213普华永道--财务管理最佳实践之应收管理
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普华永道-财务管理最佳实践之应收管理 (2)-精品文档
Process Features
Formal credit checks applied to all new customers within 24 hours using credit bureau Monitor credit status/terms on regular basis Customer account managers provided with up to date credit status Treasury policy set on late and prompt payments Authority levels clearly defined Credit policies defined and agreed Terms and conditions agreed with customers
Consolidated periodic invoicing for high frequency shipments Bank remittance notices issued with sales invoices to facilitate reconciliation Self billing invoices by high volume customers Consider outsourcing regular invoice/payment eg utilities Regular review of invoice queries and credit notes
Accounts Receivable Objectives
Customer relations Legal framework awareness Credit management
普华永道财务管理最佳实践之应收管理资料
System Features
Consolidated credit position for group of customers System provides online customer payment history and terms Use of workflow software to monitor process and help resolve queries Standard credit control reports
Payments received electronically where possible Automatic matching of payments to invoices On-line diary facility to monitor calls Automatic flagging and reporting of high risk accounts Automatic dunning letters issued within agreed trading terms Integrated systems to facilitate customer query handling Forecast cash receipts available for treasury purposes
Best Practice Financial Processes: Accounts Receivable
2
Account Receivable - Best Practice Objectives
Organisation
People
Centralised processing Economies of scale Customer focus
普华永道应收帐最佳实践流程
To provide complete forecast information to assist the management of short-term cash requirements
2
People
Customer relations Legal framework
awareness Credit management
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
Automatic reconciliation facilities between integrated SOP AR and GL systems
Integrated systems to facilitate customer query handling
Forecast cash receipts available for treasury purposes
System provides online customer payment history and terms
Use of workflow software to monitor process and help resolve queries
Standard credit control reports
On-line diary facility to monitor calls
2
People
Customer relations Legal framework
awareness Credit management
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
Automatic reconciliation facilities between integrated SOP AR and GL systems
Integrated systems to facilitate customer query handling
Forecast cash receipts available for treasury purposes
System provides online customer payment history and terms
Use of workflow software to monitor process and help resolve queries
Standard credit control reports
On-line diary facility to monitor calls
普华永道应收帐最佳实践流程
To provide complete forecast information to assist the management of short-term cash requirements
2
People
Customer relations Legal framework
awareness Credit management
On-line diary facility to monitor calls
Automatic flagging and reporting of high risk accounts
Automatic dunning letters issued within agreed trading terms
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
department
5
To
Integrated systems Electronic payment Common trading terms for all
customers Automatic matching Shared or outsourced services
PwC175c
eg utilities
Regular review of invoice queries and credit notes
2
People
Customer relations Legal framework
awareness Credit management
On-line diary facility to monitor calls
Automatic flagging and reporting of high risk accounts
Automatic dunning letters issued within agreed trading terms
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
department
5
To
Integrated systems Electronic payment Common trading terms for all
customers Automatic matching Shared or outsourced services
PwC175c
eg utilities
Regular review of invoice queries and credit notes
普华永道--财务管理最佳实践
business unit level
Fixed Assets Objectives
People
➢ Control focused ➢ Challenge asset requisition
proposals
Processes
➢ Maintain asset register ➢ Acquisitions and disposals ➢ Depreciation charge ➢ Verifying asset base ➢ Maintaining of valuation basis
➢ Ensure asset responsibility at BU level ➢ Identify asset usage
➢ Ensure BU responsibility for assets in their use and for disposal losses
➢ Depreciate at point of asset use
➢ Apply depreciation rules to asset classes
➢ Depreciation rates in management accounts in line with statutory rates
➢ Links asset depreciation to production and product costs/development
➢ Monitor asset maintenance charges
➢ Report on acquisitions and disposals on a monthly basis
➢ Apply insurance valuation to key assets
Fixed Assets Objectives
People
➢ Control focused ➢ Challenge asset requisition
proposals
Processes
➢ Maintain asset register ➢ Acquisitions and disposals ➢ Depreciation charge ➢ Verifying asset base ➢ Maintaining of valuation basis
➢ Ensure asset responsibility at BU level ➢ Identify asset usage
➢ Ensure BU responsibility for assets in their use and for disposal losses
➢ Depreciate at point of asset use
➢ Apply depreciation rules to asset classes
➢ Depreciation rates in management accounts in line with statutory rates
➢ Links asset depreciation to production and product costs/development
➢ Monitor asset maintenance charges
➢ Report on acquisitions and disposals on a monthly basis
➢ Apply insurance valuation to key assets
普华永道-财务管理最佳实践之应收管理-PPT精品文档19页
No order processed without valid customer PO reference
Consolidated periodic invoicing for high frequency shipments
Bank remittance notices issued with sales invoices to facilitate reconciliation
Automatic reconciliation facilities between integrated SOP AR and GL systems
Integrated systems to facilitate customer query handling
Forecast cash receipts available for treasury purposes
Measures
Cost per invoice Credit notes
percentage Cost per payment
received Days debt
outstanding
3
Accounts Receivable - Best Practice Features
Establish credit levels
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
Consolidated periodic invoicing for high frequency shipments
Bank remittance notices issued with sales invoices to facilitate reconciliation
Automatic reconciliation facilities between integrated SOP AR and GL systems
Integrated systems to facilitate customer query handling
Forecast cash receipts available for treasury purposes
Measures
Cost per invoice Credit notes
percentage Cost per payment
received Days debt
outstanding
3
Accounts Receivable - Best Practice Features
Establish credit levels
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
普华永道应收帐最佳实践流程
<1 day
1 day
4 days
10 percentile
Median
90 percentile
PwC175c
<£1 10 percentile
Median
£18 90 percentile
Cost drivers
Number of AR receipts Level of multiple receipts Use of direct debiting/standing orders Use of electric funds transfer Level of credit risk associated with customer base Variety in payment terms Degree of foreign currency receipts Level of credit notes
Authority levels clearly defined
Credit policies defined and agreed
Terms and conditions agreed with customers
Sales orders prepared using pricing database with pricing profiles for products and customers
Monitor credit status/terms on regular basis
Customer account managers provided with up to date credit status
Treasury policy set on late and prompt payments
普华永道应收帐最佳实践流程.
Processes
Establish credit levels Issue sales order Issue invoice Monitor credit Collect cash
Accounts Receivable
Objectives
To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
No order processed without valid customer PO reference
Consolidated periodic invoicing for high frequency shipments
Bank remittance notices issued with sales invoices to facilitate reconciliation
Multi currency invoices
Automatic commitment and accruals
Payments received electronically where possible
Automatic matching of payments to invoices
Common SOP and AR customer database
Invoices automatically generated from SOP and shipment data
Self billing invoices automatically matched to customer orders
Establish credit levels Issue sales order Issue invoice Monitor credit Collect cash
Accounts Receivable
Objectives
To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
No order processed without valid customer PO reference
Consolidated periodic invoicing for high frequency shipments
Bank remittance notices issued with sales invoices to facilitate reconciliation
Multi currency invoices
Automatic commitment and accruals
Payments received electronically where possible
Automatic matching of payments to invoices
Common SOP and AR customer database
Invoices automatically generated from SOP and shipment data
Self billing invoices automatically matched to customer orders
普华永道财务管理最佳实践之应收管理
➢ Automatic reconciliation facilities between integrated SOP AR and GL systems
➢ Integrated systems to facilitate customer query handling
➢ Forecast cash receipts available for treasury purposes
➢ System provides on-line customer payment history and terms
➢ Use of workflow software to monitor process and help resolve queries
➢ Standard credit control reports
➢ Establish credit levels ➢ Issue sales order ➢ Issue invoice ➢ Monitor credit ➢ Collect cash
Accounts Receivable
Objectives
➢ To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
Accounts Receivable - Trends
From
➢ Separate AR module ➢ Payment by cheque ➢ Complex/variable trading terms ➢ Manual matching ➢ Performed by Finance department
普华永道-财务管理最佳实践之应收管理
Customer account managers responsible for sales and cash collection
Constant monitoring of debtor days, daily collection, ageing of debt
Customer contact records maintained
Outsource cash collection where appropriate
Determine and report on credit targets
Monitor overdue debts and take action within agreed policy
To provide complete forecast information to assist the management of short-term cash requirements
2
People
Customer relations Legal framework
awareness Credit management
Authority levels clearly defined
Credit policies defined and agreed
Terms and conditions agreed with customers
Sales orders prepared using pricing database with pricing profiles for products and customers
Issue sales order
Issue invoice
Constant monitoring of debtor days, daily collection, ageing of debt
Customer contact records maintained
Outsource cash collection where appropriate
Determine and report on credit targets
Monitor overdue debts and take action within agreed policy
To provide complete forecast information to assist the management of short-term cash requirements
2
People
Customer relations Legal framework
awareness Credit management
Authority levels clearly defined
Credit policies defined and agreed
Terms and conditions agreed with customers
Sales orders prepared using pricing database with pricing profiles for products and customers
Issue sales order
Issue invoice
213普华永道--财务管理最佳实践之应收管理
On-line diary facility to monitor calls
Automatic flagging and reporting of high risk accounts
Automatic dunning letters issued within agreed trading terms
Processes
Establish credit levels Issue sales order Issue invoice Monitor credit Collect cash
Accounts Receivable
Objectives
To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
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
To manage credit risk efficiently without creating unnecessary delays in the sales cycle
To maintain a complete and accurate statement of outstanding debtors
Automatic flagging and reporting of high risk accounts
Automatic dunning letters issued within agreed trading terms
Processes
Establish credit levels Issue sales order Issue invoice Monitor credit Collect cash
Accounts Receivable
Objectives
To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
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
To manage credit risk efficiently without creating unnecessary delays in the sales cycle
To maintain a complete and accurate statement of outstanding debtors
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➢ Monitor credit status/terms on regular basis
➢ Customer account managers provided with up to date credit status
➢ Treasury policy set on late and prompt payments
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
➢ Authority levels clearly defined
➢ Credit policies defined and agreed
➢ Terms and conditions agreed with customers
➢ Sales orders prepared
➢ Consolidated periodic
Best Practice Financial Processes: Accounts Receivable
Account Receivable - Best Practice Objectives
Organisation
➢ Centralised processing ➢ Economies of scale ➢ Customer focus
Information Systems
➢ Integrated with sales system
➢ Automatic matching ➢ Electronic receipts
PwC175c
Controls
➢ Procedures manual ➢ Authorisation ➢ Validation/matching ➢ Credit control
➢ To provide complete forecast information to assist the management of short-term cash requirements
2
People
➢ Customer relations ➢ Legal framework awareness ➢ Credit management
Processes
➢ Establish credit levels ➢ Issue sales order ➢ Issue invoice ➢ Monitor credit ➢ Collect cash
Accounts Receivable
Objectives
➢ To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
Measures
➢ Cost per invoice ➢ Credit notes
percentage ➢ Cost per payment
received ➢ Days debt outstanding
3
Accounts Receivable - Best Practice Features
Establish credit levels
➢ To manage credit risk efficiently without creating unnecessary delays in the sales cycle
➢ To maintain a complete and accurate statement of outstanding debtors
➢ Credit insurance arrangements evaluated periodically
➢ Customer account managers responsible for sales and cash collection
➢ Constant monitoring of debtor days, daily collection, ageing of debt
issued with sales invoices
without valid customer PO to facilitate reconciliation
reference
➢ Self billing invoices by
➢ Delivery note acts as
high volume customers
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
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 colle
➢ Determine and report on credit targets
➢ Monitor overdue debts and take action within agreed policy
➢ Customer account managers provided with up to date credit status
➢ Treasury policy set on late and prompt payments
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
➢ Authority levels clearly defined
➢ Credit policies defined and agreed
➢ Terms and conditions agreed with customers
➢ Sales orders prepared
➢ Consolidated periodic
Best Practice Financial Processes: Accounts Receivable
Account Receivable - Best Practice Objectives
Organisation
➢ Centralised processing ➢ Economies of scale ➢ Customer focus
Information Systems
➢ Integrated with sales system
➢ Automatic matching ➢ Electronic receipts
PwC175c
Controls
➢ Procedures manual ➢ Authorisation ➢ Validation/matching ➢ Credit control
➢ To provide complete forecast information to assist the management of short-term cash requirements
2
People
➢ Customer relations ➢ Legal framework awareness ➢ Credit management
Processes
➢ Establish credit levels ➢ Issue sales order ➢ Issue invoice ➢ Monitor credit ➢ Collect cash
Accounts Receivable
Objectives
➢ To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
Measures
➢ Cost per invoice ➢ Credit notes
percentage ➢ Cost per payment
received ➢ Days debt outstanding
3
Accounts Receivable - Best Practice Features
Establish credit levels
➢ To manage credit risk efficiently without creating unnecessary delays in the sales cycle
➢ To maintain a complete and accurate statement of outstanding debtors
➢ Credit insurance arrangements evaluated periodically
➢ Customer account managers responsible for sales and cash collection
➢ Constant monitoring of debtor days, daily collection, ageing of debt
issued with sales invoices
without valid customer PO to facilitate reconciliation
reference
➢ Self billing invoices by
➢ Delivery note acts as
high volume customers
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
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 colle
➢ Determine and report on credit targets
➢ Monitor overdue debts and take action within agreed policy