What are
the requirements for reporting tax payments?
|
|||
How do
you record taxes within the GL?
|
|||
Is there
a requirement to support multiple bank accounts?
|
|||
Is there
a requirement to support foreign currency bank accounts?
|
|||
What
disbursement (document) types are currently processed through these bank
accounts?
|
|||
How are
your current payment terms structured?
|
|||
Do you
use percentage due or amount due?
|
|||
Are due
dates calculated based on a specific day of the month or on a number of days
from the payment terms date?
|
|||
Is there
a provision for discounts within the current payment terms?
|
|||
How are
discount dates calculated - based on a specific day of the month or on a
number of days from the payment terms date?
|
|||
Is there
a requirement to use multiple discount levels at present or in the future?
|
|||
How many
different sites issue checks?
|
|||
How many
checks do you write/produce per period?
|
|||
Is there
a requirement to use computer generated checks?
|
|||
What is
your policy to cancel checks?
|
|||
Is there
a requirement to use Electronic Funds Transfers?
|
|||
Is there
a requirement to use Wire Transfers?
|
|||
Is there
a requirement to process Automatic Payments?
|
|||
Is there
a requirement to process Manual Payments? If so, is a separate bank account
used?
|
|||
Is there
a requirement to process Partial Payments?
|
|||
Is there
a requirement to process Pre-Payments?
|
|||
Is there
a requirement to process Recurring Payments?
|
|||
Is there
a requirement to process ‘Quick Checks’?
|
|||
Do you
have a priority system for payments?
|
|||
Would
you use a priority system for payments?
|
|||
What is
your current payment cycle? (How often do you print checks?)
|
|||
If
recurring payments are used, what is the normal period cycle for these
payments?
|
|||
Are all
invoices paid in local currency?
|
|||
Is/will
there be a requirement to use multiple currencies?
|
|||
Do check
payments have to be approved before they are run?
|
|||
Do you
have a minimum or maximum payment amount per check?
|
|||
Do you
have a minimum or maximum payment amount per run?
|
|||
What is
the current check layout for computer generated checks? How many formats do
you have?
|
|||
Do you
print the check number on the check/remittance or is it pre-printed?
|
|||
Should a
remittance advice note be produced, and when?
|
|||
How
should an overflow situation be handled?
|
|||
Is there
any special sequencing of checks when printing?
|
|||
Is there
a dedicated printer for checks?
|
|||
What
type of printer is used for checks?
|
|||
Where
are the pre-printed checks stored?
|
|||
Is there
a requirement to restrict the access to the check printing function?
|
|||
What are
the policy/procedures for handling stop payments?
|
|||
What are
the policy /procedures for handling void payments if they have been
recorded?
|
|||
What are
the policy /procedures for handling void payments if they have not been
recorded?
|
|||
Banks/Cash
Management
|
|||
Who do
you bank with. List all of your bank accounts and their purpose.
|
|||
Describe
your cash management (bank reconciliation) process
|
|||
Period
Processing Open/Close Periods
|
|||
How
often do you "post" information to your General Ledger?
|
|||
Do you
use Cash or Accrual Based Accounting?
|
|||
Do you
post (or wish to post) in detail or in summary to the General Ledger?
|
|||
When do
you start your AP close?
|
|||
Do you
have any documentation on your AP close? Please provide.
|
|||
Do you
allow posting invoices back to prior periods?
|
|||
If you
have multiple organizations, do they all close at the same time or
separately?
|
|||
Reporting
|
|||
Reporting
|
|||
For the
purpose of Invoice Aging Reports, what aging periods are currently in use?
|
|||
Is there
a requirement to produce ‘Key Indicators’ Reports to review productivity and
pinpoint problem areas?
|
|||
June 14, 2016
