GOV.UK
GRESHAM'S SCHOOL
Company number: 05196298
Reporting period:
1 September 2019
to 29 February 2020
This report was filed on 10 March 2020
and approved by Steven Willis
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 30%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 31 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
• Standard contractual length for payment of invoices is 30 days unless requested to be less by the supplier in which case this is considered and usually accepted. Prior to making payment authorisation from the budget holder is required. If invoice is received soon after invoice date there is sufficient time to make the payment. If the invoice is delayed in getting to us this cuts the time available to make payment within 30 days of the invoice date, but we always endeavour to meet that date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
• Maximum contractual payment period is 60 days where suppliers request payment by the end of the following month from invoice date. There have not been any changes to the standard payment terms during the period; this is an amendment to the previous month based upon understanding of some supplier terms. These suppliers are on the system as 60 days.
Any other information about payment terms
N/A
Dispute resolution process
• The business process for resolving disputes related to payment is as follows:
o Purchase ledger administrator speaks with supplier to determine which invoices they deem not to have been paid.
o The purchase ledger administrator will first check if the invoices are on our system. If they are not copy invoices are requested and noted with the supplier that we will not be able to pay them until the budget holder has authorised them. Also noted that future invoices should be sent via email to the purchase ledger administrator wherever possible to ensure they don’t get lost in future.
o If invoices are on our system and authorised, purchase ledger administrator will see when they are due for payment. BACS runs operate mid month and end of month and if supplier is happy to wait for next BACS run, this is what will happen. If quicker payment is required, this will be instigated and supplier will be paid within three working days.
o If invoices are on our system and not yet authorised, purchase ledger administrator will chase authorisation from the budget holder so they can be paid within a week.
o If credit notes are being sought against goods or services received, the purchase ledger will speak with the supplier on behalf of the budget holder, or the budget holder will speak with the supplier directly.
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.
Yes
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