Accounts Payables, Reconciliations & Income Tax

Offered by: Lifa n Lúce Consultancy
Delivery Mode: In-person / Online / Blended
Target Audience: Accounts clerks, finance officers, bookkeepers, junior accountants, admin professionals involved in finance, and anyone responsible for processing payments or financial records.
Objective: To equip participants with the knowledge and practical skills to manage accounts payable, perform reconciliations accurately, and ensure compliance with income tax obligations and reporting.

• Introduction to the AP cycle

• Invoice verification, approvals, and processing

• Supplier master data management

• Payment scheduling, early payment discounts, and controls

• Preventing fraud and managing duplicate payments

• Understanding different types of reconciliations (bank, supplier, intercompany)

• Steps in preparing a reconciliation statement

• Matching transactions, resolving discrepancies, and journal adjustments

• Month-end and year-end reconciliation checklists

• Using Excel for reconciliation (with templates)

• Basics of personal and corporate income tax

• Understanding tax codes, thresholds, and deductions

• Withholding tax, VAT, and PAYE (Pay As You Earn)

• Income tax calculation examples (manual and spreadsheet-based)

• Filing obligations and deadlines (tailored to your country’s tax authority)

• Audit readiness: organizing supporting documents

• Internal controls for payables and tax compliance

• Recordkeeping and document retention policies

• Generating reports for tax authorities and management

• Common errors and how to avoid them

• Practical exercises using real-life financial documents

• Excel templates for AP tracking and reconciliations

• Sample tax calculation worksheets

• Certificate of Completion

• Optional: Post-training support or compliance checklist