全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件

1、全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Best Practice Financial Processes: Accounts Payable全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts PayableObjectivesOrganisationOrganisationPeoplePeopleProcessesProcessesControlsControlsMeasuresMeasuresInformation SystemsInformation SystemsTo maximise processing efficiencyTo ensure invoices

2、 are processed 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 relations with suppliersTo take full advantage of opportunities to recover VATCe

3、ntralised processingOutsourcing potentialMaintaining supplier detailsProcess vouchersProcess paymentsPeriod end processing and reportingAuthorisation rulesSystem access controlsUser proceduresValidation and matching rulesSpeed of processing supplier amendments Invoices processedInvoice processing ti

4、meNumber of payments Period end closure timeInterface between Accounts Payable and other related processesShared employee and supplier detailsSystem validation and approval checksSupplier relationsCreditor controlAccounts Payable - Best Practice Objectives全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - B

5、est practice featuresAuthorise and set up new suppliers payment detailsMaintain supplier payment detailsSegregation of duties between supplier set up, voucher processing and payment processingAccounts payable process vouchers: invoices, expense claims, credit notes, debit memos and prepayment reques

6、tsSuppliers required to use PO number on all documents and three way match wherever possibleConsolidated periodic invoicing for high frequency suppliersProcess FeaturesProcess FeaturesMaintain supplier Maintain supplier detailsdetailsProcess vouchersProcess vouchersOptimisation of early payment disc

7、ounts Payment runs properly authorisedProcess paymentsProcess paymentsAll transactions completed before period closedReconciliation of Accounts Payable activity and reconciliation with General Ledger control accountManagement reports run once period is finally closedPeriod end Period end processing

8、processing and reportingand reporting全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Best practice featuresSingle supplier databaseSingle employee databaseAudit trail of changes to supplier payment detailsPurchase invoices transacted via EDI with major suppliers wherever possibleElectronic validation and

9、 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 software to resolve queries and monitor processSystem FeaturesSystem FeaturesMaintain supplier Maintain supplier det

10、ailsdetailsProcess vouchersProcess vouchersElectronic paymentsDefault payment terms held on supplier manual override at P.O. and invoice Production of forward payment entry schedules to aid cash flow managementInterface with General Ledger, Fixed Assets, Project Accounting and Cash ManagementFacilit

11、y to suspend paymentsProcess paymentsProcess paymentsIntegration with General Ledger minimises reconciliation adjustmentsTransaction processing prevented for closed periodsPeriod end Period end processing processing and reportingand reporting全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Measures/Cost d

12、riversNumber of invoices received per monthNumber of suppliersNumber of different terms and conditionsComplexity of authorisation processProportion of invoices automatically matched with POsNumber of supplier queries Proportion of invoices received electronically Proportion of payments made electron

13、icallyMedianMedian16 days90 percentile90 percentile49 days90 percentile90 percentileMedianMedian10 percentile10 percentileNumber of purchase invoices per FTE per annumNumber of purchase invoices per FTE per annum15,0007,0003,000 or lessCost per purchase invoice processedCost per purchase invoice pro

14、cessed10 percentile10 percentileMedianMedian90 percentile90 percentile261710 percentile10 percentile6 daysInvoice processing time in daysInvoice processing time in daysCost driversCost driversSource: statistics taken from Benchmarking database 21 January 1997Source: statistics taken from Benchmarkin

15、g database 21 January 1997全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - TrendsFromFromToToSeparate AP modulePayment by chequeManual matchingPerformed by finance departmentIntegrated systemsElectronic paymentOn-line matchingShared Service Centres or outsourced services全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Pa

16、yable - Critical Success FactorsThese are a summary of the key business requirements, which must be met to achieve the objectives.Single supplier databaseStaff trained in AP process and have clear roles and responsibilitiesPayment terms defined and agreed with supplierEffective communication and fee

17、dback mechanisms in place to handle 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 held on the systemAutomated workflow to route docu

18、ments to relevant personnel when problems need to be resolvedForward payment schedule to cashflow managementFlexible matching criteria全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Appendix 1 : IDEF Process FlowThe diagram below provides a key to the process diagrams used in this document.Process Proces

19、s / / activityactivityControls(i.e. ProceduresStandardsRequirements for rework)Output(i.e.InformationMaterial)Resources(i.e.PeopleFunctionsIT systemsMachines)Input(i.e.InformationMaterial)全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Level 0 Context DiagramGroup / Mgt.Group / Mgt.teamteamFixed AssetFix

20、ed AssetRegisterRegisterPurchasingPurchasingGeneralGeneralLedgerLedgerSuppliers /Suppliers /EmployeesEmployeesFixed Asset detailsSupplier/EmployeeamendmentsProject expense detailsInvoice / Payment detailsPurchase ordersReconcile paymentsHumanHumanResourcesResourcesCashCashManagementManagementManagem

21、ent reportsPaymentsCash requirementsEmployee detailsProjectProjectAccountingAccountingAccounts Accounts PayablePayableReceipts全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Level 1 OverviewVoucher approved for paymentNew period openPayment details ready to post to General LedgerPayment and remittance ad

22、viceVoucher : Invoice/expense claim/Credit note/prepayment requestNotification of changes from supplier or employee Maintain Maintain supplier supplier detailsdetailsAP 1.1AP 1.1Process Process vouchersvouchersAP 1.2AP 1.2Process Process paymentspaymentsAP 1.3AP 1.3Period end Period end processing a

23、nd processing and reporting reporting AP 1.4AP 1.4Voucher processing proceduresAuthorisation rulesMatching rulesSystem validation and approval checksException handling proceduresAP deptAP systemPO systemSupplierRequisitionerBatch controlsAuthorisation rulesReporting guidelinesPosting controlsReconci

24、liation proceduresPeriod end timetableAP deptAP systemPayment deviceAuthorised personnelAPAP SystemHRAuthorisation proceduresSystem access controlsUp to datesupplierrecordsVouchers filedAP deptAP systemGL systemManagement ReportsEmployee joiners and leavers detailsMaintenance requestApproved voucher

25、s ready to post to General LedgerVoucher details available on-lne to Fixed Assets and Project AccountingCancelled vouchers reversed out of AP and filedPayment details available on-line to cash managementPayment cancelled全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Notes Maintain Supplier Details Best

26、Practice FeaturesBest 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 related supplier details on the database, including payment terms. A

27、ccounts Payable responsible for maintaining all payment related supplier data, such as bank details, payment method, payee name and address, payment contacts. Shared employee database with Human Resources. Employee details are maintained by Human Resources, but sufficient details must be held and ma

28、intained by Accounts Payable, to allow payment of expenses. Employee details 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. Where

29、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 of individual accounts.Centralise the vendor set-up capability in order to minimise the

30、 risk of unauthorised or duplicate vendors being set up more than once. From an audit point of view, the control over vendor set up is 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, de

31、tails are consistent in both databases.全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Notes Maintain Supplier Details Internal Control requirementsInternal Control requirementsNew suppliers must be checked and approved by Purchasing in accordance with company policy. Similarly, Purchasing are responsibl

32、e for processing any 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 addition, authorisation for payments within Accounts Payable should

33、be separate from the responsibility of maintaining supplier payment data and processing vouchers. Audit of changes to supplier payment details must be possible.Key Performance IndicatorsKey Performance IndicatorsTime taken to process supplier amendments.全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Not

34、es Process PaymentsBest Practice FeaturesBest Practice FeaturesUse of electronic banking systems for payments, thus minimising the need for manual intervention in the process.Centralisation of the payment processing in order to minimise the risk of making duplicate payments.Payments made no sooner t

35、han the due date in order to maximise cash flow benefits.Facility 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 administer, the potential for

36、fraud is greatly increased.全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Notes Process PaymentsInternal Control requirementsInternal Control requirementsPayment processing needs to be tightly controlled and totally segregated from vendor set-up and invoice processing activities.Key Performance IndicatorsKey Performance IndicatorsNumber of payments per FTE. Number of overdue payments. Number of payments made too early. 全)212普華永道財(cái)務(wù)管理最佳實(shí)踐之應(yīng)付管理課件Accounts Payable - Notes Process PaymentsCost DriversCost DriversThe following generate the costs for the processing of payment