2
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