某咨询应收帐最佳流程管理英文

BestPracticeFinancialProcesses:

AccountsReceivableAccountReceivable-BestPracticeObjectivesAccountsReceivableObjectivesOrganisationPeopleProcessesControlsMeasuresInformationSystemsToensurecustomerpaymentsarereceivedefficientlyandeffectivelyforgoods/servicesdelivered,withintheagreedtermsandconditionsTomanagecreditriskefficientlywithoutcreatingunnecessarydelaysinthesalescycleTomaintainacompleteandaccuratestatementofoutstandingdebtorsToprovidecompleteforecastinformationtoassistthemanagementofshort-termcashrequirementsCentralisedprocessingEconomiesofscaleCustomerfocusEstablishcreditlevelsIssuesalesorderIssueinvoiceMonitorcreditCollectcashProceduresmanualAuthorisationValidation/matchingCreditcontrolCostperinvoiceCreditnotespercentageCostperpaymentreceivedDaysdebtoutstandingIntegratedwithsalessystemAutomaticmatchingElectronicreceiptsCustomerrelationsLegalframeworkawarenessCreditmanagementAccountsReceivable-BestPracticeFeaturesProcessFeaturesFormalcreditchecksappliedtoallnewcustomerswithin24hoursusingcreditbureauMonitorcreditstatus/termsonregularbasisCustomeraccountmanagersprovidedwithuptodatecreditstatusTreasurypolicysetonlateandpromptpaymentsAuthoritylevelsclearlydefinedCreditpoliciesdefinedandagreedTermsandconditionsagreedwithcustomersConsolidatedperiodicinvoicingforhighfrequencyshipmentsBankremittancenoticesissuedwithsalesinvoicestofacilitatereconciliationSelfbillinginvoicesbyhighvolumecustomersConsideroutsourcingregularinvoice/paymentegutilitiesRegularreviewofinvoicequeriesandcreditnotesReconciliationofARbalancestoGLcontrolaccountsonaregularbasisCreditinsurancearrangementsevaluatedperiodicallyCustomeraccountmanagersresponsibleforsalesandcashcollectionConstantmonitoringofdebtordays,dailycollection,ageingofdebtCustomercontactrecordsmaintainedOutsourcecashcollectionwhereappropriateDetermineandreportoncredittargetsMonitoroverduedebtsandtakeactionwithinagreedpolicyEstablishcreditlevelsIssuesalesorderIssueinvoiceMonitorcredit/collectcashSalesorderspreparedusingpricingdatabasewithpricingprofilesforproductsandcustomersNoorderprocessedwithoutvalidcustomerPOreferenceDeliverynoteactsasinvoiceforlow-frequencyshippingsAccountsReceivable-BestPracticeFeaturesEstablishcreditlevelsIssuesalesorderIssueinvoiceMonitorcredit/collectcashSystemFeaturesConsolidatedcreditpositionforgroupofcustomersSystemprovideson-linecustomerpaymenthistoryandtermsUseofworkflowsoftwaretomonitorprocessandhelpresolvequeriesStandardcreditcontrolreportsCommonSOPandARcustomerdatabaseInvoicesautomaticallygeneratedfromSOPandshipmentdataSelfbillinginvoicesautomaticallymatchedtocustomerordersMulticurrencyinvoicesAutomaticcommitmentandaccrualsAutomaticreconciliationfacilitiesbetweenintegratedSOPARandGLsystemsSOPlinkedtodebtorsledgertoensurecustomercreditlimitsnotexceededSalesdocumentssentviaEDIforallmajorcustomersIntegratedorder&billingsystemsavailableonline&hardcopyPaymentsreceivedelectronicallywherepossibleAutomaticmatchingofpaymentstoinvoicesOn-linediaryfacilitytomonitorcallsAutomaticflaggingandreportingofhighriskaccountsAutomaticdunninglettersissuedwithinagreedtradingtermsIntegratedsystemstofacilitatecustomerqueryhandlingForecastcashreceiptsavailablefortreasurypurposesAccountsReceivable-TrendsFromToSeparateARmodulePaymentbychequeComplex/variabletradingtermsManualmatchingPerformedbyFinancedepartmentIntegratedsystemsElectronicpaymentCommontradingtermsforallcustomersAutomaticmatchingSharedoroutsourcedservicesAccountsReceivable-Measures/CostDrivers90percentileMedian10percentileNumberofcustomerpaymentreceivedperaccountsreceivableFTEperannum40,3005,500700orlessAccountsreceivablecostpersalesinvoiceprocessed10percentileMedian90percentile<£1£3£18Median1day90percentile4days10percentile<1dayDaystoprocessinvoice/creditnote(ie,timebetweenreceiptofinvoice/creditnoteandentryintotheaccountingsystem)CostdriversNumberofARreceiptsLevelofmultiplereceiptsUseofdirectdebiting/standingordersUseofelectricfundstransferLevelofcreditriskassociatedwithcustomerbaseVarietyinpaymenttermsDegreeofforeigncurrencyreceiptsLevelofcreditnotesBilling-Measures/CostDrivers90percentileMedian10percentileNumberofsalesinvoicesgeneratedperbillingFTEperannum90,00011,1001,600Billingcostpersalesinvoiceandcreditnoteprocessed10percentileMedian90percentile<£1£2£22Median2days90percentile15days10percentile<1dayDaysfromdespatchofgoodstopreparationofsalesinvoiceCostdriversNumberofinvoicesNumberofcustomersUseofEDIComplexityofservice/goodssuppliedVarietyintermsandconditionsComplexityofdiscountsDegreeofforeigncurrencyinvoicingNumberofcomplaintsAccuracy/levelofcreditnotesAccountsReceivable-Level0ContextDiagramAccountsReceivableBillsAdhocinvoices&standingdataReminders&StatementsGLPostingsGeneralLedgerCustomersBankManualInvoicesBillingSystemStandingDataPayments(cash,cheque)DirectDebitInstructionsStatementsPaymentdetails(BankGirocredits)CustomerServicesSystemAlsoelectronicAP/ARdatafrombankforautocashmanagementAccountsReceivable-Level1OverviewCustomerStandingData,Bills&CreditNotesARStaffARsystemBillingsystemCustomerdetailsARdataimportproceduresInterfaceRulesARStaffBillingsystemARsystemCustomerDataLoggedonARSystemInvoice/creditnoteentryrules,BillsandcreditnotesloadingproceduresARStaffARSystemBills&creditnotesManualinvoicerequestCustomermaintenanceprocedures,CustomerrelationshiprulesImportstandingdata,bills&creditnotesAR1.1MaintaincustomerdataAR1.2Processbills,invoices&creditnotesAR1.3DatavalidationreportCustomerreportManagereceivablesAR1.4ProcessreceiptsanddirectdebitsAR1.5ProcessperiodendAR1.7Creditcontrolpoliciesandprocedures,Callloggingprocedures,Provisioncreationrules,LegalproceedingsrulesARstaffARsystemCreditcontrolOpeninvoicesonARsystemPrintinvoicesdespatchedGLupdatesOutstandingdebtorsChequeandreceiptsprocessingrules,Automaticallocationrules,Manualallocationrules,OnaccountpaymentrulesCash/cheque/bankreceiptsListofDDcustomersamountsdueARstaffARsystemBankstatementTransactiondataReviewprocedures,Archivingrules,PerioddataproceduresARstaffARsystemPaymentonaccountloggedonARsystemMatchedDDreceiptsloggedonARsystemRequesttobankProcessamendmentsAR1.6NewperiodopenedonARsystemPeriodendGLpostingsMatchedreceiptsarchivedPeriodreportsproducedAmendmentofvalidationrules,AmendmentinputproceduresAdjustmentsAmendmentsGLupdatesAuditreportDebtorreportDunningletter/statementAmendmentrequest,notifydepartmentProvisionjournalsAccountsReceivableNotes

MaintaincustomerdataBestPracticeFeaturesSendbilltooneaddressonly.Whereacustomerisprovidedwithgoodsorservicesatanumberoflocations,theconsolidationinthebillingprocessnotonlyreducesthenumberofbillstobeverifiedorcreatedbutalsodecreasesthepotentialneedtoreconcileanumberofreceivablesonindividualaccounts.Centralisethecustomerset-upprocessinordertoensureconsistency.AccountsReceivableNotes

MaintaincustomerdataInternalcontrolrequirementsInordertominimisetheriskofduplicationofthedataandtheunauthorisedset-upofcustomers,theprocessshouldbecentrallycontrolledandoperated.Beforeanycustomerisdeletedfromthesystem,evidenceshouldbeproducedthatthecustomerhasbeeninactivefortheappropriateperiodoftimeandnooutstandingbalancesarepresent.Approvalfordeletionisobtainedbymanagementauthoritysignature.Thechangestocustomersreportisregularlycheckedandmonitored.Systemnotificationofduplicatebusinessandbirthregistrationnumbers.AccountsReceivableNotes

MaintaincustomerdataCostDriversNumberofcustomersNumberofnewcustomersNumberofcustomerchangesNumberofrequiredcustomerstandingdatafieldsPossibilityofsharingstandingdatabaseOverlapbetweendatabasesSearchcriteriaandstandardisationtoavoidduplication/redundancyAccountsReceivableNotes

MaintaincustomerdataKeyPerformanceIndicatorsNumberofchangesandadditionscarriedoutinayearperFTENumberofcustomersinop.databasewithouttransactionsfor1yearPercentageofchangesandadditionsoftotalcustomerbaseAccountsReceivableNotes

ManageReceivablesBestPracticeFeaturesAgeddebitbalancesshouldbereviewedbymanagementonaregularbasisandexplanationssoughtastowhydebtshavefailedtoberecovered.Overduedebitbalancesoccurasaresultanumberoffactorsofsub-optimalperformanceswithinthesalesdepartmentorwithinthecreditcontrolprocessorAR-infonotrecordedfrombankquicklyenoughandthereforenotprocessedquicklyenoughortimingofinvoiceissue.Therootcausesneedtobeaddressedandrectifiedbyalteringthecreditabilitystatusofthecustomer.Automaticflaggingandreportingofhighriskaccounts.Materialityandtimelimits.AccountsReceivableNotes

ManageReceivablesInternalcontrolrequirementsItisessentialthatdebitbalancesarereviewedregularlyandmatchedwithpaymentspromptlyinordertoavoidtheriskoffraudandminimisethechancesofbaddebt.Computerdiaryofactionstaken.Stopsplacedonoverduecustomers.Ageddebtorreportsenttolegaldepartmentandfunctionalmanagers.AccountsReceivableNotes

Managereceivables(Cont…)CostDriversNumberofoverdueopenitems.Numberofstepsinthedunningprocedure.Qualityandtimingofthematchingprocessofreceipts.Availabilityofdunningenforcementmeasures.Tolerancecriteria.Paymenttermsandconditionspolicy.AccountsReceivableNotes

Managereceivables(Cont…)KeyPerformanceindicatorsDaysoutstandingasapercentageofaveragepaymentterm.Valueofoverdueinvoicesasapercentageofoutstandingbalances.BadDebtProvisionasapercentageofoutstandingbalances.Processcost/customerpaymentreceived.Numberofdunninglettersas%oftotalinvoices.Writeoffvalueas%of(sundry)salesrevenue.AccountsReceivableNotes

ProcessreceiptsanddirectdebitsBestpracticefeaturesUseofanelectronicinterfacebetweenbank,cashiersandARtreasuryAutomaticmatchingofreceiptsbyvalueandinvoicenumberInternalcontrolrequirementsInterfacecontroltotalwithbankandcashiers,dailyRegularsupervisoryreviewofopenandunmatcheditemsDocumentationofalloverdueopenitemsandunmatchedreceiptsAccountsReceivableNotes

ProcessreceiptsanddirectdebitsCostDriversNo.ofReceiptsformorethanonetransactionPercentageofdownpaymentsQualityofpaymentinformationNumberofunmatchedpaymentsNumberofforeigncurrencyreceiptsandexchangeratedifferencesTolerancepaymentdifferencesNumberofcriteriaforautomaticmatchingAcc三oun三ts三Rec三eiv三abl三eN三ote三sMan三age三re三cei三vab三les三(C三ont三…)Key三Pe三rfo三rma三nce三in三dic三ato三rsDay三so三uts三tan三din三ga三sa三pe三rce三nta三ge三of三ave三rag三ep三aym三ent三te三rm.Val三ue三of三ove三rdu三ei三nvo三ice三sa三sa三pe三rce三nta三ge三of三out三sta三ndi三ng三bal三anc三es.Bad三De三bt三Pro三vis三ion三as三a三percen三tag三eo三fo三uts三tan三din三gb三ala三nce三s.Pro三ces三sc三ost三/cu三sto三mer三pa三yme三nt三rec三eiv三ed.Num三ber三of三du三nni三ng三let三ter三sa三s%三of三to三tal三in三voi三ces三.Wri三te三off三va三lue三as三%三of三(su三ndr三y)三sal三es三rev三enu三e.Acc三oun三ts三Rec三eiv三abl三eN三ote三sPro三ces三sa三men三dme三ntsBes三tP三rac三tic三eF三eat三ure三sSin三gle三co三nta三ct三poi三nt三for三al三lq三uer三ies三.A三lth三oug三ht三he三que三ry三pro三ces三sin三gc三an三be三dis三tri三but三ed三the三re三are三ob三vio三us三ine三ffi三cie三nci三es三in三dir三ect三ing三en三qui三rie三st三oa三nu三mbe三ro三fc三ont三act三po三int三s.Hav三ea三cce三ss三to三suf三fic三ien三td三ata三to三be三ab三le三to三han三dle三th三em三ajo三rit三yo三fq三uer三ies三on三-li三ne.三In三th三is三con三tex三t,三the三us三eo三fi三mag三ep三roc三ess三ing三al三low三si三nvo三ice三st三ob三ec三all三ed三up三on三scr三een三qu三ick三ly三and三,i三fn三ece三ssa三ry,三au三tom三ati三cal三ly三cop三ied三to三th三ee三nqu三ire三rt三hro三ugh三th三em三edi三um三of三aut三ofa三x.Acc三oun三ts三Rec三eiv三abl三eN三ote三sMan三age三re三cei三vab三les三(C三ont三…)Key三Pe三rfo三rma三nce三in三dic三ato三rsDay三so三uts三tan三din三ga三sa三pe三rce三nta三ge三of三ave三rag三ep三aym三ent三te三rm.Val三ue三of三ove三rdu三ei三nvo三ice三sa三sa三pe三rce三nta三ge三of三out三sta三ndi三ng三bal三anc三es.Bad三De三bt三Pro三vis三ion三as三a三percen三tag三eo三fo三uts三tan三din三gb三ala三nce三s.Pro三ces三sc三ost三/cu三sto三mer三pa三yme三nt三rec三eiv三ed.Num三ber三of三du三nni三ng三let三ter三sa三s%三of三to三tal三in三voi三ces三.Wri三te三off三va三lue三as三%三of三(su三ndr三y)三sal三es三rev三enu三e.Acc三oun三ts三Rec三eiv三abl三eN三ote三sPro三ces三sa三men三dme三ntsCos三tD三riv三ersNum三ber三an三dv三ari三ety三of三qu三eri三es三rec三eiv三ed.Ava三ila三bil三ity三an三df三lex三ibi三lit三yo三fs三tan三dar三ds三cre三ens三.Com三ple三xit三yo三fd三ata三bas三ef三or三tai三lor三-ma三de三que三rie三s.Res三pon三se三tim三es三of三enq三uir三ys三yst三ems三.Use三r-f三rie三ndl三ine三ss三of三enq三uir三ys三yst三ems三.Key三Pe三rfo三rma三nce三In三dic三ato三rsAve三rag三et三ime三ta三ken三to三pr三oce三ss三que三rie三s.Per三cen三tag三eo三fq三uer三ies三an三swe三red三wi三thi三nt三arg三ete三dt三ime三.Acc三oun三ts三Rec三eiv三abl三eN三ote三sPro三ces三sp三eri三od三endBes三tP三rac三tic三eF三eat三ure三sAut三oma三tic三pr三oce三ss三req三uir三ing三mi三nim三um三or三no三man三ual三in三ter三ven三tio三n.三Thi三