企业财务知识培训教材.pptx

企业财务知识培训教材.pptx

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BestPracticeFinancialProcesses:

AccountsPayable,AccountsPayableObjectives,Organisation,People,Processes,Controls,Measures,InformationSystems,TomaximiseprocessingefficiencyToensureinvoicesareprocessedtoagreedtermsToensurepaymentsmadeonlywhendueandpayableToensureliabilitiesarefullyrecordedanddistributedcorrectlyToachieveeffectivebalancebetweenextendingcreditandmaintaininggoodrelationswithsuppliersTotakefulladvantageofopportunitiestorecoverVAT,CentralisedprocessingOutsourcingpotential,MaintainingsupplierdetailsProcessvouchersProcesspaymentsPeriodendprocessingandreporting,AuthorisationrulesSystemaccesscontrolsUserproceduresValidationandmatchingrules,SpeedofprocessingsupplieramendmentsInvoicesprocessedInvoiceprocessingtimeNumberofpaymentsPeriodendclosuretime,InterfacebetweenAccountsPayableandotherrelatedprocessesSharedemployeeandsupplierdetailsSystemvalidationandapprovalchecks,SupplierrelationsCreditorcontrol,AccountsPayable-BestPracticeObjectives,AccountsPayable-Bestpracticefeatures,AuthoriseandsetupnewsupplierspaymentdetailsMaintainsupplierpaymentdetailsSegregationofdutiesbetweensuppliersetup,voucherprocessingandpaymentprocessing,Accountspayableprocessvouchers:

invoices,expenseclaims,creditnotes,debitmemosandprepaymentrequestsSuppliersrequiredtousePOnumberonalldocumentsandthreewaymatchwhereverpossibleConsolidatedperiodicinvoicingforhighfrequencysuppliers,ProcessFeatures,Maintainsupplierdetails,Processvouchers,OptimisationofearlypaymentdiscountsPaymentrunsproperlyauthorised,Processpayments,AlltransactionscompletedbeforeperiodclosedReconciliationofAccountsPayableactivityandreconciliationwithGeneralLedgercontrolaccountManagementreportsrunonceperiodisfinallyclosed,Periodendprocessingandreporting,AccountsPayable-Bestpracticefeatures,SinglesupplierdatabaseSingleemployeedatabaseAudittrailofchangestosupplierpaymentdetails,PurchaseinvoicestransactedviaEDIwithmajorsupplierswhereverpossibleElectronicvalidationandapprovalofinvoicesAutomaticmatchingofinvoicetoorderandgoodsreceivednote（GRN）InterfacewithGeneralLedger,Purchasing,FixedAssetsandProjectAccountingUseofworkflowsoftwaretoresolvequeriesandmonitorprocess,SystemFeatures,Maintainsupplierdetails,Processvouchers,ElectronicpaymentsDefaultpaymenttermsheldonsupplierfilewithmanualoverrideatP.O.andinvoiceProductionofforwardpaymententryschedulestoaidcashflowmanagementInterfacewithGeneralLedger,FixedAssets,ProjectAccountingandCashManagementFacilitytosuspendpayments,Processpayments,IntegrationwithGeneralLedgerminimisesreconciliationadjustmentsTransactionprocessingpreventedforclosedperiods,Periodendprocessingandreporting,AccountsPayable-Measures/Costdrivers,NumberofinvoicesreceivedpermonthNumberofsuppliersNumberofdifferenttermsandconditionsComplexityofauthorisationprocessProportionofinvoicesautomaticallymatchedwithPOsNumberofsupplierqueriesProportionofinvoicesreceivedelectronicallyProportionofpaymentsmadeelectronically,Median,16days,90percentile,49days,90percentile,Median,10percentile,NumberofpurchaseinvoicesperFTEperannum,15,000,7,000,3,000orless,Costperpurchaseinvoiceprocessed,10percentile,Median,90percentile,2,6,17,10percentile,6days,Invoiceprocessingtimeindays,Costdrivers,Source:

statisticstakenfromBenchmarkingdatabase21January1997,AccountsPayable-Trends,From,To,SeparateAPmodulePaymentbychequeManualmatchingPerformedbyfinancedepartment,IntegratedsystemsElectronicpaymentOn-linematchingSharedServiceCentresoroutsourcedservices,AccountsPayable-CriticalSuccessFactors,Theseareasummaryofthekeybusinessrequirements,whichmustbemettoachievetheobjectives.,SinglesupplierdatabaseStafftrainedinAPprocessandhaveclearrolesandresponsibilitiesPaymenttermsdefinedandagreedwithsupplierEffectivecommunicationandfeedbackmechanismsinplacetohandlequeriesEstablishandmaintaingoodsupplierrelationsProcessinplaceformonitoringthestatusofinvoicesandpaymentschedulesAPcalendarinplaceandcommunicatedtostaffAuthorisationlevelsandpaymenttermsheldonthesystemAutomatedworkflowtoroutedocumentstorelevantpersonnelwhenproblemsneedtoberesolvedForwardpaymentscheduletocashflowmanagementFlexiblematchingcriteria,AccountsPayable-Appendix1:

IDEFProcessFlow,Thediagrambelowprovidesakeytotheprocessdiagramsusedinthisdocument.,Process/activity,Controls,（i.e.,ProceduresStandardsRequirementsforrework）,Output,（i.e.,InformationMaterial）,Resources,（i.e.,PeopleFunctionsITsystemsMachines）,Input,（i.e.,InformationMaterial）,AccountsPayable-Level0ContextDiagram,AccountsPayable-Level1Overview,AccountsPayable-NotesMaintainSupplierDetails,BestPracticeFeaturesSharedsupplierdatabasewithPurchasing.Purchasingresponsibleforapprovingsuppliers（havingmadetherequiredchecks）,agreeingtermsandconditionsandmaintaininggeneralandpurchasingrelatedsupplierdetailsonthedatabase,includingpaymentterms.AccountsPayableresponsibleformaintainingallpaymentrelatedsupplierdata,suchasbankdetails,paymentmethod,payeenameandaddress,paymentcontacts.SharedemployeedatabasewithHumanResources.EmployeedetailsaremaintainedbyHumanResources,butsufficientdetailsmustbeheldandmaintainedbyAccountsPayable,toallowpaymentofexpenses.Employeedetailsrequiredincludepaymentmethod,bankdetails,remittanceaddress,payeenameandemployeecostcentre.AccountsPayableshouldnothaveaccesstootherconfidentialemployeedata.Onepaymentaddressforeachvendor.Whereavendorprovidesgoodsorservicesfromanumberoflocations,theconsolidationofthepaymentprocessnotonlyreducesthenumberofpaymentsnecessarybutalsoremovesthepotentialneedtoreconcileanumberofindividualaccounts.Centralisethevendorset-upcapabilityinordertominimisetheriskofunauthorisedorduplicatevendorsbeingsetupmorethanonce.Fromanauditpointofview,thecontrolovervendorsetupisalsoviewedasacriticalactivitywhichneedstobetightlycontrolled.Changestosupplierdetailsareprocessedexpeditiously.If,thevendorisalsoacustomer,detailsareconsistentinbothdatabases.,AccountsPayable-NotesMaintainSupplierDetails,InternalControlrequirementsNewsuppliersmustbecheckedandapprovedbyPurchasinginaccordancewithcompanypolicy.Similarly,Purchasingareresponsibleforprocessinganymergers,acquisitionsordeletions.Toenableefficientinvoicepaymentprocessingandensuresegregationofduties,AccountsPayableareresponsibleforthemaintenanceofallpaymentrelatedsupplierdata.Inaddition,authorisationforpaymentswithinAccountsPayableshouldbeseparatefromtheresponsibilityofmaintainingsupplierpaymentdataandprocessingvouchers.Auditofchangestosupplierpaymentdetailsmustbepossible.KeyPerformanceIndicatorsTimetakentoprocesssupplieramendments.,AccountsPayable-NotesProcessPayments,BestPracticeFeaturesUseofelectronicbankingsystemsforpayments,thusminimisingtheneedformanualinterventionintheprocess.Centralisationofthepaymentprocessinginordertominimisetheriskofmakingduplicatepayments.Paymentsmadenosoonerthantheduedateinordertomaximisecashflowbenefits.Facilitytosuspendindividualpayments.Thewithholdingofpaymentcanbeapowerfultoolinensuringthatthevendorcomplieswithanyrequirementsaskedofit.Avoidpaymentsincash.Apartfrombeingcostlytoadminister,thepotentialforfraudisgreatlyincreased.,AccountsPayable-NotesProcessPayments,InternalControlrequirementsPaymentprocessingneedstobetightlycontrolledandtotallysegregatedfromvendorset-upandinvoiceprocessingactivities.KeyPerformanceIndicatorsNumberofpaymentsperFTE.Numberofoverduepayments.Numberofpaymentsmadetooearly.,AccountsPayable-NotesProcessPayments,CostDriversThefollowinggeneratethecostsfortheprocessingofpayments:

-Numberofpaymentruns.Numberofmanuallypreparedpayments.Numberofpaymentmedia（cheques,vouchers,diskettes,etc.）.Numberofforeignpayments.Variedpaymentterms.ReportsSummaryofpaymentsperrun.Paymentsonhold.ReportsonKeyPerformanceIndicators.Overdueunpaidinvoices,AccountsPayable-NotesPeriodendprocessingandreporting,BestPracticeFeaturesAutomaticprocessrequiringlittleornomanualintervention.PostingtoGLshouldbedaily.ThisensuresGLdataisuptodateandalsoreducesthetimetakenfortheperiodendpostingasfewerrecordsarebeingprocessed.InternalControlrequirementsThebasicrequirementistoensurethatthedatatransmittedtothegeneralledgeriscompleteandontime.Thereisarequirementtoensurethattheinformationrecordedinthegeneralledgeragreeswiththeoutputfromaccountspayable.KeyPerformanceIndicatorsDeliveryofinformationtogeneralledgerontimeTimelydeliveryofendofperiodreportsCostDriversVolumeoftransactionsTimetocloseperiodsDegreeofautomationintheinterfacewithgeneralledger,