Payment practice report, or the support from SI-Consulting in the fight against payment blockages
The Ministry of Development, in an attempt to help entrepreneurs reduce payment gridlocks, prepared the Act Amending Certain Acts to Reduce Payment gridlocks. Journal of Laws 20191649. In order to monitor the status of payment backlogs in trade receivables, it requires entrepreneurs to draw up a report on payment deadlines in commercial transactions applied in the previous calendar year.
- The report must be prepared annually by the end of January for the previous financial year.
- The largest entities - capital groups and CIT taxpayers, whose annual income exceeds 50 million EUR, are required to prepare the report.
Burdensome duty? Not necessarily - use our tool's support in the SAP environment!
Burdensome duty? Not necessarily - use our tool's support in the SAP environment!
To meet new reporting needs, SI-Consulting has prepared a tool that supports the collection and aggregation of data necessary to prepare such a report.
How does it work?
- Our solution analyzes the items of bank statements entered into SAP for a given year and on this basis finds their settlements with the types of documents indicated by the user indicated as commercial (invoices, corrections). It takes into account the possibility of partial payment of invoices.
- The discovered payments for trade receivables and payables are assigned to the appropriate time interval, taking into account the date of the accounting document as the invoice issue date.
- The tool calculates the value of not received / unfulfilled benefits in the previous calendar year, the total value of benefits, and the percentage ratio.
- You receive the data presented either as aggregated or broken down into individual clients.
- You have the option of indicating specific clients for whom the report is made.
Why you should choose our solution?
- The tool allows you to collect the data necessary to prepare a report, i.e. fulfill the requirements set by the legislator.
- You are guaranteed a much faster data collection compared to the analysis of data from standard reports.
- You create analyzes at the level of individual clients along with reports for internal analysis of payment deadlines in relation to specific entities.
