Company number: 06923682
and approved by Robert Bell-Davies
Average time taken to pay invoices: 30 days
Invoices paid:
Invoices due but not paid within agreed terms: 68%
30 days
60 days
Suppliers are providing services or deliver goods on credit terms, which means payment should be made after goods or service been delivered. Wast majority of invoices have got 30 days as standard payment terms, which means inv is due for payment after 30 days from tax point (inv day)
Answer not provided
N/A
60 days
N/A
N/A
If goods or services been delivered and invoice been sent to Accounts Payable team, inv should be paid with agreed payment terms. If there is issue with goods (such as damage during delivery) or wrong prices inv will be putted on hold and supplier will be contacted by requestor of goods or services. Supplier then should send revised inv or credit note against existing inv (full or partial). If full credit been raised against existing inv, it should be recorded in ERP system and inv should be rejected. If partial credit been raised, inv less partial credit should be authorised for payment by BACS/CHAPS or SEPA. Once payment is completed supplier will receive funds and remittance advice
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No