212普华永道--财务管理最佳实践之应付管理

Invoice processing time in days
6 days
16 days
49 days
10 percentile
Median
90 percentile
PwC175b(1)
5
Cost per purchase invoice processed £6
£2
10 percentile Median
Period end processing and reporting
➢ Single supplier database
➢ Single employee database
➢ Audit trail of changes to supplier payment details
System Features
➢ System validation and approval checks
PwC175b(1)
Controls
➢ Authorisation rules ➢ System access controls ➢ User procedures ➢ Validation and matching
rules
➢ Consolidated periodic invoicing for high frequency suppliers
➢ All transactions completed before period closed
➢ Reconciliation of Accounts Payable activity and reconciliation with General Ledger control account
PwC175b(1)
Accounts Payable - Measures/Cost drivers
Number of purchase invoices per FTE per annum
15,000
7,000
3,000 or less
90 percentile
Median
10 percentile
➢ Purchase invoices transacted via EDI with major suppliers wherever possible
➢ Electronic validation and approval of invoices
➢ Electronic payments
➢ Default payment terms held on supplier file with manual override at P.O. and invoice
Best Practice Financial Processes: Accounts Payable
Accounts Payable - Best Practice Objectives
Organisation
2
People
➢ Centralised processing ➢ Outsourcing potential
payable ➢ To ensure liabilities are fully recorded and
distributed correctly ➢ To achieve effective balance between extending
credit and maintaining good relations with suppliers ➢ To take full advantage of opportunities to recover VAT
Measures
➢ Speed of processing supplier amendments
➢ Invoices processed ➢ Invoice processing
time ➢ Number of payments ➢ Period end closure
time
3
Accounts Payable - Best practice features
resolved ➢ Forward payment schedule to cashflow management ➢ Flexible matching criteria
PwC175b(1)
8
Accounts Payable - Appendix 1 : IDEF Process Flow
The diagram below provides a key to the process diagrams used in this document.
Input
(i.e. ➢ Information ➢ Material)
Controls (i.e. ➢ Procedures ➢ Standards ➢ Requirements for rework)
Process / activity
➢ Automatic matching of invoice to order and goods received note (GRN)
➢ Interface with General Ledger, Purchasing, Fixed Assets and Project Accounting
➢ Management reports run once period is finally closed
PwC175b(1)
4
Accounts Payable - Best practice features
Maintain supplier details
Process vouchers
Process payments
6
To
➢ Integrated systems ➢ Electronic payment ➢ On-line matching ➢ Shared Service Centres or
outsourced services
PwC175b(1)
7
Accounts Payable - Critical Success Factors These are a summary of the key business requirements, which must be met to achieve the objectives.
➢ Single supplier database ➢ Staff trained in AP process and have clear roles and responsibilities ➢ Payment terms defined and agreed with supplier ➢ Effective communication and feedback mechanisms in place to handle queries ➢ Establish and maintain good supplier relations ➢ Process in place for monitoring the status of invoices and payment schedules ➢ AP calendar in place and communicated to staff ➢ Authorisation levels and payment terms held on the system ➢ Automated workflow to route documents to relevant personnel when problems need to be
Processes
➢ Maintaining supplier details
➢ Process vouchers ➢ Process payments ➢ Period end processing
and reporting
Accounts Payable
Objectives
➢ To maximise processing efficiency ➢ To ensure invoices are processed to agreed terms ➢ To ensure payments made only when due and
£17 90 percentile
Cost drivers
➢ Number of invoices received per month ➢ Number of suppliers ➢ Number of different terms and conditions ➢ Complexity of authorisation process ➢ Proportion of invoices automatically matched with PO's ➢ Number of supplier queries ➢ Proportion of invoices received electronically ➢ Proportion of payments made electronically
➢ Segregation of duties between supplier set up, voucher processing and payment processing
Process Featur源自文库s
➢ Accounts payable process vouchers: invoices, expense claims, credit notes, debit memos and prepayment requests
➢ Use of workflow software to resolve queries and monitor process
➢ Production of forward payment entry schedules to aid cash flow management
➢ Interface with General Ledger, Fixed Assets, Project Accounting and Cash Management
➢ Facility to suspend payments
➢ Integration with General Ledger minimises reconciliation adjustments
➢ Transaction processing prevented for closed periods
Maintain supplier details
Process vouchers
Process payments
Period end processing and reporting
➢ Authorise and set up new suppliers payment details
➢ Maintain supplier payment details
➢ Supplier relations ➢ Creditor control
Information Systems
➢ Interface between Accounts Payable and other related processes
➢ Shared employee and supplier details
➢ Suppliers required to use PO number on all documents and three way match wherever possible
➢ Optimisation of early payment discounts
➢ Payment runs properly authorised
Source: statistics taken from Benchmarking database 21 January 2019
Accounts Payable - Trends
From
➢ Separate AP module ➢ Payment by cheque ➢ Manual matching ➢ Performed by finance department