212普華永道--財務(wù)管理最佳實踐之應(yīng)付管理

1、Best Practice Financial Processes: Accounts Payable,,,,,,,Accounts PayableObjectives,Organisation,,People,Processes,Controls,Measures,Information Systems,To maximise processing efficiencyTo ensure invoices are proces

2、sed to agreed termsTo ensure payments made only when due and payableTo ensure liabilities are fully recorded and distributed correctlyTo achieve effective balance between extending credit and maintaining good relation

3、s with suppliersTo take full advantage of opportunities to recover VAT,Centralised processingOutsourcing potential,Maintaining supplier detailsProcess vouchersProcess paymentsPeriod end processing and reporting,Auth

4、orisation rulesSystem access controlsUser proceduresValidation and matching rules,,,Speed of processing supplier amendments Invoices processedInvoice processing timeNumber of payments Period end closure time,,Inte

5、rface between Accounts Payable and other related processesShared employee and supplier detailsSystem validation and approval checks,Supplier relationsCreditor control,Accounts Payable - Best Practice Objectives,,,,,,,

6、Accounts Payable - Best practice features,Authorise and set up new suppliers payment detailsMaintain supplier payment detailsSegregation of duties between supplier set up, voucher processing and payment processing,Ac

7、counts payable process vouchers: invoices, expense claims, credit notes, debit memos and prepayment requestsSuppliers required to use PO number on all documents and three way match wherever possibleConsolidated perio

8、dic invoicing for high frequency suppliers,Process Features,Maintain supplier details,Process vouchers,Optimisation of early payment discounts Payment runs properly authorised,Process payments,All transactions complet

9、ed before period closedReconciliation of Accounts Payable activity and reconciliation with General Ledger control accountManagement reports run once period is finally closed,Period end processing and reporting,,,,A

10、ccounts Payable - Best practice features,Single supplier databaseSingle employee databaseAudit trail of changes to supplier payment details,Purchase invoices transacted via EDI with major suppliers wherever possible

11、Electronic validation and approval of invoicesAutomatic matching of invoice to order and goods received note (GRN) Interface with General Ledger, Purchasing, Fixed Assets and Project AccountingUse of workflow soft

12、ware to resolve queries and monitor process,System Features,Maintain supplier details,Process vouchers,Electronic paymentsDefault payment terms held on supplier file with manual override at P.O. and invoice Producti

13、on of forward payment entry schedules to aid cash flow managementInterface with General Ledger, Fixed Assets, Project Accounting and Cash ManagementFacility to suspend payments,Process payments,Integration with Gener

14、al Ledger minimises reconciliation adjustmentsTransaction processing prevented for closed periods,Period end processing and reporting,,,,Accounts Payable - Measures/Cost drivers,Number of invoices received per month

15、Number of suppliersNumber of different terms and conditionsComplexity of authorisation processProportion of invoices automatically matched with PO'sNumber of supplier queries Proportion of invoices received elec

16、tronically Proportion of payments made electronically,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Median,16 days,90 percentile,49 days,90 percentile,Median,10 percentile,Number of

17、purchase invoices per FTE per annum,15,000,7,000,3,000 or less,Cost per purchase invoice processed,,,,,,,,,10 percentile,Median,90 percentile,£2,£6,£17,10 percentile,6 days,Invoice processing time in days,

18、Cost drivers,Source: statistics taken from Benchmarking database 21 January 1997,Accounts Payable - Trends,From,To,,,Separate AP modulePayment by chequeManual matchingPerformed by finance department,Integrated syst

19、emsElectronic paymentOn-line matchingShared Service Centres or outsourced services,Accounts Payable - Critical Success Factors,These are a summary of the key business requirements, which must be met to achieve the

20、objectives.,Single supplier databaseStaff trained in AP process and have clear roles and responsibilitiesPayment terms defined and agreed with supplierEffective communication and feedback mechanisms in place to handle

21、 queriesEstablish and maintain good supplier relationsProcess in place for monitoring the status of invoices and payment schedulesAP calendar in place and communicated to staffAuthorisation levels and payment terms h

22、eld on the systemAutomated workflow to route documents to relevant personnel when problems need to be resolvedForward payment schedule to cashflow managementFlexible matching criteria,Accounts Payable - Appendix 1 : I

23、DEF Process Flow,The diagram below provides a key to the process diagrams used in this document.,Process / activity,Controls,,(i.e.,ProceduresStandardsRequirements for rework),Output,,(i.e.,InformationMaterial),Resour

24、ces,(i.e.,PeopleFunctionsIT systemsMachines),Input,(i.e.,InformationMaterial),,Accounts Payable - Level 0 Context Diagram,Accounts Payable - Level 1 Overview,,Accounts Payable - Notes Maintain Supplier Details,

25、Best Practice FeaturesShared supplier database with Purchasing. Purchasing responsible for approving suppliers (having made the required checks), agreeing terms and conditions and maintaining general and purchasing rela

26、ted supplier details on the database, including payment terms. Accounts Payable responsible for maintaining all payment related supplier data, such as bank details, payment method, payee name and address, payment contact

27、s. Shared employee database with Human Resources. Employee details are maintained by Human Resources, but sufficient details must be held and maintained by Accounts Payable, to allow payment of expenses. Employee detail

28、s required include payment method, bank details, remittance address, payee name and employee cost centre. Accounts Payable should not have access to other confidential employee data.One payment address for each vendor.

29、Where a vendor provides goods or services from a number of locations, the consolidation of the payment process not only reduces the number of payments necessary but also removes the potential need to reconcile a number o

30、f individual accounts.Centralise the vendor set-up capability in order to minimise the risk of unauthorised or duplicate vendors being set up more than once. From an audit point of view, the control over vendor set up i

31、s also viewed as a critical activity which needs to be tightly controlled.Changes to supplier details are processed expeditiously.If, the vendor is also a customer, details are consistent in both databases.,Accounts Pa

32、yable - Notes Maintain Supplier Details,Internal Control requirementsNew suppliers must be checked and approved by Purchasing in accordance with company policy. Similarly, Purchasing are responsible for processing an

33、y mergers, acquisitions or deletions. To enable efficient invoice payment processing and ensure segregation of duties, Accounts Payable are responsible for the maintenance of all payment related supplier data. In additio

34、n, authorisation for payments within Accounts Payable should be separate from the responsibility of maintaining supplier payment data and processing vouchers. Audit of changes to supplier payment details must be possible

35、.Key Performance IndicatorsTime taken to process supplier amendments.,Accounts Payable - Notes Process Payments,Best Practice FeaturesUse of electronic banking systems for payments, thus minimising the need for man

36、ual intervention in the process.Centralisation of the payment processing in order to minimise the risk of making duplicate payments.Payments made no sooner than the due date in order to maximise cash flow benefits.Fac

37、ility to suspend individual payments. The withholding of payment can be a powerful tool in ensuring that the vendor complies with any requirements asked of it.Avoid payments in cash. Apart from being costly to administ

38、er, the potential for fraud is greatly increased.,Accounts Payable - Notes Process Payments,Internal Control requirementsPayment processing needs to be tightly controlled and totally segregated from vendor set-up and

39、 invoice processing activities.Key Performance IndicatorsNumber of payments per FTE. Number of overdue payments. Number of payments made too early.,Accounts Payable - Notes Process Payments,Cost DriversThe follo

40、wing generate the costs for the processing of payments:-Number of payment runs.Number of manually prepared payments.Number of payment media (cheques, vouchers, diskettes, etc.).Number of foreign payments.Varied paym

41、ent terms.ReportsSummary of payments per run.Payments on hold.Reports on Key Performance Indicators.Overdue unpaid invoices,Accounts Payable - Notes Period end processing and reporting,Best Practice FeaturesAutom

42、atic process requiring little or no manual intervention. Posting to GL should be daily. This ensures GL data is up to date and also reduces the time taken for the period end posting as fewer records are being processed.

43、Internal Control requirementsThe basic requirement is to ensure that the data transmitted to the general ledger is complete and on time. There is a requirement to ensure that the information recorded in the general led

44、ger agrees with the output from accounts payable.Key Performance IndicatorsDelivery of information to general ledger on timeTimely delivery of end of period reportsCost DriversVolume of transactionsTime to close pe