ACCORD HEALTHCARE LIMITED
Company number: 04596349
1 April 2022
to 30 September 2022
This report was filed on 31 October 2022
and approved by Stephen Ford
Average time taken to pay invoices: 92 days
- within 30 days: 31%
- in 31 to 60 days: 23%
- in 61 days or more: 46%
Invoices due but not paid within agreed terms: 72 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Standard contractual payment terms vary between 30, 60 & 90 days.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
The Business operates a standard 3-way match for most goods/services
First attempt to settle a payment takes place in the Accounts Payable department via the 3 way match
If a 3 way match is not possible the end user/receiver of the goods/services are contacted by the AP department to resolve the query - at this stage the Purchasing department may also be involved
If end user or Purchasing department cannot resolve the query and manually release the payment the supplier is contacted directly and worked with to resolve the issue
All disputes are aimed to be resovled within the contractual terms where possible
Where goods or services are provided and the process does not require a purchase order, invoices are manually released by the end user or a manager with sufficient authority. In the case of a dispute the end user would resolve with the supplier as per the standared process
Once the dispute is resolved and invoices are accepted and/or credit and new invoices received, the payment is settled
Suppliers should contact the Accounts Payable department with all queries - Accounts@accord-healthcare.com
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?