财务管理最佳实践之现金管理

Cash Mgmt updateBest Practice Financial Processes: Cash Management2PwC175gCash Management - Best Practice ObjectivesCash Management ObjectivesOrganisationPeopleProcessesControlsMeasuresInformation SystemsØManage short term liquidity and long term funding requirementsØMinimise companys cost of capitalØEfficiently manage the processing of cash transactions ØEffectively forecast cash requirementsØManage petty cash efficientlyØCentralised cash office & poolingØIntegrated with Accounts functionsØRecord/manage receipts and paymentsØManage cash positionØPerform reconciliationsØPerform period end closing & reportingØPolicies & ProceduresØBank liaisonØAuthorisation limitsØInternal controlsØSpeed of reportingØAccuracy of forecastingØReturn on CapitalØIntegrated bank account with sub- ledgersØAutomatic bank reconciliationsØOn-line/real timeØCash forecastingØCash management skillsØLiaison with financial institutions3PwC175gProcess FeaturesØSegregate cash management from accounts receivable and accounts payable functionsØLocalise cash collectionØMinimise level of petty cash requirementsØTransmit mechanisms evaluated on cost and risk basisØCreate netting arrangement with internal business partnersØObtain pan-European banking facilities that allow netting off of account balancesØMap cash collection and payment cycles, identify actions to minimise these periodsØMinimum number of banking relationships maintained to ensure coverage and purchasing powerØClear unmatched cash within 1 dayØRegular reconciliation of all cash books. Maintain petty cash imprest systemsØObtain access to on line bank statementsØMonitor the cost of cash transmission mechanismsØCash balances reported on a daily basis by account and business centresØTreasury determine short term cash requirements from cash forecast and daily reportØCash surpluses managed by TreasuryØPetty cash/foreign currency floats periodically auditedØCompany loan accounts reconciled monthlyØTreasury consolidate and manage cash forecast requirementsØMonitor bank facilities to minimise interest payments and maximise receiptsØForecast cash on a regular basis: rolling 12 month forecast - annual 5 year ahead reviewsCash Management - Best Practice FeaturesEstablish and maintain cash control mechanismsPerform bank reconciliationsReport and manage cash balancesForecast cash requirements4PwC175gSystem FeaturesØEDI used for majority of payments and receiptsØ Comprehensive system security and password features for paymentØMulti-currency systems.ØTransmission used for bank statementsØBank remittance notices issued with sales invoicesØElectronic reconciliation of bank statement and cash bookØCurrency rates available for sterling equivalentsØIndividual bank account cash balance reports produced on a daily basisØSummary consolidated cash reports available on-line to TreasuryØIntercompany netting bank accounts reconciled automaticallyØIntegrated enquiry from cash book entries to sub -ledgersØAutomatic production of cash forecast statements from commitment/accru al accountingØProject analysis and control linked to finance systemsØAnalysis by market share/product cost etcCash Management - Best Practice FeaturesEstablish and maintain cash control mechanismsPerform bank reconciliationsReport and manage cash balancesForecast cash requirements5PwC175gCash Management - Critical Success Factors These are a summary of the key business requirements, which must be met to achieve Cash management objectives.ØElectronic Interfaces with Accounts Payable, Accounts Receivable, Payroll and General LedgerØEstablish and maintain good relations with banksØAgree Finance terms ØReconcile bank accounts on a regular basisØEDI for the majority of payments and receiptsØAutomated bank reconciliation systems and processesØCash monitoring and forecasting techniques provide first class accuracyØIntegrated on line systems to audit trail cash transactionsØOperate minimum petty cash and foreign currency floatsØSeparation of Cash management staff duties from other finance operations6PwC175gCash Management - Measures / Cost DriversMeasuresØCost of CapitalØNumber of bank accountsØNumber of banking relationshipsØNumber of outstanding reconciling items < 3 months oldØDifference of interest rate of cash accounts vs. Money Market rates per currencyØPercentage of cash transactions effected electronicallyØNumber of days in obtaining value for fundsØFloating days per bankØCost of cash function as a percentage of total finance costØNumber of cash transactions per FTEØNumber of unreconciled cash transactionsØNumber of accounts outside cash pooling7PwC175gCash Management - Measures / Cost DriversCost DriversØElectronic payment and receipt mechanismsØNumber of banking locations and bank accountsØNumber of international locationsØSystem interfaces available for cash entriesØTypes of payments and currencies usedØNumber of petty cash sitesØNumber of transac