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Payment Processs Comparison
Payment Processs Comparison
Payment Processs Comparison
US-AP-Payment
Settlement
Current Process
SSC performs weekly settlement runs for all 7 companies every Wednesday.
According to the new process, SSC performs the weekly settlements without any changes as per the current settlement payment process, except for the last
payment run of each month.
Scheduled Week Payments inculdes
WD1 - ( additional pay run) - Media (Payment due till : Last day of the previous month)
Week1 = Trade invoices,Intercompany invoices,Media,Employee Payment
Week2 = Trade invoices,Intercompany invoices,Media,Employee Payment
Week3 = Trade invoices,Intercompany invoices,Media,Employee Payment
Week4 = Trade invoices,Intercompany invoices,Media, Employee Payment
Exceptions
1.Do not pay Intercompany invoices, after date 20th of each month.( For All BU )
2. Payment Type- There should not be Check payment for intercompany invoices.(For All BU)
3.Supplier Group - Intercompany and Contingent worker we have to Pay the invoices even though invoices are on hold.(For All BU)
4.Do not pay Costa Rica after every 15th of Month.(For All BU)
5.Supplier Ready Hit keep on hold from all entity ( For All BU )
6.We have to pay for supplier American Express even though invoices are on Hold ( For All BU )
7.If Payment type is Manual & Direct deposit we have to keep those invoices on hold and need to take confirmation from on-shore team for further processing.
( For All BU )
8.Please do not pay to supplier Acceleration eMarketing (Pty) Limited ( For All BU )
9.Please pay to supplier WT LLC Operations 1.2 even though its on hold until all invoices for under supplier record are cleared ( For All BU )
10.Please check for the Supplier WPP Group USA this should not picked up in SR but in WPP Group USA for PEP supplier we need to PAY the invoice ( For All BU )
11.We have to pay for supplier Extreme Reach, Inc., Extreme Reach Talent, Inc ,Extreme Reach Services Group, LLC when there is hold due to pay when paid
policy.( For All BU )
12.For BU BU00034 if supplier Google, Extreme reach and Amazon is on hold then we have to pay that invoices.(Only WTT LLC Operation)
13.Do not hold the BU00008 invoices from payment for Media supplier only. Pay as paid policy is not applicable here.(Only WTT LLC Operation)
14. Do not hold the BU00033 invoices from payment. Pay as paid policy is not applicable here. (Only for Marketing Direct LLC)
Special Approval for Cash Managment (Querterly,Half Yearly,Yearly)
• SSC Offshore team will run the payment proposal on every Tuesday evening (9:30 PM IST) for coming next 3 weeks
• The SSC Offshore team would identify key suppliers such as Contingent workers, Media, Utilities, etc., and the payment proposal will be shared with
Business (controllers at their request) for review to ensure key suppliers are not missed
• Post receiving the update from Business on which invoices needs to paid/hold SSC offshore team will then run the payment batch accordingly on
Wednesday
Additional Special Approval for Media Invoices.
For all BU’s we should moving forward follow the “Pay When Paid Policy” and for any exceptions we need to obtain BU approval in writing Approval for payment
should come from the VP Finance (Erin Louie currently) or the CFO .
Changes Effective Change
Date
Scheduled Week Payments inculdes :
WD1 - ( additional pay run) - Media (Payment due till Last
day of the previous month)
Discard Exception: