AP FUNCTIONALITY
Normal ap functionality
After receiving the invoice, we will check the LPO (quantity and rate) and good received note (GRN)
and verify with the quotations from business to check if the correct quotation has been picked.
Process 2 method
1st method business unit creates a liability in IMPACT system
1)Supplier receives a service request (PO) from the business unit
2 Supplier delivers the goods and Invoice
3) Business unit creates a liablity in the system
3)Supplier logs onto the impact system and he enter the invoice details in the self invoicing portal.
4) If invoice details matches with the liablity created the invoice gets paid through the daily pay run.
2nd method -No liablity has been created by the business Agile
Supplier provides a soft copy invoice submission in the AP ho email and a team captures the invoice
in agile system.
Then AP concerned team will send this further certification and approval to the business unit
Once business unit approves the invoice , invoice will come back to AP for verfification we will check
the cost center and nominal and we will release the payment.The limit for invoice approval is 25
k.Above that it has to goto the manager or controller for approval.
1)Supplier satisfaction
2) collaboration-ap is the middle man to collaborate between business unit and supplier to
mitigate any issues.
3)im always treating the supplier as a customer as he has already provided the service to us.
Perform month end analysis
I have been already allocated to do monthly 8 suppliers account statement reconciliation.After the
reco I need to coordinate with the supplier and business both to share the findings and advise
them to take necessary actions.
Findings
I have paid for an invoice but the supplier has not removed from his statement of accounts.
The supplier has not submitted the invoice as a result of which invoice is not appearing in books
Business unit has not raised liability as a result of which invoice is not appearing in our books but
is appearing in supplier books.
Reconcilliation means matching customer books with ours.
Accruals means debiting the expense account and crediting to accruals for invoices which are
expected to come next month.
Compliance
Fulfil payment on time
Risk
One big risk is if are unable to be complaint there the risk starts.
Eg-if I don’t make the payments on time the supplier will stop the supply.Eg fuel
Eg hotels will not honor if we didn’t pay them