PANTHER WAREHOUSING LIMITED
Company number: 07068367
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 15 July 2019
and approved by Andy Dale
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 38%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 59 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
30 days
Standard payment terms
30 days from invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
There were no changes to our payment terms however there is a movement in creditor days/% splits in the second half of 2018 and into the first half of 2019. This is driven by a change in accounting system which uses invoice date rather than invoice upload date improving reporting accuracy. Statement reconciliations were also targeted to clear down old invoices and bring supplier accounts up to date.
Dispute resolution process
Invoices are paid based on the quotation of a valid purchase order number. If a valid PO number is not present, the supplier will have to provide one, or the person who raised the PO will have to inform the accounts team. Invoices are held on the system when the purchase order number does not match, and can be tracked and resolved.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
Does this business offer e-invoicing in relation to qualifying contracts? This is where suppliers can electronically submit and track invoices. It’s not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance? This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No