财务管理最佳实践之应付管理教材课程课件.ppt

1、Best Practice Financial Processes:Accounts Payable第1页，共16页。2PwC175b(1)Accounts PayableObjectivesOrganisationPeopleProcessesControlsMeasuresInformation SystemsTo maximise processing efficiencyTo ensure invoices are processed to agreed termsTo ensure payments made only when due and payableTo ensure li

2、abilities 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 processingOutsourcing potentialMaintaining supplier detailsProcess vouchersProces

3、s paymentsPeriod end processing and reportingAuthorisation rulesSystem access controlsUser proceduresValidation and matching rulesSpeed of processing supplier amendments Invoices processedInvoice processing timeNumber of payments Period end closure timeInterface between Accounts Payable and other re

4、lated processesShared employee and supplier detailsSystem validation and approval checksSupplier relationsCreditor controlAccounts Payable-Best Practice Objectives第2页，共16页。3PwC175b(1)Accounts Payable-Best practice featuresAuthorise and set up new suppliers payment detailsMaintain supplier payment de

5、tailsSegregation 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 use PO number on all documents and three way match wherever possibleConsolidated

6、 periodic invoicing for high frequency suppliersProcess FeaturesMaintain supplier detailsProcess vouchersOptimisation of early payment discounts Payment runs properly authorisedProcess paymentsAll transactions completed before period closedReconciliation of Accounts Payable activity and reconciliati

7、on with General Ledger control accountManagement reports run once period is finally closedPeriod end processing and reporting第3页，共16页。4PwC175b(1)Accounts Payable-Best practice featuresSingle supplier databaseSingle employee databaseAudit trail of changes to supplier payment detailsPurchase invoices

8、transacted via EDI with major suppliers wherever possibleElectronic 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 software to resolve queries and monito

9、r processSystem FeaturesMaintain supplier detailsProcess vouchersElectronic paymentsDefault payment terms held on supplier file with manual override at P.O.and invoice Production of forward payment entry schedules to aid cash flow managementInterface with General Ledger,Fixed Assets,Project Accounti

10、ng and Cash ManagementFacility to suspend paymentsProcess paymentsIntegration with General Ledger minimises reconciliation adjustmentsTransaction processing prevented for closed periodsPeriod end processing and reporting第4页，共16页。5PwC175b(1)第5页，共16页。6PwC175b(1)Accounts Payable-TrendsFromToSeparate AP

11、 modulePayment by chequeManual matchingPerformed by finance departmentIntegrated systemsElectronic paymentOn-line matchingShared Service Centres or outsourced services第6页，共16页。7PwC175b(1)Accounts Payable-Critical Success FactorsThese are a summary of the key business requirements,which must be met t

12、o 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 maintain good supplier relationsProcess in place

13、 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 resolvedForward payment schedule to cashflow managem

14、entFlexible matching criteria第7页，共16页。8PwC175b(1)Accounts Payable-Appendix 1:IDEF Process FlowThe diagram below provides a key to the process diagrams used in this document.Process/activityControls(i.e.ProceduresStandardsRequirements for rework)Output(i.e.InformationMaterial)Resources(i.e.PeopleFunc

15、tionsIT systemsMachines)Input(i.e.InformationMaterial)第8页，共16页。9PwC175b(1)Accounts Payable-Level 0 Context DiagramGroup/Mgt.teamFixed AssetRegisterPurchasingGeneralLedgerSuppliers/EmployeesFixed Asset detailsSupplier/EmployeeamendmentsProject expense detailsInvoice/Payment detailsPurchase ordersReco

16、ncile paymentsHumanResourcesCashManagementManagement reportsPaymentsCash requirementsEmployee detailsProjectAccountingAccounts PayableReceipts第9页，共16页。10PwC175b(1)Accounts Payable-Level 1 OverviewVoucher approved for paymentNew period openPayment details ready to post to General LedgerPayment and re

17、mittance adviceVoucher:Invoice/expense claim/Credit note/prepayment requestNotification of changes from supplier or employee Maintain supplier detailsAP 1.1Process vouchersAP 1.2Process paymentsAP 1.3Period end processing and reporting AP 1.4Voucher processing proceduresAuthorisation rulesMatching r

18、ulesSystem validation and approval checksException handling proceduresAP deptAP systemPO systemSupplierRequisitionerBatch controlsAuthorisation rulesReporting guidelinesPosting controlsReconciliation proceduresPeriod end timetableAP deptAP systemPayment deviceAuthorised personnelAPAP SystemHRAuthori

19、sation 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 AccountingCanc

20、elled vouchers reversed out of AP and filedPayment details available on-line to cash managementPayment cancelled第10页，共16页。11PwC175b(1)Accounts Payable-Notes Maintain Supplier Details Best Practice FeaturesShared supplier database with Purchasing.Purchasing responsible for approving suppliers(having

21、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,payee name and address,pa

22、yment 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,remittance address,payee n

23、ame 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 number of payments necessary

24、 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 up is also viewed as a crit

25、ical 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.第11页，共16页。12PwC175b(1)Accounts Payable-Notes Maintain Supplier Details Internal Control requirementsNew suppliers must

26、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,Accounts Payable are responsible for the maintenance of al

27、l 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 be possible.Key Performance IndicatorsTime taken to

28、 process supplier amendments.第12页，共16页。13PwC175b(1)Accounts Payable-Notes Process PaymentsBest 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 mak

29、ing 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 ensuring that the vendor complies with any requirements asked of it.Avoid payments in cash.Apart from

30、being costly to administer,the potential for fraud is greatly increased.第13页，共16页。14PwC175b(1)Accounts Payable-Notes Process PaymentsInternal Control requirementsPayment processing needs to be tightly controlled and totally segregated from vendor set-up and invoice processing activities.Key Performa

31、nce IndicatorsNumber of payments per FTE.Number of overdue payments.Number of payments made too early.第14页，共16页。15PwC175b(1)Accounts Payable-Notes Process PaymentsCost DriversThe following generate the costs for the processing of payments:-Number of payment runs.Number of manually prepared payments.

32、Number of payment media(cheques,vouchers,diskettes,etc.).Number of foreign payments.Varied payment terms.ReportsSummary of payments per run.Payments on hold.Reports on Key Performance Indicators.Overdue unpaid invoices第15页，共16页。16PwC175b(1)Accounts Payable-Notes Period end processing and reportingBe

33、st Practice FeaturesAutomatic 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.Internal Control requirementsThe basic requirement is to e

34、nsure 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 ledger 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 periodsDegree of automation in the interface with general ledger第16页，共16页。