3
PwC175b(1)
Accounts Payable - Best practice features
Authorise and
set up new
suppliers
payment details
Maintain
supplier
payment details
Segregation of
duties between
supplier set up,
voucher
processing and
payment
processing
Accounts payable
process vouchers:
invoices, expense
claims, credit
notes, debit memos
and prepayment
requests
Suppliers required
to use PO number
on all documents
and three way
match wherever
possible
Consolidated
periodic invoicing
for high frequency
suppliers
Process Features
Maintain supplier
details
Process vouchers
Optimisation of
early payment
discounts
Payment runs
properly
authorised
Process payments
All transactions
completed
before period
closed
Reconciliation of
Accounts
Payable activity
and
reconciliation
with General
Ledger control
account
Management
reports run
once period is
finally closed
Period end
processing
and reporting