财务管理最佳实践之现金管理

1、Cash Mgmt updateBest Practice Financial Processes: Cash Management2PwC175gCash Management - Best Practice ObjectivesCash Management ObjectivesOrganisationPeopleProcessesControlsMeasuresInformation SystemsManage short term liquidity and long term funding requirementsMinimise companys cost of capitalEfficiently manage the processing of cash transactions Effectively forecast cash requirementsManage petty cash efficientlyCentralised cash office & poolingIntegrated with Accounts functionsRecord/manag

2、e receipts and paymentsManage cash positionPerform reconciliationsPerform period end closing & reportingPolicies & ProceduresBank liaisonAuthorisation limitsInternal controlsSpeed of reportingAccuracy of forecastingReturn on CapitalIntegrated bank account with sub- ledgersAutomatic bank reconciliationsOn-line/real timeCash forecastingCash management skillsLiaison with financial institutions3PwC175gProcess FeaturesSegregate cash management from accounts receivable and accounts payable functionsLo

3、calise cash collectionMinimise level of petty cash requirementsTransmit mechanisms evaluated on cost and risk basisCreate netting arrangement with internal business partnersObtain pan-European banking facilities that allow netting off of account balancesMap cash collection and payment cycles, identify actions to minimise these periodsMinimum number of banking relationships maintained to ensure coverage and purchasing powerClear unmatched cash within 1 dayRegular reconciliation of all cash books.

4、 Maintain petty cash imprest systemsObtain access to on line bank statementsMonitor the cost of cash transmission mechanismsCash balances reported on a daily basis by account and business centresTreasury determine short term cash requirements from cash forecast and daily reportCash surpluses managed by TreasuryPetty cash/foreign currency floats periodically auditedCompany loan accounts reconciled monthlyTreasury consolidate and manage cash forecast requirementsMonitor bank facilities to minimise

5、 interest payments and maximise receiptsForecast 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 FeaturesEDI used for majority of payments and receipts Comprehensive system security and password features for paymentMulti-currency systems.Transmission used for bank statementsBank re

6、mittance notices issued with sales invoicesElectronic reconciliation of bank statement and cash bookCurrency rates available for sterling equivalentsIndividual bank account cash balance reports produced on a daily basisSummary consolidated cash reports available on-line to TreasuryIntercompany netting bank accounts reconciled automaticallyIntegrated enquiry from cash book entries to sub -ledgersAutomatic production of cash forecast statements from commitment/accru al accountingProject analysis a

7、nd control linked to finance systemsAnalysis 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.Electronic Interfaces with Accounts Payable, Accounts Receivable, Payroll and General Ledge

8、rEstablish and maintain good relations with banksAgree Finance terms Reconcile bank accounts on a regular basisEDI for the majority of payments and receiptsAutomated bank reconciliation systems and processesCash monitoring and forecasting techniques provide first class accuracyIntegrated on line systems to audit trail cash transactionsOperate minimum petty cash and foreign currency floatsSeparation of Cash management staff duties from other finance operations6PwC175gCash Management - Measures /

9、Cost DriversMeasuresCost of CapitalNumber of bank accountsNumber of banking relationshipsNumber of outstanding reconciling items 3 months oldDifference of interest rate of cash accounts vs. Money Market rates per currencyPercentage of cash transactions effected electronicallyNumber of days in obtaining value for fundsFloating days per bankCost of cash function as a percentage of total finance costNumber of cash transactions per FTENumber of unreconciled cash transactionsNumber of accounts outside cash pooling7PwC175gCash Management - Measures / Cost DriversCost DriversElectronic payment and receipt mechanismsNumber of banking locations and bank accountsNumber of international locationsSystem interfaces available for cash entriesTypes of payments and currencies usedNumber of petty cash sitesNumber of transac

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