Accounts Payable电子教案

payable ➢ To ensure lstributed correctly ➢ To achieve effective balance between extending
credit and maintaining good relations with suppliers ➢ To take full advantage of opportunities to recover VAT
➢ Segregation of duties between supplier set up, voucher processing and payment processing
Process Features
➢ Accounts payable process vouchers: invoices, expense claims, credit notes, debit memos and prepayment requests
➢ 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
Measures
➢ Speed of processing supplier amendments
➢ Invoices processed ➢ Invoice processing
time ➢ Number of payments ➢ Period end closure
time
3
Accounts Payable - Best practice features
➢ Suppliers required to use PO number on all documents and three way match wherever possible
➢ Optimisation of early payment discounts
➢ Payment runs properly authorised
Cost per purchase invoice processed £6
£2
10 percentile Median
£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
15,000
7,000
3,000 or less
90 percentile
Median
10 percentile
Invoice processing time in days
6 days
16 days
49 days
10 percentile
Median
90 percentile
PwC175b(1)
5
➢ Supplier relations ➢ Creditor control
Information Systems
➢ Interface between Accounts Payable and other related processes
➢ Shared employee and supplier details
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
Best Practice Financial Processes: Accounts Payable
Accounts Payable - Best Practice Objectives
Organisation
2
People
➢ Centralised processing ➢ Outsourcing potential
➢ Management reports run once period is finally closed
PwC175b(1)
4
PwC175b(1)
Accounts Payable - Measures/Cost drivers
Number of purchase invoices per FTE per annum
Maintain supplier details
Process vouchers
Process payments
Period end processing and reporting
➢ Authorise and set up new suppliers payment details
➢ Maintain supplier payment details