普华永道财务管理最佳实践之应收管理
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➢ To provide complete forecast information to assist the management of short-term cash requirements
People
➢ Customer relations ➢ Legal framework awareness ➢ Credit management
213普华永道财务管理最佳 实践之应收管理
Account Receivable - Best Practice Objectives
Organisation
➢ Centralised processing ➢ Economies of scale ➢ Customer focus
Processes
eg utilities
➢ Regular review of invoice queries and credit notes
➢ Reconciliation of AR balances to GL control accounts on a regular basis
Monitor credit/ collect cash
frequency shipments
products and customers
➢ Bank remittance notices
➢ No order processed
issued with sal百度文库s invoices
without valid customer PO to facilitate reconciliation
➢ Terms and conditions agreed with customers
➢ Sales orders prepared
➢ Consolidated periodic
using pricing database
invoicing for high
with pricing profiles for
➢ Credit insurance arrangements evaluated periodically
➢ Customer account managers responsible for sales and cash collection
➢ Constant monitoring of debtor days, daily collection, ageing of debt
Measures
➢ Cost per invoice ➢ Credit notes
percentage ➢ Cost per payment
received ➢ Days debt outstanding
Accounts Receivable - Best Practice Features
Establish credit levels
➢ 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
➢ To manage credit risk efficiently without creating unnecessary delays in the sales cycle
➢ To maintain a complete and accurate statement of outstanding debtors
➢ Customer contact records maintained
➢ Outsource cash collection where appropriate
➢ Determine and report on credit targets
➢ Monitor overdue debts and take action within agreed policy
Information Systems
➢ Integrated with sales system
➢ Automatic matching ➢ Electronic receipts
Controls
➢ Procedures manual ➢ Authorisation ➢ Validation/matching ➢ Credit control
Accounts Receivable - Best Practice Features
Issue sales order
Issue invoice
Process Features
➢ Formal credit checks applied to all new customers within 24 hours using credit bureau
➢ Monitor credit status/terms on regular basis
reference
➢ Self billing invoices by
➢ Delivery note acts as
high volume customers
invoice for low-frequency
shippings
➢ Consider outsourcing
regular invoice/payment
➢ 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
People
➢ Customer relations ➢ Legal framework awareness ➢ Credit management
213普华永道财务管理最佳 实践之应收管理
Account Receivable - Best Practice Objectives
Organisation
➢ Centralised processing ➢ Economies of scale ➢ Customer focus
Processes
eg utilities
➢ Regular review of invoice queries and credit notes
➢ Reconciliation of AR balances to GL control accounts on a regular basis
Monitor credit/ collect cash
frequency shipments
products and customers
➢ Bank remittance notices
➢ No order processed
issued with sal百度文库s invoices
without valid customer PO to facilitate reconciliation
➢ Terms and conditions agreed with customers
➢ Sales orders prepared
➢ Consolidated periodic
using pricing database
invoicing for high
with pricing profiles for
➢ Credit insurance arrangements evaluated periodically
➢ Customer account managers responsible for sales and cash collection
➢ Constant monitoring of debtor days, daily collection, ageing of debt
Measures
➢ Cost per invoice ➢ Credit notes
percentage ➢ Cost per payment
received ➢ Days debt outstanding
Accounts Receivable - Best Practice Features
Establish credit levels
➢ 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
➢ To manage credit risk efficiently without creating unnecessary delays in the sales cycle
➢ To maintain a complete and accurate statement of outstanding debtors
➢ Customer contact records maintained
➢ Outsource cash collection where appropriate
➢ Determine and report on credit targets
➢ Monitor overdue debts and take action within agreed policy
Information Systems
➢ Integrated with sales system
➢ Automatic matching ➢ Electronic receipts
Controls
➢ Procedures manual ➢ Authorisation ➢ Validation/matching ➢ Credit control
Accounts Receivable - Best Practice Features
Issue sales order
Issue invoice
Process Features
➢ Formal credit checks applied to all new customers within 24 hours using credit bureau
➢ Monitor credit status/terms on regular basis
reference
➢ Self billing invoices by
➢ Delivery note acts as
high volume customers
invoice for low-frequency
shippings
➢ Consider outsourcing
regular invoice/payment
➢ 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