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last updated: 3rd August 2011
Action Risk Solutions
Payment process not managed

- Late payments leading to complaints of not paying suppliers promptly and payment of financial penalties as permitted under legislation

- Payments made for goods or services not received

- Payment made to the wrong supplier

- Payments are not matched to correct purchase order leading to double accounting

- Loss of prompt payment discounts

- Ensure staff involved with recording goods received documentation and authorising payments are aware of need to do this promptly

- Ensure staff are aware of the importance of carefully checking deliveries for correctness and taking appropriate action where there are errors on problems

- Ensure staff are aware of the need to identify suppliers accurately when identifying suppliers (on orders and invoices authorisations)

- Where purchase order processing is computerised, or order details are uploading into the financial system and the information is used to prepare commitment accounting information – ensure that staff are aware of the importance of accurately quoting order numbers and matching goods received documentation and invoices back to the correct order number

- Ensure staff involved with recording goods received documentation and authorising payments are aware of need to do this promptly

Inadequate separation of duties - Staff open to challenge of inappropriate behaviour - Ensure different staff are involved at the different purchasing phases
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