Tasks to be completed when creating an operating procedure (from creation to publication)

  1. Enter the Title of the procedure:  Description of the operating procedure - Region (APAC, EMEA, LAM, NAM) - Country (Optional) - ERP (PI1, PF1, WP1)
  2. Add the following Labels : 
  3. Fill all fields as described
  4. Once the procedure is completed, publish it using the SBS-OtC approval workflow

Table of contents 

By default the table of contents displays Heading 2 & Heading 3 (other levels can be added)

Objective and Scope

The purpose of this document is to explain how to perform the internal controls for Accounts Receivable process.

The Internal Controls mentioned in this OP aims to ensure:

  • Compliance with AR procedures
  • Application of Process Expert’s instructions and guidelines
  • Assure the mitigation of financial risk in key tasks 

This operating procedure (OP) applies to all NAM companies and customer payments for invoices factored to Solvay Financial America (4044) and reversal factoring for company 7424.

Definitions 

  • SC: In the current document, “Service Center” will be replaced by its abbreviation “SC”.
  • OP: Operating procedure
  • SFA: Solvay Financial America
  • SSA: Solvay SA
  • CM: Credit Manager
  • DA: Doubtful invoice
  • NAM: North America (US; Mexico; Canada; Puerto Rico).
  • PE: Process Expert


Scope

1. Remove the icon(s) when not applicable

  

2. Add countries when the procedure is for a specific country (optional)

ERP

3. Remove the icon(s) when not applicable

  

References

 

4. Add the link to SAP procedures (when it exists)

Attachments

5. Add the link to attachments (to be stored in AODocs or GDrive) or external links  

1. INTERNAL CONTROLS

1.1      Daily review of Unallocated Payments

The control of the unallocated cash is done in order to ensure that no payment received is open on the sub-account without having been correctly addressed and escalated asking more details.

In PI1:

We have two transactions that should be checked. The first one is FEBA and the second one is FLB1.

FEBA – FORNA PAYMENTS: Open FEBA transaction and choose the following criteria’s:

 

 

Company code: 4044

House Bank: FORNA               

Statement date: Statement date of the payments

Statement status: 7

Execute 

 

 

Afterwards, click on each unallocated (red entries), click on the 900… document, choose  and go to the “Attachment list” to check the case number. Then, go to Fresh Desk and check if the case was correctly created and sent to the correct entity (Credit Manager, Collections Team and Treasury).