Nigerian Seminars and Trainings

Search all upcoming seminars, conferences, short management courses and training in Nigeria and around the World

business logo

Mastering Financial Transaction Management: Advanced Voucher Control and Reporting

By: Newways Consulting

Lagos State, Nigeria

25 - 27 Jun, 2024  3 days

Follow Event

  

NGN 185,000

Get 5.00% off

Venue: Lagos

Other Dates

Venue Date Fee  
Lagos, Lagos State, Nigeria 10 - 12 Sep, 2024 NGN185000
Lagos, Lagos State, Nigeria 10 - 12 Dec, 2024 NGN185000

Payment voucher control and reporting refer to the processes and systems in place to manage and track financial transactions within an organization. Payment vouchers are documents that serve as evidence of a payment made by a company to its suppliers, vendors, or other parties. The control and reporting of these vouchers are essential for ensuring accuracy, transparency, and accountability in financial operations.

Effective payment voucher control involves several key elements. First and foremost, it requires a well-defined system for creating, documenting, and authorizing payment vouchers. This system typically includes guidelines and procedures that specify who can initiate, approve, and process payment vouchers, as well as any necessary supporting documentation.

To maintain control, organizations often implement internal controls and segregation of duties. These measures help prevent fraud, errors, and unauthorized payments. For instance, different individuals may be responsible for initiating vouchers, approving them, and making the actual payments, reducing the risk of fraudulent activity.

In addition to control, reporting plays a crucial role in payment voucher management. Regular and accurate reporting provides insights into the financial transactions, payment trends, and outstanding liabilities of the organization. Reports can include details such as the amount paid, payment date, payee information, purpose of payment, and any associated supporting documents.

Furthermore, payment voucher reporting assists in financial analysis, budgeting, and decision-making processes. It helps management identify patterns, control cash flow, assess vendor performance, and monitor expenses. The reports generated can be used to evaluate the efficiency and effectiveness of the payment process, enabling organizations to identify areas for improvement and cost-saving opportunities.

In conclusion

Please note that this is just a general introduction, and the specific details and requirements of payment voucher control and reporting may vary depending on the organization and its policies.

Course Overview:

This course provides a comprehensive understanding of payment voucher control and reporting processes within organizations. Participants will learn the fundamentals of establishing effective controls, maintaining accurate records, and generating informative reports to ensure transparency, accountability, and efficient financial operations.

Payment voucher control and reporting are vital components of financial management within organizations. By implementing proper control measures and generating comprehensive reports, companies can ensure the accuracy, integrity, and transparency of their payment transactions in all aspect like the assets and liability incurred, cash advance management etc while enabling effective financial decision-making.

Module 1: Introduction to Payment Voucher Control and Reporting

  • Understanding the importance of payment voucher control and reporting
  • Overview of the payment voucher lifecycle
  • Types of payment voucher.

Module 2: Cash Advance Management; Establishing Payment Voucher Control Systems

  • Cash advance management
  • Designing an effective payment voucher control framework for all
  • Segregation of duties and internal control measures
  • Documentation requirements and record-keeping best practices

Module 3: Payment Voucher Creation and Authorization

  • Procedures for initiating and preparing payment vouchers.
  • Verification and validation of payment requests
  • Approval processes and authorization controls
  • Handling exceptional cases and deviations

Module 4: Fraud Prevention and Detection

  • Identifying common fraud risks in payment voucher systems
  • Implementing fraud prevention measures
  • Conducting internal audits and reviews
  • Recognizing red flags and implementing fraud detection techniques

Module 5: Reporting and Analysis

  • Importance of payment voucher reporting
  • Types of reports and their purposes
  • Generating accurate and comprehensive payment voucher reports
  • Analyzing payment trends, outstanding liabilities, and vendor performance

Module 6: Improving Payment Voucher Control and Reporting

  • Assessing the effectiveness of existing control systems
  • Identifying areas for improvement and implementing best practices
  • Utilizing technology for enhanced control and reporting
  • Continuous monitoring and evaluation of control measures

Module 7: Legal and Compliance Considerations

  • Understanding relevant laws, regulations, and compliance requirements
  • Ensuring compliance in payment voucher control and reporting
  • Addressing issues related to data privacy and confidentiality.
  • Handling audits and external scrutiny

Module 8: Case Studies and Practical Exercises

  • Analyzing real-world payment voucher control and reporting scenarios
  • Solving practical challenges and exercises
  • Group discussions and knowledge sharing

Module 9: Best Practices and Future Trends

  • Exploring industry best practices in payment voucher control and reporting
  • Keeping up with emerging trends and technologies
  • Leveraging automation and digitalization for efficiency
  • Continuous learning and professional development opportunities

 

Lagos Jun 25 - 27 Jun, 2024
Lagos, Lagos State, Nigeria 10 - 12 Sep, 2024
Lagos, Lagos State, Nigeria 10 - 12 Dec, 2024
NGN 185,000.00(The program fees covers tuition, Course Materials, Tea/Coffee Break, Lunch, Bag, Certificate of participation and administration)
(Convert Currency)

Dr Chris Egbu +2348023194131

Organizations sponsoring two staff will get 10% discount, Three - Five will get 15% discount, Six - Ten will get 20% discount and Payment before two weeks to event date attracts 5% discount. You can also consider the option of having this training in-house or online at 40% discount and 5 free e-books
Newways Faculty

Related Courses

Creativity, Critical Thinking and Problem Solving Course Creativity, Critical Thinking and Problem Solving Course

3 days, 25 - 27 Jun, 2024 

2024-06-25 12:06:00 2024-06-25 12:06:00
Lagos State, Nigeria

Newways Consulting

We are continuously confronted with problems that require us to take decisions. Most decisions are reached without requiring any complex decision-making process: We’re hungry? We decide to eat. ...

Techniques for Implementing Anti-Money Laundering Schemes Course Techniques for Implementing Anti-Money Laundering Schemes Course

3 days, 16 - 18 Apr, 2024 

2024-04-16 12:04:00 2024-04-16 12:04:00
Lagos State, Nigeria

Newways Consulting

This course provides a comprehensive and practical analysis of Money Laundering schemes, Anti-Money Laundering legislation, and counter-measure techniques and implementation. Participants will learn ...

Corporate Office Administration, Record and Information Management Corporate Office Administration, Record and Information Management

3 days, 16 - 18 Apr, 2024 

2024-04-16 12:04:00 2024-04-16 12:04:00
Lagos State, Nigeria

Newways Consulting

Information is very vital resource in modern time. It forms the basis of making appropriate response to opportunities and threats in the environment. Records form a strategic component of information ...

Financial Management Masterclass Financial Management Masterclass

3 days, 02 - 04 Apr, 2024 

2024-04-02 12:04:00 2024-04-02 12:04:00
Lagos State, Nigeria

Newways Consulting

This course is designed to provide delegates with the tools to kick-start your firms’ financial performance by applying a number of techniques whereby firms can improve both their margins and ...