PwC175b(1)

Accounts Payable

Objectives

Organisation

People

Processes

Controls

Measures

Information Systems



To maximise processing efficiency



To ensure invoices are processed to
agreed terms



To ensure payments made only when due
and payable



To ensure liabilities are fully recorded and
distributed correctly



To achieve effective balance between
extending credit and maintaining good
relations with suppliers



To take full advantage of opportunities to
recover VAT



Centralised processing



Outsourcing potential



Maintaining
supplier details



Process vouchers



Process payments



Period end
processing and
reporting



Authorisation rules



System access
controls



User procedures



Validation and
matching rules



Speed of
processing supplier
amendments



Invoices processed



Invoice processing
time



Number of
payments



Period end closure
time



Interface between
Accounts Payable
and other related
processes



Shared employee
and supplier details



System validation
and approval checks



Supplier relations



Creditor control

Accounts Payable - Best Practice Objectives