应付帐款流程.pptx

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1、Best Practice Financial Processes:Accounts Payable2PwC175b(1)Accounts PayableObjectivesOrganisationPeopleProcessesControlsMeasuresInformation SystemsTo maximise processing efficiencyTo ensure invoices are processed to agreed termsTo ensure payments made only when due and payableTo ensure liabilities

2、 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 vouchersProcess payment

3、sPeriod 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 related pro

4、cessesShared employee and supplier detailsSystem validation and approval checksSupplier relationsCreditor controlAccounts Payable-Best Practice Objectives3PwC175b(1)Accounts Payable-Measures/Cost driversNumber of invoices received per monthNumber of suppliersNumber of different terms and conditionsC

5、omplexity 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

6、FTE 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 19974PwC175b(1)Accounts Payable-TrendsFromToSeparate AP modulePaymen

7、t by chequeManual matchingPerformed by finance departmentIntegrated systemsElectronic paymentOn-line matchingShared Service Centres or outsourced services5PwC175b(1)Accounts Payable-Critical Success FactorsThese are a summary of the key business requirements,which must be met to achieve the objectiv

8、es.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 for monitoring the st

9、atus 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 managementFlexible matching c

10、riteria6PwC175b(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.PeopleFunctionsIT systemsMachines)Input(i

11、.e.InformationMaterial)7PwC175b(1)Accounts Payable-Level 0 Context DiagramGroup/Mgt.teamFixed AssetRegisterPurchasingGeneralLedgerSuppliers/EmployeesFixed Asset detailsSupplier/EmployeeamendmentsProject expense detailsInvoice/Payment detailsPurchase ordersReconcile paymentsHumanResourcesCashManageme

12、ntManagement reportsPaymentsCash requirementsEmployee detailsProjectAccountingReceipts8PwC175b(1)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/prepaymen

13、t 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 rulesSystem validation and approval checksException handling proced

14、uresAP deptAP systemPO systemSupplierRequisitionerBatch controlsAuthorisation rulesReporting guidelinesPosting controlsReconciliation proceduresPeriod end timetableAP deptAP systemPayment deviceAuthorised personnelAPAP SystemHRAuthorisation proceduresSystem access controlsUp to datesupplierrecordsVo

15、uchers 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 AccountingCancelled vouchers reversed out of AP and filedPayment details availab

16、le on-line to cash managementPayment cancelled9PwC175b(1)Accounts 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 gener

17、al 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,payment contacts.Shared employee database with Human Resources.Employee details

18、 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 name and employee cost centre.Accounts Payable should not have access to other

19、 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 but also removes the potential need to reconcile a number of individual acco

20、unts.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 critical activity which needs to be tightly controlled.Changes to supplier detail

21、s are processed expeditiously.If,the vendor is also a customer,details are consistent in both databases.10PwC175b(1)Accounts Payable-Notes Maintain Supplier Details Internal Control requirementsNew suppliers must be checked and approved by Purchasing in accordance with company policy.Similarly,Purch

22、asing 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 all payment related supplier data.In addition,authorisation for payments within Accounts

23、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 process supplier amendments.11PwC175b(1)Accounts Payable-Notes Process PaymentsBest Pr

24、actice 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 than the due date in order to maximise cash flow b

25、enefits.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 fraud is greatly increased.12PwC175b(1)Accounts Paya

26、ble-Notes Process PaymentsInternal Control requirementsPayment processing 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.13PwC

27、175b(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.Number of payment media(cheques,vouchers,diskettes,etc.).Number of foreign payments.Varied payment terms.ReportsSumma

28、ry of payments per run.Payments on hold.Reports on Key Performance Indicators.Overdue unpaid invoices14PwC175b(1)Accounts 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

29、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 ensure that the data transmitted to the general ledger is complete and on time.There is a requirement to ensure that the informa

30、tion 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