财务管理最佳实践之应收管理(英文版)(ppt 18页).ppt

BestPracticeFinancialProcesses AccountsReceivable AccountReceivable BestPracticeObjectives AccountsReceivableObjectives Organisation People Processes Controls Measures InformationSystems Toensurecustomerpaymentsarereceivedefficientlyandeffectivelyforgoods servicesdelivered withintheagreedtermsandconditionsTomanagecreditriskefficientlywithoutcreatingunnecessarydelaysinthesalescycleTomaintainacompleteandaccuratestatementofoutstandingdebtorsToprovidecompleteforecastinformationtoassistthemanagementofshort termcashrequirements CentralisedprocessingEconomiesofscaleCustomerfocus EstablishcreditlevelsIssuesalesorderIssueinvoiceMonitorcreditCollectcash ProceduresmanualAuthorisationValidation matchingCreditcontrol CostperinvoiceCreditnotespercentageCostperpaymentreceivedDaysdebtoutstanding IntegratedwithsalessystemAutomaticmatchingElectronicreceipts CustomerrelationsLegalframeworkawarenessCreditmanagement AccountsReceivable BestPracticeFeatures ProcessFeatures Formalcreditchecksappliedtoallnewcustomerswithin24hoursusingcreditbureauMonitorcreditstatus termsonregularbasisCustomeraccountmanagersprovidedwithuptodatecreditstatusTreasurypolicysetonlateandpromptpaymentsAuthoritylevelsclearlydefinedCreditpoliciesdefinedandagreedTermsandconditionsagreedwithcustomers ConsolidatedperiodicinvoicingforhighfrequencyshipmentsBankremittancenoticesissuedwithsalesinvoicestofacilitatereconciliationSelfbillinginvoicesbyhighvolumecustomersConsideroutsourcingregularinvoice paymentegutilitiesRegularreviewofinvoicequeriesandcreditnotesReconciliationofARbalancestoGLcontrolaccountsonaregularbasis CreditinsurancearrangementsevaluatedperiodicallyCustomeraccountmanagersresponsibleforsalesandcashcollectionConstantmonitoringofdebtordays dailycollection ageingofdebtCustomercontactrecordsmaintainedOutsourcecashcollectionwhereappropriateDetermineandreportoncredittargetsMonitoroverduedebtsandtakeactionwithinagreedpolicy Establishcreditlevels Issuesalesorder Issueinvoice Monitorcredit collectcash SalesorderspreparedusingpricingdatabasewithpricingprofilesforproductsandcustomersNoorderprocessedwithoutvalidcustomerPOreferenceDeliverynoteactsasinvoiceforlow frequencyshippings AccountsReceivable BestPracticeFeatures Establishcreditlevels Issuesalesorder Issueinvoice Monitorcredit collectcash SystemFeatures ConsolidatedcreditpositionforgroupofcustomersSystemprovideson linecustomerpaymenthistoryandtermsUseofworkflowsoftwaretomonitorprocessandhelpresolvequeriesStandardcreditcontrolreports CommonSOPandARcustomerdatabaseInvoicesautomaticallygeneratedfromSOPandshipmentdataSelfbillinginvoicesautomaticallymatchedtocustomerordersMulticurrencyinvoicesAutomaticcommitmentandaccrualsAutomaticreconciliationfacilitiesbetweenintegratedSOPARandGLsystems SOPlinkedtodebtorsledgertoensurecustomercreditlimitsnotexceededSalesdocumentssentviaEDIforallmajorcustomersIntegratedorder billingsystemsavailableonline hardcopy PaymentsreceivedelectronicallywherepossibleAutomaticmatchingofpaymentstoinvoicesOn linediaryfacilitytomonitorcallsAutomaticflaggingandreportingofhighriskaccountsAutomaticdunninglettersissuedwithinagreedtradingtermsIntegratedsystemstofacilitatecustomerqueryhandlingForecastcashreceiptsavailablefortreasurypurposes AccountsReceivable Trends From To SeparateARmodulePaymentbychequeComplex variabletradingtermsManualmatchingPerformedbyFinancedepartment IntegratedsystemsElectronicpaymentCommontradingtermsforallcustomersAutomaticmatchingSharedoroutsourcedservices AccountsReceivable Measures CostDrivers 90percentile Median 10percentile Numberofcustomerpaymentreceivedperaccountsreceivable FTEperannum 40 300 5 500 700orless Accountsreceivablecostpersalesinvoiceprocessed 10percentile Median 90percentile 1 3 18 Median 1day 90percentile 4days 10percentile 1day Daystoprocessinvoice creditnote ie timebetweenreceiptofinvoice creditnoteandentryintotheaccountingsystem Costdrivers NumberofARreceiptsLevelofmultiplereceiptsUseofdirectdebiting standingordersUseofelectricfundstransferLevelofcreditriskassociatedwithcustomerbaseVarietyinpaymenttermsDegreeofforeigncurrencyreceiptsLevelofcreditnotes Billing Measures CostDrivers 90percentile Median 10percentile NumberofsalesinvoicesgeneratedperbillingFTEperannum 90 000 11 100 1 600 Billingcostpersalesinvoiceandcreditnoteprocessed 10percentile Median 90percentile 1 2 22 Median 2days 90percentile 15days 10percentile 1day Daysfromdespatchofgoodstopreparationofsalesinvoice Costdrivers NumberofinvoicesNumberofcustomersUseofEDIComplexityofservice goodssuppliedVarietyintermsandconditionsComplexityofdiscountsDegreeofforeigncurrencyinvoicingNumberofcomplaintsAccuracy levelofcreditnotes AccountsReceivable Level0ContextDiagram AccountsReceivable Level1Overview AccountsReceivableNotesMaintaincustomerdata BestPracticeFeaturesSendbilltooneaddressonly Whereacustomerisprovidedwithgoodsorservicesatanumberoflocations theconsolidationinthebillingprocessnotonlyreducesthenumberofbillstobeverifiedorcreatedbutalsodecreasesthepotentialneedtoreconcileanumberofreceivablesonindividualaccounts Centralisethecustomerset upprocessinordertoensureconsistency InternalcontrolrequirementsInordertominimisetheriskofduplicationofthedataandtheunauthorisedset upofcustomers theprocessshouldbecentrallycontrolledandoperated Beforeanycustomerisdeletedfromthesystem evidenceshouldbeproducedthatthecustomerhasbeeninactivefortheappropriateperiodoftimeandnooutstandingbalancesarepresent Approvalfordeletionisobtainedbymanagementauthoritysignature Thechangestocustomersreportisregularlycheckedandmonitored Systemnotificationofduplicatebusinessandbirthregistrationnumbers AccountsReceivableNotesMaintaincustomerdata CostDriversNumberofcustomersNumberofnewcustomersNumberofcustomerchangesNumberofrequiredcustomerstandingdatafieldsPossibilityofsharingstandingdatabaseOverlapbetweendatabasesSearchcriteriaandstandardisationtoavoidduplication redundancyKeyPerformanceIndicatorsNumberofchangesandadditionscarriedoutinayearperFTENumberofcustomersinop databasewithouttransactionsfor1yearPercentageofchangesandadditionsoftotalcustomerbase AccountsReceivableNotesManageReceivables BestPracticeFeaturesAgeddebitbalancesshouldbereviewedbymanagementonaregularbasisandexplanationssoughtastowhydebtshavefailedtoberecovered Overduedebitbalancesoccurasaresultanumberoffactorsofsub optimalperformanceswithinthesalesdepartmentorwithinthecreditcontrolprocessorAR infonotrecordedfrombankquicklyenoughandthereforenotprocessedquicklyenoughortimingofinvoiceissue Therootcausesneedtobeaddressedandrectifiedbyalteringthecreditabilitystatusofthecustomer Automaticflaggingandreportingofhighriskaccounts Materialityandtimelimits InternalcontrolrequirementsItisessentialthatdebitbalancesarereviewedregularlyandmatchedwithpaymentspromptlyinordertoavoidtheriskoffraudandminimisethechancesofbaddebt Computerdiaryofactionstaken Stopsplacedonoverduecustomers Ageddebtorreportsenttolegaldepartmentandfunctionalmanagers AccountsReceivableNotesManagereceivables Cont CostDriversNumberofoverdueopenitems Numberofstepsinthedunningprocedure Qualityandtimingofthematchingprocessofreceipts Availabilityofdunningenforcementmeasures Tolerancecriteria Paymenttermsandconditionspolicy KeyPerformanceindicatorsDaysoutstandingasapercentageofaveragepaymentterm Valueofoverdueinvoicesasapercentageofoutstandingbalances BadDebtProvisionasapercentageofoutstandingbalances Processcost customerpaymentreceived Numberofdunninglettersas oftotalinvoices Writeoffvalueas of sundry salesrevenue AccountsReceivableNotesProcessreceiptsanddirectdebits BestpracticefeaturesUseofanelectronicinterfacebetweenbank cashiersandARtreasuryAutomaticmatchingofreceiptsbyvalueandinvoicenumberInternalcontrolrequirementsInterfacecontroltotalwithbankandcashiers dailyRegularsupervisoryreviewofopenandunmatcheditemsDocumentationofalloverdueopenitemsandunmatchedreceipts AccountsReceivableNotesProcessreceiptsanddirectdebits CostDriversNo ofReceiptsformorethanonetransactionPercentageofdownpaymentsQualityofpaymentinformationNumberofunmatchedpaymentsNumberofforeigncurrencyreceiptsandexchangeratedifferencesTolerancepaymentdifferencesNumberofcriteriaforautomaticmatchingKeyPerformanceIndicatorsMonthlyandcumulativetolerancedifferenceamountsPercentageofreceiptsclearedautomaticallyinmonthNumberofmanuallymatchedreceiptsperFTENumberofunmatchedreceiptsolderthan1month AccountsReceivableNotesProcessamendments BestPracticeFeaturesSinglecontactpointforallqueries Althoughthequeryprocessingcanbedistributedthereareobviousinefficienciesindirectingenquiriestoanumberofcontactpoints Haveaccesstosufficientdatatobeabletohandlethemajorityofquerieson line Inthiscontext theuseofimageprocessingallowsinvoicestobecalleduponscreenquicklyand ifnecessary automaticallycopiedtotheenquirerthroughthemediumofautofax InternalcontrolrequirementsInordertooperateaneffectivehelpdesk staffwillrequiretohaveaccesstomostpartsoftheaccountsreceivablesystem Thisshouldbeona readonly basisinordertominimisethepotentialforfraudtakingplace Targetssetfortimetoanswerqueries AccountsReceivableNotesProcessamendments CostDriversNumberandvarietyofqueriesreceived Availabilityandflexibilityofstandardscr