普华永道财务管理最佳实践之应付管理课件

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1、普华永道财务管理最佳实践之应付管理课件Best Practice Financial Processes:Accounts Payable普华永道财务管理最佳实践之应付管理课件Accounts PayableObjectivesOrganisationOrganisationPeoplePeopleProcessesProcessesControlsControlsMeasuresMeasuresInformation SystemsInformation SystemsTo 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 relations with suppliersTo take full advantage of opportunities to recover VATCentralised p

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

4、 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普华永道财务管理最佳实践之应付管理课件Accounts Payable-Best practice feature

5、sAuthorise 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 requestsSuppliers required to u

6、se 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 discounts Payment runs proper

7、ly 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 processing and reportinga

8、nd reporting普华永道财务管理最佳实践之应付管理课件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 approval of invoicesAutomatic m

9、atching 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 detailsdetailsProcess vouchersProcess v

10、ouchersElectronic 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 ManagementFacility to suspend paymentsProcess paymentsPr

11、ocess paymentsIntegration with General Ledger minimises reconciliation adjustmentsTransaction processing prevented for closed periodsPeriod end Period end processing processing and reportingand reporting普华永道财务管理最佳实践之应付管理课件Accounts Payable-Measures/Cost driversNumber of invoices received per monthNum

12、ber 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 electronicallyMedianMedian16 days90 percentile90 perce

13、ntile49 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 processed10 percentile10 percentileMedianMedian90

14、 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 Benchmarking database 21 January 1997普华永道财务管理最佳实践之应付管理课件Acc

15、ounts Payable-TrendsFromFromToToSeparate AP modulePayment by chequeManual matchingPerformed by finance departmentIntegrated systemsElectronic paymentOn-line matchingShared Service Centres or outsourced services普华永道财务管理最佳实践之应付管理课件Accounts Payable-Critical Success FactorsThese are a summary of the key

16、 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 feedback mechanisms in place to handle queriesEstablish and mainta

17、in 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 documents to relevant personnel when problems need to be resolvedFo

18、rward payment schedule to cashflow managementFlexible matching criteria普华永道财务管理最佳实践之应付管理课件Accounts Payable-Appendix 1:IDEF Process FlowThe diagram below provides a key to the process diagrams used in this document.Process Process/activityactivityControls(i.e.ProceduresStandardsRequirements for rewor

19、k)Output(i.e.InformationMaterial)Resources(i.e.PeopleFunctionsIT systemsMachines)Input(i.e.InformationMaterial)普华永道财务管理最佳实践之应付管理课件Accounts Payable-Level 0 Context DiagramGroup/Mgt.Group/Mgt.teamteamFixed AssetFixed AssetRegisterRegisterPurchasingPurchasingGeneralGeneralLedgerLedgerSuppliers/Supplier

20、s/EmployeesEmployeesFixed Asset detailsSupplier/EmployeeamendmentsProject expense detailsInvoice/Payment detailsPurchase ordersReconcile paymentsHumanHumanResourcesResourcesCashCashManagementManagementManagement reportsPaymentsCash requirementsEmployee detailsProjectProjectAccountingAccountingAccoun

21、ts Accounts PayablePayableReceipts普华永道财务管理最佳实践之应付管理课件Accounts Payable-Level 1 OverviewVoucher approved for paymentNew period openPayment details ready to post to General LedgerPayment and remittance adviceVoucher:Invoice/expense claim/Credit note/prepayment requestNotification of changes from suppli

22、er 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 and processing and reporting reporting AP 1.4AP 1.4Voucher processing proceduresAuthorisation rulesMat

23、ching rulesSystem validation and approval checksException handling proceduresAP deptAP systemPO systemSupplierRequisitionerBatch controlsAuthorisation rulesReporting guidelinesPosting controlsReconciliation proceduresPeriod end timetableAP deptAP systemPayment deviceAuthorised personnelAPAP SystemHR

24、Authorisation proceduresSystem access controlsUp to datesupplierrecordsVouchers filedAP deptAP systemGL systemManagement ReportsEmployee joiners and leavers detailsMaintenance requestApproved vouchers ready to post to General LedgerVoucher details available on-lne to Fixed Assets and Project Account

25、ingCancelled vouchers reversed out of AP and filedPayment details available on-line to cash managementPayment cancelled普华永道财务管理最佳实践之应付管理课件Accounts Payable-Notes Maintain Supplier Details Best Practice FeaturesBest Practice FeaturesShared supplier database with Purchasing.Purchasing responsible for a

26、pproving suppliers(having made the required checks),agreeing terms and conditions and maintaining general and purchasing related supplier details on the database,including payment terms.Accounts Payable responsible for maintaining all payment related supplier data,such as bank details,payment method

27、,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 maintained by Accounts Payable,to allow payment of expenses.Employee details required include payment method,bank details,

28、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 a vendor provides goods or services from a number of locations,the consolidation of the payment process not only reduces the nu

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

30、p 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,details are consistent in both databases.普华永道财务管理最佳实践之应付管理课件Accounts Payable-Notes Maintain Supplier Details Internal Control requirem

31、entsInternal Control requirementsNew suppliers must be checked and approved by Purchasing in accordance with company policy.Similarly,Purchasing are responsible for processing any mergers,acquisitions or deletions.To enable efficient invoice payment processing and ensure segregation of duties,Accoun

32、ts Payable are responsible for the maintenance of all payment related supplier data.In addition,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

33、 be possible.Key Performance IndicatorsKey Performance IndicatorsTime taken to process supplier amendments.普华永道财务管理最佳实践之应付管理课件Accounts Payable-Notes Process PaymentsBest Practice FeaturesBest Practice FeaturesUse of electronic banking systems for payments,thus minimising the need for manual interven

34、tion 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.Facility to suspend individual payments.The withholding of payment can be a powerful tool in ensur

35、ing that the vendor complies with any requirements asked of it.Avoid payments in cash.Apart from being costly to administer,the potential for fraud is greatly increased.普华永道财务管理最佳实践之应付管理课件Accounts Payable-Notes Process PaymentsInternal Control requirementsInternal Control requirementsPayment process

36、ing 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.普华永道财务管理最佳实践之应付管理课件Accounts Payable-Notes Process

37、 PaymentsCost DriversCost DriversThe following 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 payment terms.ReportsReportsSummary of payments per

38、 run.Payments on hold.Reports on Key Performance Indicators.Overdue unpaid invoices普华永道财务管理最佳实践之应付管理课件Accounts Payable-Notes Period end processing and reportingBest Practice FeaturesBest Practice FeaturesAutomatic process requiring little or no manual intervention.Posting to GL should be daily.This

39、ensures GL data is up to date and also reduces the time taken for the period end posting as fewer records are being processed.Internal Control requirementsInternal Control requirementsThe basic requirement is to ensure that the data transmitted to the general ledger is complete and on time.There is

40、a requirement to ensure that the information recorded in the general ledger agrees with the output from accounts payable.Key Performance IndicatorsKey Performance IndicatorsDelivery of information to general ledger on timeTimely delivery of end of period reportsCost DriversCost DriversVolume of transactionsTime to close periodsDegree of automation in the interface with general ledger普华永道财务管理最佳实践之应付管理课件