某咨詢-應(yīng)收帳最佳流程

1、Best Practice Financial Processes: Accounts Receivable第一頁，共二十七頁。Account Receivable - Best Practice ObjectivesAccounts Receivable ObjectivesOrganisationPeopleProcessesControlsMeasuresInformation SystemsTo ensure customer payments are received efficiently and effectively for goods/services delivered,

2、within the agreed terms and conditionsTo manage credit risk efficiently without creating unnecessary delays in the sales cycleTo maintain a complete and accurate statement of outstanding debtorsTo provide complete forecast information to assist the management of short-term cash requirementsCentralis

3、ed processingEconomies of scaleCustomer focusEstablish credit levelsIssue sales orderIssue invoiceMonitor creditCollect cashProcedures manualAuthorisationValidation/matchingCredit controlCost per invoiceCredit notes percentageCost per payment receivedDays debt outstandingIntegrated with sales system

4、Automatic matchingElectronic receiptsCustomer relationsLegal framework awarenessCredit management第二頁，共二十七頁。Accounts Receivable - Best Practice FeaturesProcess FeaturesFormal credit checks applied to all new customers within 24 hours using credit bureau Monitor credit status/terms on regular basis Cu

5、stomer account managers provided with up to date credit statusTreasury policy set on late and prompt paymentsAuthority levels clearly definedCredit policies defined and agreedTerms and conditions agreed with customersConsolidated periodic invoicing for high frequency shipmentsBank remittance notices

6、 issued with sales invoices to facilitate reconciliationSelf billing invoices by high volume customersConsider outsourcing regular invoice/payment eg utilitiesRegular review of invoice queries and credit notesReconciliation of AR balances to GL control accounts on a regular basisCredit insurance arr

7、angements evaluated periodically Customer account managers responsible for sales and cash collectionConstant monitoring of debtor days, daily collection, ageing of debtCustomer contact records maintainedOutsource cash collection where appropriateDetermine and report on credit targetsMonitor overdue

8、debts and take action within agreed policyEstablish credit levelsIssue sales orderIssue invoiceMonitor credit/ collect cashSales orders prepared using pricing database with pricing profiles for products and customers No order processed without valid customer PO referenceDelivery note acts as invoice

9、 for low-frequency shippings第三頁，共二十七頁。Accounts Receivable - Best Practice FeaturesEstablish credit levelsIssue sales orderIssue invoiceMonitor credit/ collect cashSystem FeaturesConsolidated credit position for group of customersSystem provides on-line customer payment history and termsUse of workfl

10、ow software to monitor process and help resolve queriesStandard credit control reportsCommon SOP and AR customer databaseInvoices automatically generated from SOP and shipment dataSelf billing invoices automatically matched to customer ordersMulti currency invoicesAutomatic commitment and accrualsAu

11、tomatic reconciliation facilities between integrated SOP AR and GL systemsSOP linked to debtors ledger to ensure customer credit limits not exceededSales documents sent via EDI for all major customersIntegrated order & billing systems available on line & hard copyPayments received electronically whe

12、re possibleAutomatic matching of payments to invoicesOn-line diary facility to monitor callsAutomatic flagging and reporting of high risk accountsAutomatic dunning letters issued within agreed trading termsIntegrated systems to facilitate customer query handlingForecast cash receipts available for t

13、reasury purposes第四頁，共二十七頁。Accounts Receivable - TrendsFromToSeparate AR modulePayment by chequeComplex/variable trading termsManual matchingPerformed by Finance departmentIntegrated systemsElectronic paymentCommon trading terms for all customersAutomatic matchingShared or outsourced services第五頁，共二十七

14、頁。Accounts Receivable - Measures/Cost Drivers90 percentileMedian10 percentileNumber of customer payment received per accounts receivable FTE per annum40,3005,500700 or lessAccounts receivable cost per sales invoice processed10 percentileMedian90 percentile1318Median1 day90 percentile4 days10 percent

15、ile1 dayDays to process invoice/credit note (ie, time between receipt of invoice/credit note and entry into the accounting system)Cost driversNumber of AR receiptsLevel of multiple receiptsUse of direct debiting/standing ordersUse of electric funds transferLevel of credit risk associated with custom

16、er baseVariety in payment termsDegree of foreign currency receiptsLevel of credit notes第六頁，共二十七頁。Billing - Measures/Cost Drivers90 percentileMedian10 percentileNumber of sales invoices generated per billing FTE per annum 90,00011,1001,600Billing cost per sales invoice and credit note processed10 per

17、centileMedian90 percentile1222Median2 days90 percentile15 days10 percentile1 dayDays from despatch of goods to preparation of sales invoiceCost driversNumber of invoicesNumber of customersUse of EDIComplexity of service/goods suppliedVariety in terms and conditionsComplexity of discountsDegree of fo

18、reign currency invoicingNumber of complaintsAccuracy/level of credit notes第七頁，共二十七頁。Accounts Receivable - Level 0 Context DiagramAccountsReceivableBillsAdhoc invoices & standing dataReminders &StatementsGLPostingsGeneral LedgerCustomersBankManual InvoicesBilling SystemStandingDataPayments(cash, cheq

19、ue)Direct DebitInstructionsStatementsPayment details(Bank Giro credits)Customer Services SystemAlso electronic AP/AR data from bank for auto cash management第八頁，共二十七頁。Accounts Receivable - Level 1 OverviewCustomerStandingData , Bills& Credit NotesAR StaffAR systemBilling systemCustomerdetailsAR data

20、import proceduresInterface RulesAR StaffBilling systemAR systemCustomer DataLogged on ARSystemInvoice/credit noteentry rules,Bills and credit notes loading proceduresAR StaffAR SystemBills & credit notesManual invoice request Customermaintenanceprocedures, Customer relationshiprulesImport standing d

21、ata, bills & credit notesAR 1.1Maintain customer dataAR 1.2Process bills, invoices & credit notesAR 1.3DatavalidationreportCustomer reportManage receivablesAR 1.4Process receipts and direct debitsAR 1.5Process period endAR 1.7Credit control policies and procedures,Call logging procedures,Provision c

22、reation rules,Legal proceedings rulesAR staffAR systemCredit controlOpen invoiceson AR systemPrint invoices despatchedGL updatesOutstandingdebtorsCheque and receipts processing rules,Automatic allocation rules,Manual allocation rules,On account payment rulesCash/cheque/bank receiptsList of DD custom

23、ers amounts dueAR staffAR systemBank statementTransaction dataReview procedures,Archiving rules,Period data proceduresAR staffAR systemPayment on accountlogged on AR systemMatched DDreceipts logged on AR systemRequest to bankProcess amendmentsAR 1.6New periodopenedon AR systemPeriod endGL postingsMa

24、tchedreceiptsarchivedPeriod reportsproducedAmendment ofvalidation rules,Amendment inputproceduresAdjustmentsAmendmentsGL updatesAudit reportDebtor reportDunningletter/statementAmendment request, notify departmentProvision journals第九頁，共二十七頁。Accounts Receivable Notes Maintain customer dataBest Practic

25、e FeaturesSend bill to one address only. Where a customer is provided with goods or services at a number of locations, the consolidation in the billing process not only reduces the number of bills to be verified or created but also decreases the potential need to reconcile a number of receivables on

26、 individual accounts. Centralise the customer set-up process in order to ensure consistency.第十頁，共二十七頁。Accounts Receivable Notes Maintain customer dataInternal control requirementsIn order to minimise the risk of duplication of the data and the unauthorised set-up of customers, the process should be

27、centrally controlled and operated. Before any customer is deleted from the system, evidence should be produced that the customer has been inactive for the appropriate period of time and no outstanding balances are present. Approval for deletion is obtained by management authority signature.The chang

28、es to customers report is regularly checked and monitored.System notification of duplicate business and birth registration numbers. 第十一頁，共二十七頁。Accounts Receivable Notes Maintain customer dataCost DriversNumber of customersNumber of new customersNumber of customer changesNumber of required customer s

29、tanding data fields Possibility of sharing standing databaseOverlap between databasesSearch criteria and standardisation to avoid duplication/redundancy第十二頁，共二十七頁。Accounts Receivable Notes Maintain customer dataKey Performance IndicatorsNumber of changes and additions carried out in a year per FTENu

30、mber of customers in op. database without transactions for 1 yearPercentage of changes and additions of total customer base第十三頁，共二十七頁。Accounts Receivable Notes Manage ReceivablesBest Practice FeaturesAged debit balances should be reviewed by management on a regular basis and explanations sought as t

31、o why debts have failed to be recovered.Overdue debit balances occur as a result a number of factors of sub-optimal performances within the sales department or within the credit control process or AR - info not recorded from bank quickly enough and therefore not processed quickly enough or timing of

32、 invoice issue. The root causes need to be addressed and rectified by altering the creditability status of the customer.Automatic flagging and reporting of high risk accounts.Materiality and time limits.第十四頁，共二十七頁。Accounts Receivable Notes Manage ReceivablesInternal control requirementsIt is essenti

33、al that debit balances are reviewed regularly and matched with payments promptly in order to avoid the risk of fraud and minimise the chances of bad debt.Computer diary of actions taken. Stops placed on overdue customers.Aged debtor report sent to legal department and functional managers.第十五頁，共二十七頁。

34、Accounts Receivable Notes Manage receivables (Cont)Cost DriversNumber of overdue open items.Number of steps in the dunning procedure.Quality and timing of the matching process of receipts.Availability of dunning enforcement measures.Tolerance criteria.Payment terms and conditions policy.第十六頁，共二十七頁。A

35、ccounts Receivable Notes Manage receivables (Cont)Key Performance indicatorsDays outstanding as a percentage of average payment term.Value of overdue invoices as a percentage of outstanding balances.Bad Debt Provision as a percentage of outstanding balances.Process cost/customer payment received.Num

36、ber of dunning letters as % of total invoices.Write off value as % of (sundry) sales revenue.第十七頁，共二十七頁。Accounts Receivable Notes Process receipts and direct debitsBest practice featuresUse of an electronic interface between bank, cashiers and AR treasuryAutomatic matching of receipts by value and i

37、nvoice number Internal control requirementsInterface control total with bank and cashiers, dailyRegular supervisory review of open and unmatched itemsDocumentation of all overdue open items and unmatched receipts第十八頁，共二十七頁。Accounts Receivable Notes Process receipts and direct debitsCost DriversNo. o

38、f Receipts for more than one transactionPercentage of downpaymentsQuality of payment informationNumber of unmatched paymentsNumber of foreign currency receipts and exchange rate differencesTolerance payment differencesNumber of criteria for automatic matching第十九頁，共二十七頁。Accounts Receivable Notes Mana

39、ge receivables (Cont)Key Performance indicatorsDays outstanding as a percentage of average payment term.Value of overdue invoices as a percentage of outstanding balances.Bad Debt Provision as a percentage of outstanding balances.Process cost/customer payment received.Number of dunning letters as % o

40、f total invoices.Write off value as % of (sundry) sales revenue.第二十頁，共二十七頁。Accounts Receivable Notes Process amendmentsBest Practice FeaturesSingle contact point for all queries. Although the query processing can be distributed there are obvious inefficiencies in directing enquiries to a number of c

41、ontact points.Have access to sufficient data to be able to handle the majority of queries on-line. In this context, the use of image processing allows invoices to be called up on screen quickly and, if necessary, automatically copied to the enquirer through the medium of autofax.第二十一頁，共二十七頁。Accounts

42、 Receivable Notes Manage receivables (Cont)Key Performance indicatorsDays outstanding as a percentage of average payment term.Value of overdue invoices as a percentage of outstanding balances.Bad Debt Provision as a percentage of outstanding balances.Process cost/customer payment received.Number of

43、dunning letters as % of total invoices.Write off value as % of (sundry) sales revenue.第二十二頁，共二十七頁。Accounts Receivable Notes Process amendmentsCost DriversNumber and variety of queries received.Availability and flexibility of standard screens.Complexity of database for tailor-made queries.Response times of enquiry systems.User-friendl