J.D. WILLIAMS & COMPANY LIMITED
Company number: 00178367
Reporting period:
2 March 2019 to
30 August 2019
This report was filed on 2 October 2019
and approved by Craig Lovelace
Payment statistics
Average time taken to pay invoices: 66 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 48%
- in 61 days or more: 35%
Invoices due but not paid within agreed terms: 61%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Goods for resale – 60 days Goods not for resale – 60 days
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Queries from the Companies suppliers are directed through a central Accounts Payable team. The following service level agreements are in place to ensure we respond to our suppliers within an acceptable time frame: (a) Urgent queries – 24 hours from receipt of query; and (b) Non-urgent queries – 48 hours from receipt of query The initial contact point for suppliers: Suppliers email: Ap@jdwilliams.co.uk Other payment information Query on unpaid invoice • Request outstanding invoice number from the supplier • Search in Accounts Payable system to see if invoice is showing on supplier account • If invoice is present & validated advise supplier of payment date determined by due date • If invoice is not present on the account, check external invoice processing centre (Bancpay) to identify if has been received. if yes, determine reason for rejection and advise supplier of issue, then request invoice to be resent • If invoice has never been received, contact supplier to request a copy to be sent direct to Bancpay reinforcing the Group’s requirements for invoice submission • In some cases, we will request a statement from the supplier showing all outstanding items and use this to reconcile against the supplier account in our Accounts Payable system. Copies of any missing invoices or credits will be requested and sent to Bancpay for processing Query regarding payment received by a supplier • If a supplier queries a payment they have received then we request the supplier bank account details, payment date & amount received by them to search for the transaction in our Accounts Payable system (Oracle) • Accounts Payable will check the relevant payment and advise if it has been paid into the account they have detailed • Accounts Payable will then advise which invoice & credit note number’s the payment was settling Query regarding payment never received • when a supplier advises they have never received the payment detailed in the remittance advice we will locate the relevant payment details in the Accounts Payable system • Accounts Payable will then check to identify whether it has cleared or returned to ourselves by the bank If payment has been returned we will identify the reason for failure and contact the supplier for the correct information, we will then amend the supplier account details when received in writing and resend the failed payment.
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, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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