Account Payable Management is one of the most important roles of the management team in the company, especially executive management in the finance section.
Controlling cash payment is as important as controlling cash collection. Generally, the controlling of these sections is done by the expertise of the executive person in finance sections that gain from experience and qualifications.
Having a good system in managing accounting payable could ensure that the entity still has a good relationship with suppliers, better cash flow management, and especially managing fraud that could happen through account payable.
Probably, you have all of those things, but just in case you want to explore more from the right people who have a perfect method to manage account payable, the following is the list of best account payable books for you:
#4 Essentials of Accounts Payable:
Essentials of Accounts Payable is written by Mary S. Schaeffer, and the book has 271 pages. Not quite long, right? This Account Payable book got an excellent review from the customers who bought it on Amazon.
This book has excellent presentation and well introduction deep to very technical, but easy to understand. This book will guide you to expertise in Account Payable management sections.
The best quote from this book is
“A real-world approach, with great insights and practical wisdom on all aspects of the accounts payable process. Essentials of Accounts Payable provides accounts payable professionals with a framework for action in a rapidly changing environment.”
-Tom Nichols, Division Manager, Accounts Payable Operations, AT&T
I might not recommend you to buy the book if your intention is just what know the basics of account payable for your exam. But, if your purpose is to do deep research and make sure that the account payable function or department in your organization runs well, then this book is written for you.
The book is also written to help the executive responsible for oversight of the account payable function but does not have enough time to spare.
#3: 101 Best Practices for Accounts Payable:
Not a best-seller book, but you might want to see customer reviews. All of them just hit five stars, and I bought more books from this author. Mary S. Schaeffer also writes 101 Best Practices for Account Payable.
As said above, she devotes a lot of her time to study the best practice related to accounting payable.
The book lists down all 101 techniques and best practices that could help you, especially entrepreneurs, understand and manage account payable technically and gain better tricks to deal with the most difficult scenarios. It is one of the best trade account payable books ever written.
#2: Internal Control in Account Payable:
Are you going to set an account payable function in your organization? Internal Control in Account Payable is the best-selling book that can help you to set up strong internal control in account payable in the most efficient ways. The book combines all of the best practices and includes the experiences gain by the author along with research and well presentation.
The book will guide you to protect against fraud that could happen in the organization and provide you with a practical way to protect the bribe when dealing with government officers. The book’s presentation starts from the very beginning principle of account payable to complicate scenarios with the best solution.
#1: Fraud in Accounts Payable: How to Prevent It:
Fraud could happen everywhere in the entity. For example, the staff uses the working hours for personal benefit. The serious fraud mainly happens in the purchasing department and, yes, strongly connects with account payable. A good account payable management system and internal control could help to minimize fraud.
This book, Fraud in Accounts Payable: How to prevent it, list down all features of fraud that happened in the many organization and the possibility of fraud into the book with good presentation. Account Payable Book will help you a lot to get a better understanding of fraud that you might not know or face before.
The book is not just only list down the types of fraud that happened or could happen in the account payable function, but also provide the prevention guideline that you could use to minimize it.