财务管理最佳实践之应付管理课件.ppt

1、Best Practice Financial Processes:Accounts Payable2Accounts PayableObjectivesOrganisationPeopleProcessesControlsMeasuresInformation SystemsTo maximise processing efficiencyTo ensure invoices are processed to agreed termsTo ensure payments made only when due and payableTo ensure liabilities are fully

2、 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 vouchersProcess paymentsPeriod en

3、d 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 related processesShar

4、ed employee and supplier detailsSystem validation and approval checksSupplier relationsCreditor controlAccounts Payable-Best Practice Objectives3Accounts Payable-Best practice featuresAuthorise and set up new suppliers payment detailsMaintain supplier payment detailsSegregation of duties between sup

5、plier 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 periodic invoicing for high frequency

6、 suppliersProcess FeaturesMaintain supplier detailsProcess vouchersOptimisation of early payment discounts Payment runs properly authorisedProcess paymentsAll transactions completed before period closedReconciliation of Accounts Payable activity and reconciliation with General Ledger control account

7、Management reports run once period is finally closedPeriod end processing and reporting4Accounts Payable-Best practice featuresSingle supplier databaseSingle employee databaseAudit trail of changes to supplier payment detailsPurchase invoices transacted via EDI with major suppliers wherever possible

8、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 software to resolve queries and monitor processSystem FeaturesMaintain supplier detailsProcess

9、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 Accounting and Cash ManagementFacility to suspend paymentsProcess

10、 paymentsIntegration with General Ledger minimises reconciliation adjustmentsTransaction processing prevented for closed periodsPeriod end processing and reporting5Accounts Payable-Measures/Cost driversNumber of invoices received per monthNumber of suppliersNumber of different terms and conditionsCo

11、mplexity of authorisation processProportion of invoices automatically matched with POsNumber of supplier queries Proportion of invoices received electronically Proportion of payments made electronicallyMedian16 days90 percentile49 days90 percentileMedian10 percentileNumber of purchase invoices per F

12、TE per annum15,0007,0003,000 or lessCost per purchase invoice processed10 percentileMedian90 percentile261710 percentile6 daysInvoice processing time in daysCost driversSource:statistics taken from Benchmarking database 21 January 19976Accounts Payable-TrendsFromToSeparate AP modulePayment by cheque

13、Manual matchingPerformed by finance departmentIntegrated systemsElectronic paymentOn-line matchingShared Service Centres or outsourced services7Accounts Payable-Critical Success FactorsThese are a summary of the key business requirements,which must be met to achieve the objectives.Single supplier da

14、tabaseStaff 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 for monitoring the status of invoices and

15、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 managementFlexible matching criteria8Accounts Paya

16、ble-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.PeopleFunctionsIT systemsMachines)Input(i.e.InformationMaterial)9Account

17、s Payable-Level 0 Context DiagramGroup/Mgt.teamFixed AssetRegisterPurchasingGeneralLedgerSuppliers/EmployeesFixed Asset detailsSupplier/EmployeeamendmentsProject expense detailsInvoice/Payment detailsPurchase ordersReconcile paymentsHumanResourcesCashManagementManagement reportsPaymentsCash requirem

18、entsEmployee detailsProjectAccountingAccounts PayableReceipts10Accounts 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 f

19、rom supplier or employee Maintain supplier detailsAP 1.1Process vouchersAP 1.2Process paymentsAP 1.3Period end processing and reporting AP 1.4Voucher processing proceduresAuthorisation rulesMatching rulesSystem validation and approval checksException handling proceduresAP deptAP systemPO systemSuppl

20、ierRequisitionerBatch controlsAuthorisation rulesReporting guidelinesPosting controlsReconciliation proceduresPeriod end timetableAP deptAP systemPayment deviceAuthorised personnelAPAP SystemHRAuthorisation proceduresSystem access controlsUp to datesupplierrecordsVouchers filedAP deptAP systemGL sys

21、temManagement ReportsEmployee joiners and leavers detailsMaintenance requestApproved vouchers 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 managementPayme

22、nt cancelled11Accounts Payable-Notes Maintain Supplier Details 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 related supplier details

23、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 contacts.Shared employee database with Human Resources.Employee details are maintained by Human Resources,but suff

24、icient 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 name and employee cost centre.Accounts Payable should not have access to other confidential employee data.One payment add

25、ress 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 but also removes the potential need to reconcile a number of individual accounts.Centralise the vendor set-up capabilit

26、y 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 critical activity which needs to be tightly controlled.Changes to supplier details are processed expeditiously.If,the vendor

27、 is also a customer,details are consistent in both databases.12Accounts Payable-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 any mergers,acqu

28、isitions 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 be separate from the responsibility of

29、 maintaining supplier payment data and processing vouchers.Audit of changes to supplier payment details must be possible.Key Performance IndicatorsTime taken to process supplier amendments.13Accounts Payable-Notes Process PaymentsBest Practice FeaturesUse of electronic banking systems for payments,t

30、hus 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 than the due date in order to maximise cash flow benefits.Facility to suspend individual payments.The withholding

31、 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 fraud is greatly increased.14Accounts Payable-Notes Process PaymentsInternal Control requirementsPayment processing

32、 needs to be tightly controlled and totally segregated from vendor set-up and invoice processing activities.Key Performance IndicatorsNumber of payments per FTE.Number of overdue payments.Number of payments made too early.15Accounts Payable-Notes Process PaymentsCost DriversThe following generate th

33、e 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.ReportsSummary of payments per run.Payments on hold.Reports on Key Performance Indicators.Overd

34、ue unpaid invoices16Accounts Payable-Notes Period end processing and reportingBest 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 record

35、s are being processed.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 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