Company number: 03476432
and approved by Charlie McLean
Average time taken to pay invoices: 20 days
Invoices paid:
Invoices due but not paid within agreed terms: 15%
7 days
60 days
Most suppliers are 30 days standard terms, however we have a few who are 14 days, and one of our larger suppliers has one account which is 60 day terms. Intercompany balances are not settled. Therefore excluding these from the payments due but not paid in reporting period results in 2% unpaid.
Answer not provided
N/A
60 days
No further comment provided
N/A
The Accounts payable clerk will contact the supplier within 48 hours of an issue being raised. The issue is communicated via email to allow an audit trail and then by phone if no response received. Any queries which cannot be resolved directly by the AP clerk are reviewed by the raiser of the invoice, followed by management involvement if required.
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.
No
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