某咨詢財務管理最佳實踐之應收管理

BestPracticeFinancialProcesses:

AccountsReceivableAccountReceivable-BestPracticeObjectivesAccountsReceivableObjectivesOrganisationPeopleProcessesControlsMeasuresInformationSystemsToensurecustomerpaymentsarereceivedefficientlyandeffectivelyforgoods/servicesdelivered,withintheagreedtermsandconditionsTomanagecreditriskefficientlywithoutcreatingunnecessarydelaysinthesalescycleTomaintainacompleteandaccuratestatementofoutstandingdebtorsToprovidecompleteforecastinformationtoassistthemanagementofshort-termcashrequirementsCentralisedprocessingEconomiesofscaleCustomerfocusEstablishcreditlevelsIssuesalesorderIssueinvoiceMonitorcreditCollectcashProceduresmanualAuthorisationValidation/matchingCreditcontrolCostperinvoiceCreditnotespercentageCostperpaymentreceivedDaysdebtoutstandingIntegratedwithsalessystemAutomaticmatchingElectronicreceiptsCustomerrelationsLegalframeworkawarenessCreditmanagementAccountsReceivable-BestPracticeFeaturesProcessFeaturesFormalcreditchecksappliedtoallnewcustomerswithin24hoursusingcreditbureauMonitorcreditstatus/termsonregularbasisCustomeraccountmanagersprovidedwithuptodatecreditstatusTreasurypolicysetonlateandpromptpaymentsAuthoritylevelsclearlydefinedCreditpoliciesdefinedandagreedTermsandconditionsagreedwithcustomersConsolidatedperiodicinvoicingforhighfrequencyshipmentsBankremittancenoticesissuedwithsalesinvoicestofacilitatereconciliationSelfbillinginvoicesbyhighvolumecustomersConsideroutsourcingregularinvoice/paymentegutilitiesRegularreviewofinvoicequeriesandcreditnotesReconciliationofARbalancestoGLcontrolaccountsonaregularbasisCreditinsurancearrangementsevaluatedperiodicallyCustomeraccountmanagersresponsibleforsalesandcashcollectionConstantmonitoringofdebtordays,dailycollection,ageingofdebtCustomercontactrecordsmaintainedOutsourcecashcollectionwhereappropriateDetermineandreportoncredittargetsMonitoroverduedebtsandtakeactionwithinagreedpolicyEstablishcreditlevelsIssuesalesorderIssueinvoiceMonitorcredit/collectcashSalesorderspreparedusingpricingdatabasewithpricingprofilesforproductsandcustomersNoorderprocessedwithoutvalidcustomerPOreferenceDeliverynoteactsasinvoiceforlow-frequencyshippingsAccountsReceivable-BestPracticeFeaturesEstablishcreditlevelsIssuesalesorderIssueinvoiceMonitorcredit/collectcashSystemFeaturesConsolidatedcreditpositionforgroupofcustomersSystemprovideson-linecustomerpaymenthistoryandtermsUseofworkflowsoftwaretomonitorprocessandhelpresolvequeriesStandardcreditcontrolreportsCommonSOPandARcustomerdatabaseInvoicesautomaticallygeneratedfromSOPandshipmentdataSelfbillinginvoicesautomaticallymatchedtocustomerordersMulticurrencyinvoicesAutomaticcommitmentandaccrualsAutomaticreconciliationfacilitiesbetweenintegratedSOPARandGLsystemsSOPlinkedtodebtorsledgertoensurecustomercreditlimitsnotexceededSalesdocumentssentviaEDIforallmajorcustomersIntegratedorder&billingsystemsavailableonline&hardcopyPaymentsreceivedelectronicallywherepossibleAutomaticmatchingofpaymentstoinvoicesOn-linediaryfacilitytomonitorcallsAutomaticflaggingandreportingofhighriskaccountsAutomaticdunninglettersissuedwithinagreedtradingtermsIntegratedsystemstofacilitatecustomerqueryhandlingForecastcashreceiptsavailablefortreasurypurposesAccountsReceivable-TrendsFromToSeparateARmodulePaymentbychequeComplex/variabletradingtermsManualmatchingPerformedbyFinancedepartmentIntegratedsystemsElectronicpaymentCommontradingtermsforallcustomersAutomaticmatchingSharedoroutsourcedservicesAccountsReceivable-Measures/CostDrivers90percentileMedian10percentileNumberofcustomerpaymentreceivedperaccountsreceivableFTEperannum40,3005,500700orlessAccountsreceivablecostpersalesinvoiceprocessed10percentileMedian90percentile<￡1￡3￡18Median1day90percentile4days10percentile<1dayDaystoprocessinvoice/creditnote(ie,timebetweenreceiptofinvoice/creditnoteandentryintotheaccountingsystem)CostdriversNumberofARreceiptsLevelofmultiplereceiptsUseofdirectdebiting/standingordersUseofelectricfundstransferLevelofcreditriskassociatedwithcustomerbaseVarietyinpaymenttermsDegreeofforeigncurrencyreceiptsLevelofcreditnotesBilling-Measures/CostDrivers90percentileMedian10percentileNumberofsalesinvoicesgeneratedperbillingFTEperannum90,00011,1001,600Billingcostpersalesinvoiceandcreditnoteprocessed10percentileMedian90percentile<￡1￡2￡22Median2days90percentile15days10percentile<1dayDaysfromdespatchofgoodstopreparationofsalesinvoiceCostdriversNumberofinvoicesNumberofcustomersUseofEDIComplexityofservice/goodssuppliedVarietyintermsandconditionsComplexityofdiscountsDegreeofforeigncurrencyinvoicingNumberofcomplaintsAccuracy/levelofcreditnotesAccountsReceivable-Level0ContextDiagramAccountsReceivableBillsAdhocinvoices&standingdataReminders&StatementsGLPostingsGeneralLedgerCustomersBankManualInvoicesBillingSystemStandingDataPayments(cash,cheque)DirectDebitInstructionsStatementsPaymentdetails(BankGirocredits)CustomerServicesSystemAlsoelectronicAP/ARdatafrombankforautocashmanagementAccountsReceivable-Level1OverviewCustomerStandingData,Bills&CreditNotesARStaffARsystemBillingsystemCustomerdetailsARdataimportproceduresInterfaceRulesARStaffBillingsystemARsystemCustomerDataLoggedonARSystemInvoice/creditnoteentryrules,BillsandcreditnotesloadingproceduresARStaffARSystemBills&creditnotesManualinvoicerequestCustomermaintenanceprocedures,CustomerrelationshiprulesImportstandingdata,bills&creditnotesAR1.1MaintaincustomerdataAR1.2Processbills,invoices&creditnotesAR1.3DatavalidationreportCustomerreportManagereceivablesAR1.4ProcessreceiptsanddirectdebitsAR1.5ProcessperiodendAR1.7Creditcontrolpoliciesandprocedures,Callloggingprocedures,Provisioncreationrules,LegalproceedingsrulesARstaffARsystemCreditcontrolOpeninvoicesonARsystemPrintinvoicesdespatchedGLupdatesOutstandingdebtorsChequeandreceiptsprocessingrules,Automaticallocationrules,Manualallocationrules,OnaccountpaymentrulesCash/cheque/bankreceiptsListofDDcustomersamountsdueARstaffARsystemBankstatementTransactiondataReviewprocedures,Archivingrules,PerioddataproceduresARstaffARsystemPaymentonaccountloggedonARsystemMatchedDDreceiptsloggedonARsystemRequesttobankProcessamendmentsAR1.6NewperiodopenedonARsystemPeriodendGLpostingsMatchedreceiptsarchivedPeriodreportsproducedAmendmentofvalidationrules,AmendmentinputproceduresAdjustmentsAmendmentsGLupdatesAuditreportDebtorreportDunningletter/statementAmendmentrequest,notifydepartmentProvisionjournalsAccountsReceivableNotesMaintaincustomerdataBestPracticeFeaturesSendbilltooneaddressonly.Whereacustomerisprovidedwithgoodsorservicesatanumberoflocations,theconsolidationinthebillingprocessnotonlyreducesthenumberofbillstobeverifiedorcreatedbutalsodecreasesthepotentialneedtoreconcileanumberofreceivablesonindividualaccounts.Centralisethecustomerset-upprocessinordertoensureconsistency.InternalcontrolrequirementsInordertominimisetheriskofduplicationofthedataandtheunauthorisedset-upofcustomers,theprocessshouldbecentrallycontrolledandoperated.Beforeanycustomerisdeletedfromthesystem,evidenceshouldbeproducedthatthecustomerhasbeeninactivefortheappropriateperiodoftimeandnooutstandingbalancesarepresent.Approvalfordeletionisobtainedbymanagementauthoritysignature.Thechangestocustomersreportisregularlycheckedandmonitored.Systemnotificationofduplicatebusinessandbirthregistrationnumbers.AccountsReceivableNotesMaintaincustomerdataCostDriversNumberofcustomersNumberofnewcustomersNumberofcustomerchangesNumberofrequiredcustomerstandingdatafieldsPossibilityofsharingstandingdatabaseOverlapbetweendatabasesSearchcriteriaandstandardisationtoavoidduplication/redundancyKeyPerformanceIndicatorsNumberofchangesandadditionscarriedoutinayearperFTENumberofcustomersinop.databasewithouttransactionsfor1yearPercentageofchangesandadditionsoftotalcustomerbaseAccountsReceivableNotesManageReceivablesBestPracticeFeaturesAgeddebitbalancesshouldbereviewedbymanagementonaregularbasisandexplanationssoughtastowhydebtshavefailedtoberecovered.Overduedebitbalancesoccurasaresultanumberoffactorsofsub-optimalperformanceswithinthesalesdepartmentorwithinthecreditcontrolprocessorAR-infonotrecordedfrombankquicklyenoughandthereforenotprocessedquicklyenoughortimingofinvoiceissue.Therootcausesneedtobeaddressedandrectifiedbyalteringthecreditabilitystatusofthecustomer.Automaticflaggingandreportingofhighriskaccounts.Materialityandtimelimits.InternalcontrolrequirementsItisessentialthatdebitbalancesarereviewedregularlyandmatchedwithpaymentspromptlyinordertoavoidtheriskoffraudandminimisethechancesofbaddebt.Computerdiaryofactionstaken.Stopsplacedonoverduecustomers.Ageddebtorreportsenttolegaldepartmentandfunctionalmanagers.AccountsReceivableNotesManagereceivables(Cont…)CostDriversNumberofoverdueopenitems.Numberofstepsinthedunningprocedure.Qualityandtimingofthematchingprocessofreceipts.Availabilityofdunningenforcementmeasures.Tolerancecriteria.Paymenttermsandconditionspolicy.KeyPerformanceindicatorsDaysoutstandingasapercentageofaveragepaymentterm.Valueofoverdueinvoicesasapercentageofoutstandingbalances.BadDebtProvisionasapercentageofoutstandingbalances.Processcost/customerpaymentreceived.Numberofdunninglettersas%oftotalinvoices.Writeoffvalueas%of(sundry)salesrevenue.AccountsReceivableNotesProcessreceiptsanddirectdebitsBestpracticefeaturesUseofanelectronicinterfacebetweenbank,cashiersandARtreasuryAutomaticmatchingofreceiptsbyvalueandinvoicenumberInternalcontrolrequirementsInterfacecontroltotalwithbankandcashiers,dailyRegularsupervisoryreviewofopenandunmatcheditemsDocumentationofalloverdueopenitemsandunmatchedreceiptsAccountsReceivableNotesProcessreceiptsanddirectdebitsCostDriversNo.ofReceiptsformorethanonetransactionPercentageofdownpaymentsQualityofpaymentinformationNumberofunmatchedpaymentsNumberofforeigncurrencyreceiptsandexchangeratedifferencesTolerancepaymentdifferencesNumberofcriteriaforautomaticmatchingKeyPerformanceIndicatorsMonthlyandcumulativetolerancedifferenceamountsPercentageofreceiptsclearedautomaticallyinmonthNumberofmanuallymatchedreceiptsperFTENumberofunmatchedreceiptsolderthan1monthAccountsReceivableNotesProcessamendmentsBestPracticeFeaturesSinglecontactpointforallqueries.Althoughthequeryprocessingcanbedistributedthereareobviousinefficienciesindirectingenquiriestoanumberofcontactpoints.Haveaccesstosufficientdatatobeabletohandlethemajorityofquerieson-line.Inthiscontext,theuseofimageprocessingallowsinvoicestobecalleduponscreenquicklyand,ifnecessary,automaticallycopiedtotheenquirerthroughthemediumofautofax.InternalcontrolrequirementsInordertooperateaneffectivehelpdesk,staffwillrequiretohaveaccesstomostpartsoftheaccountsreceivablesystem.Thisshouldbeona‘‘readonly’basisinordertominimisethepotentialforfraudtakingplace.Targetssetfortimetoanswerqueries.AccountsReceivableNotesProcessamendmentsCostDriversNumberandvarietyofqueriesreceived.Availabilityandflexibilityofstandardscreens.Complexityofdatabasefortailor-madequeries.Responsetimesofenquirysystems.User-friendlinessofenquirysystems.KeyPerformanceIndicatorsAveragetimetakentoprocessqueries.Percentageofqueriesansweredwithintargetedtime.AccountsReceivableNotesProcessperiodendBestPracticeFeaturesAutomaticprocessrequiringminimumornomanualintervention.ThisisastandardfeatureofmodernAccountsReceivablepackagesandtheonlypossibleproblemareacouldbewiththenatureoftheinterfacewiththegeneralledgerpackage.InternalcontrolrequirementsThebasicrequirementistoensurethatthedatatransmittedtothegeneralledgeriscompleteandontime.Thereisarequirementtoensurethattheinformationrecordedinthegeneralledgeragreeswiththeoutputfromaccountsreceivable.AreconciliationshouldbecarriedoutbetweendebtorbalancesonGLcomparedwithAR.CheckVATexceptionreporttopickupanylateVATpostings.CostDriversVolumeofmonthlyperiodendreports.Qualityofdaytodaycontrols.KeyPerformanceIndicatorsPercentageofperiodendclosureswithintarget.Averagenumberofdaystoproducemonthlyinformation.9、靜夜四四無鄰，，荒居舊舊業(yè)貧。。。1月-231月-23Sunday,January1,202310、雨雨中中黃黃葉葉樹樹，，燈燈下下白白頭頭人人。。。。14:18:3914:18:3914:181/1/20232:18:39PM11、以我獨沈久久，愧君相見見頻。。1月-2314:18:3914:18Jan-2301-Jan-2312、故人江海別別，幾度隔山山川。。14:18:3914:18:3914:18Sunday,January1,202313、乍見見翻疑疑夢，，相悲悲各問問年。。。1月-231月-2314:18:3914:18:39January1,202314、他他鄉(xiāng)鄉(xiāng)生生白白發(fā)發(fā)，，舊舊國國見見青青山山。。。。01一一月月20232:18:39下下午午14:18:391月月-2315、比不了得得就不比，，得不到的的就不要。。。。一月232:18下下午1月-2314:18January1,202316、行動出成果果，工作出財財富。。2023/1/114:18:3914:18:3901January202317、做做前前，，能能夠夠環(huán)環(huán)視視四四周周；；做做時時，，你你只只能能或或者者最最好好沿沿著著以以腳腳為為起起點點的的射射線線向向前前。。。。2:18:39下下午午2:18下下午午14:18:391月月-239、沒有失敗敗，只有暫暫時停止成成功！。1月-231月-23Sunday,January1,202310、很很多多事事情情努努力力了了未未必必有有結結果果，，但但是是不不努努力力卻卻什什么