普华永道--财务管理最佳实践之应收管理共19页

using pricing database
invoicing for high
with pricing profiles for
frequency shipments
products and customers
➢ Bank remittance notices
➢ No order processed
➢ Customer contact records maintained
➢ Outsource cash collection where appropriate
➢ Determine and report on credit targets
➢ Monitor overdue debts and take action within agreed policy
Measures
➢ Cost per invoice ➢ Credit notes
percentage ➢ Cost per payment
received ➢ Days debt outstanding
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Accounts Receivable - Best Practice Features
Establish credit levels
Accounts Receivable
Objectives
➢ To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
Account Receivable - Best Practice Objectives
Organisation
➢ Centralised processing ➢ Economies of scale ➢ Customer focus
Processes
➢ Establish credit levels ➢ Issue sales order ➢ Issue invoice ➢ Monitor credit ➢ Collect cash
invoice for low-frequency
shippings
➢ Consider outsourcing
regular invoice/payment
eg utilities
➢ Regular review of invoice queries and credit notes
➢ Reconciliation of AR balances to GL control accounts on a regular basis
➢ To manage credit risk efficiently without creating unnecessary delays in the sales cycle
➢ To maintain a complete and accurate statement of outstanding debtors
➢ To provide complete forecast information to assist the management of short-term cash requirements
1
People
➢ Customer relations ➢ Legal framework awareness ➢ Credit management
➢ Monitor credit status/terms on regular basis
➢ Customer account managers prFra Baidu bibliotekvided with up to date credit status
➢ Treasury policy set on late and prompt payments
PwC175c
Accounts Receivable - Best Practice Features
➢ Authority levels clearly defined
➢ Credit policies defined and agreed
➢ Terms and conditions agreed with customers
➢ Sales orders prepared
➢ Consolidated periodic
Issue sales order
Issue invoice
Monitor credit/ collect cash
Process Features
➢ Formal credit checks applied to all new customers within 24 hours using credit bureau
issued with sales invoices
without valid customer PO to facilitate reconciliation
reference
➢ Self billing invoices by
➢ Delivery note acts as
high volume customers
Information Systems
➢ Integrated with sales system
➢ Automatic matching ➢ Electronic receipts
PwC175c
Controls
➢ Procedures manual ➢ Authorisation ➢ Validation/matching ➢ Credit control
➢ Credit insurance arrangements evaluated periodically
➢ Customer account managers responsible for sales and cash collection
➢ Constant monitoring of debtor days, daily collection, ageing of debt