payment, control and improving P2P33 min

Who it is for

Requisitioners, purchasing, accounts payable