QA LIMITED
Company number: 02413137
Reporting period:
1 June 2021 to 30 November 2021
Report filed on:
13 December 2021
Approved by:
Nathan Runnicles
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 65%
- in 31 to 60 days: 24%
- in 61 days or more: 11%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are 30 days from the supplier invoice date. We perform weekly payment runs.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
45 days from course start date
Any other information about payment terms
Whilst 35% of invoices appear not to be paid within the agreed terms, we have a proportion of suppliers set to immediate payment terms, which will always, in effect, be paid late due to us making weekly payment runs. Our reported statistics exclude rent payments.
Dispute resolution process
Invoices are processed on receipt and matched with purchase orders. Where there are invoice or payment queries our Accounts Payable team will notify the supplier and efforts will be made to resolve any dispute promptly. Any invoice without a valid purchase order is queried with the supplier.
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 Fair 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.
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