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普华永道--财务管理最佳实践之应收管理共19页

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普华永道--财务管理最佳实践

普华永道--财务管理最佳实践

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Fixed Assets - Best Practice Objectives
Fixed Assets Objectives
To maintain a complete register of all the organisation’s fixed assets which reflects location, age, current values, associated cost centres To calculate depreciation consistently with financial reporting requirements To optimise replacement policies To minimise ownership costs
Organisation
Asset recording integrated with maintenance and non financial data Centralised asset accounting Asset ownership devolved to business unit level
People
Control focused Challenge asset requisition proposals
Processes
Maintain asset register Acquisitions and disposals Depreciation charge Verifying asset base Maintaining of valuation basis
普华永道-财务管理最佳实践之应收管理 (2)-精品文档

普华永道-财务管理最佳实践之应收管理 (2)-精品文档


Process Features

Formal credit checks applied to all new customers within 24 hours using credit bureau Monitor credit status/terms on regular basis Customer account managers provided with up to date credit status Treasury policy set on late and prompt payments Authority levels clearly defined Credit policies defined and agreed Terms and conditions agreed with customers

Consolidated periodic invoicing for high frequency shipments Bank remittance notices issued with sales invoices to facilitate reconciliation Self billing invoices by high volume customers Consider outsourcing regular invoice/payment eg utilities Regular review of invoice queries and credit notes

Accounts Receivable Objectives


Customer relations Legal framework awareness Credit management
普华永道应收帐最佳实践流程

普华永道应收帐最佳实践流程

To provide complete forecast information to assist the management of short-term cash requirements
2
People
Customer relations Legal framework
awareness Credit management
On-line diary facility to monitor calls
Automatic flagging and reporting of high risk accounts
Automatic dunning letters issued within agreed trading terms
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
department
5
To
Integrated systems Electronic payment Common trading terms for all
customers Automatic matching Shared or outsourced services
PwC175c
eg utilities
Regular review of invoice queries and credit notes
普华永道--财务管理最佳实践

普华永道--财务管理最佳实践

business unit level
Fixed Assets Objectives
People
➢ Control focused ➢ Challenge asset requisition
proposals
Processes
➢ Maintain asset register ➢ Acquisitions and disposals ➢ Depreciation charge ➢ Verifying asset base ➢ Maintaining of valuation basis
➢ Ensure asset responsibility at BU level ➢ Identify asset usage
➢ Ensure BU responsibility for assets in their use and for disposal losses
➢ Depreciate at point of asset use
➢ Apply depreciation rules to asset classes
➢ Depreciation rates in management accounts in line with statutory rates
➢ Links asset depreciation to production and product costs/development
➢ Monitor asset maintenance charges
➢ Report on acquisitions and disposals on a monthly basis
➢ Apply insurance valuation to key assets
普华永道-财务管理最佳实践之应收管理-PPT精品文档19页

普华永道-财务管理最佳实践之应收管理-PPT精品文档19页

No order processed without valid customer PO reference
Consolidated periodic invoicing for high frequency shipments
Bank remittance notices issued with sales invoices to facilitate reconciliation
Automatic reconciliation facilities between integrated SOP AR and GL systems
Integrated systems to facilitate customer query handling
Forecast cash receipts available for treasury purposes
Measures
Cost per invoice Credit notes
percentage Cost per payment
received Days debt
outstanding
3
Accounts Receivable - Best Practice Features
Establish credit levels
Accounts Receivable - Best Practice Features
Establish credit levels
Issue sales order
Issue invoice
4
Monitor credit/ collect cash
Consolidated credit position for group of customers
普华永道——应收帐最佳流程共28页文档

普华永道——应收帐最佳流程共28页文档

➢ Customer contact records maintained
Processes
➢ Establish credit levels ➢ Issue sales order ➢ Issue invoice ➢ Monitor credit ➢ Collect cash
Accounts Receivable
Objectives
➢ To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
➢ To provide complete forecast information to assist the management of short-term cash requirements
➢ Customer relations ➢ Legal framework awareness ➢ Credit management
➢ Credit insurance arrangements evaluated periodically
➢ Customer account managers responsible for sales and cash collection
➢ Constant monitoring of debtor days, daily collection, ageing of debt
Information Systems
➢ Integrated with sales system
➢ Automatic matching ➢ Electronic receipts
普华永道-财务管理最佳实践之应收管理 (2)共19页

普华永道-财务管理最佳实践之应收管理 (2)共19页


£2
11,100
1,600
90 percentile
Median
10 percentile
Days from despatch of goods to preparation of sales invoice
Authority levels clearly defined
Credit policies defined and agreed
Terms and conditions agreed with customers
Sales orders prepared using pricing database with pricing profiles for products and customers
Processes
Establish credit levels Issue sales order Issue invoice Monitor credit Collect cash
Accounts Receivable
Objectives
To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
Automatic reconciliation facilities between integrated SOP AR and GL systems
Integrated systems to facilitate customer query handling
Forecast cash receipts available for treasury purposes
普华永道应收帐最佳实践流程

普华永道应收帐最佳实践流程


<1 day
1 day
4 days
10 percentile
Median
90 percentile
PwC175c
<£1 10 percentile
Median
£18 90 percentile
Cost drivers
Number of AR receipts Level of multiple receipts Use of direct debiting/standing orders Use of electric funds transfer Level of credit risk associated with customer base Variety in payment terms Degree of foreign currency receipts Level of credit notes
Authority levels clearly defined
Credit policies defined and agreed
Terms and conditions agreed with customers
Sales orders prepared using pricing database with pricing profiles for products and customers
Monitor credit status/terms on regular basis
Customer account managers provided with up to date credit status
Treasury policy set on late and prompt payments
普华永道应收帐最佳实践流程

普华永道应收帐最佳实践流程

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➢ Customer contact records maintained
➢ Outsource cash collection where appropriate
➢ Determine and report on credit targets
➢ Monitor overdue debts and take action within agreed policy
Measures
➢ Cost per invoice ➢ Credit notes
percentage ➢ Cost per payment
received ➢ Days debt outstanding
2
Accounts Receivable - Best Practice Features
Establish credit levels
Account Receivable - Best Practice Objectives
Organisation
➢ Centralised processing ➢ Economies of scale ➢ Customer focus
Processes
➢ Establish credit levels ➢ Issue sales order ➢ Issue invoice ➢ Monitor credit ➢ Collect cash
Accounts Receivable
Objectives
➢ To ensure customer payments are received efficiently and effectively for goods/services delivered, within the agreed terms and conditions
➢ To provide complete forecast information to assist the management of short-term cash requirements
1
People
➢ Customer relations ➢ Legal framework awareness ➢ Credit management
using pricing database
invoicing for high
with pricing profiles for
frequency shipments
products and customers
➢ Bank remittance notices
➢ No order processed
➢ To manage credit risk efficiently without creating unnecessary delays in the sales cycle
➢ To maintain a complete and accurate statement of outstanding debtors
invoice for low-frequency
shippings
➢ Consider outsourcing
regular invoice/payment
eg utilities
➢ Regular review of invoice queries and credit notes
➢ Reconciliation of AR balances to GL control accounts on a regular basis
Information Systems
➢ Integrated with sales system
➢ Automatic matching ➢ Electronic receipts
PwC175c
Controls
➢ manual ➢ Authorisation ➢ Validation/matching ➢ Credit control
PwC175c
Accounts Receivable - Best Practice Features
➢ Credit insurance arrangements evaluated periodically
➢ Customer account managers responsible for sales and cash collection
➢ Constant monitoring of debtor days, daily collection, ageing of debt
Issue sales order
Issue invoice
Monitor credit/ collect cash
Process Features
➢ Formal credit checks applied to all new customers within 24 hours using credit bureau
➢ Authority levels clearly defined
➢ Credit policies defined and agreed
➢ Terms and conditions agreed with customers
➢ Sales orders prepared
➢ Consolidated periodic
issued with sales invoices
without valid customer PO to facilitate reconciliation
reference
➢ Self billing invoices by
➢ Delivery note acts as
high volume customers
➢ Monitor credit status/terms on regular basis
➢ Customer account managers provided with up to date credit status
➢ Treasury policy set on late and prompt payments