Sample Accounts Receivable Questionnaire

There has been a lot of requests to post sample questions for other financials modules also. Here i am posting a small sample of questions on Oracle Receivables.
1. Provide an overview of AR invoice processing.
2. Provide an overview of AR cash receipt processing.
3. How do you adjust receivables?
4. Do you receive deposits and/or prepayments?
5. Explain Customer Creation and Maintenance Process. Provide samples of customer master records with Payment Terms.
6. Do you track and record relationships between customers e.g. franchises, subsidiaries etc.?
7. Do you create reciprocal customer relationships whenever you create a relationship between customers for tracking purposes?
8. Do you have multiple "remit to’s"?How are multiple "remit to’s" determined for each customer?
9. What credit information is tracked for each customer?
10. How do you group your customers for credit limits, credit checks?
11. Do you do miscellaneous invoicing? Please explain with examples.
12. Do you send customers statements? If so please describe the process and highlight any exceptions.
13. How are the revenue, receivable, freight and tax accounts configured for each invoice type?14. Explain Debit Memo & Credit Memo Process.
15. Do you bill customers in a foreign currency?How many invoice types do you have? Provide invoice samples. (Credit Memo, Debit Memo etc.)
16. How do you number your invoices?
17. Where are the invoices printed? How many printers and where are they? Pre-printed forms?
18. How do you calculate your tax charges? What are the rates? Explain Tax Structure.
19. Do you validate the tax rate against a Customer’s Ship To address when preparing invoices? If so please describe how.
20. Do you charge finance charges? If so - how do you charge finance charges?
21. Explain your dunning and Collection Process. Please provide dunning statement formats.
22. Do collectors actively call customers on delinquent items?
23. What sort of buckets do you use for cash requirements forecasting? (i.e. 30, 60, 90...)
24. Do you write off receivable? Is there a specific dollar amount or time frame used by your Company for write-offs?
25. Do you have Chargeback? Explain.
26. Explain Revenue Recognition Process and explain the scenarious.
27. Explain Bills Receivable?
28. Do you associate Revenue to Sales Person.
29. How is Sales Territory Information for tracking purposes derived? (i.e. customer, salesperson etc.)
30. How do your customers generally pay invoices? single check—single invoice/single check—multiple invoices/multiple checks—multiple invoicesProvide list of Banks and Purpose?
31. Explain Payment Process?
32. Are you using Automatic Receipts? Explain?
33. Explain Remittance Process?
34. Explain your Auto Lock Box Proces if you have enabled it?
35. What types of payments are received and input? (i.e. check, cash etc.)
36. Explain Receipt Reconcilliation Process?
37. What reports do you currently generate for Invoicing, Sales and Revenue tracking? Provide samples including frequency and distribution.

Gathering missing information for Non-PO invoices within Oracle

In most organizations we commonly see a problem in gathering the accounting and other missing information for Non-PO invoices. Oracle Payables does not help us much in gathering this information within Oracle system itself. So, AP team has to gather this information outside of Oracle.
However, a workaround involves using the Invoice Approval Workflow to gather the missing information from the Invoice Approver. But, for this to work the invoice distribution lines have to be completed. SO, what i suggest is use a dummy invoice distribution lines which uses a particular CCID (can be a clearing account) which the AP clerk uses. Using Invoice Approval Workflow we can gather the correct invoice distribution details like tax details, accounting details, etc from the invoice approver and then the AP clerk goes back to the invoice and updates the lines with the correct values. To prevent payment of such invoices without the correct invoice details we can use different means like changing th payment due date to a much later date, putting the invoice on a custom hold, etc.
However, i am looking forward to Oracle to come forth with a more standard solution to this common problem for Non-PO invoices which almost all organizations who have implemented Payables face today.

Sample Accounts Payable Questionnaire for Client

1. Provide and overview of the Accounts Payable operations.
2. Provide samples of vendor master records.
3. Do you differentiate vendor sites which can receive payments and sites which cannot receive payments?
4. Describe the invoice vouchering process.
5. Are recurring expense distributions for fixed or varying amounts?
6. Explain Payment Terms List, Interest Charges, and Discounts?
7. Should invoices be matched completely, partially or both?
8. Explain Invoice Approval Process? Describe the approval process when invoices need to be placed on hold and manually released?
9. What requirement is there to process employee expense reports? Please describe. Provide Sample.
10. What is the current process to generate expense payments to employees?
11. Do your employees have company credit cards? How are company credit cards managed (issued, audited, reconciled, etc.)?
12. List of Supplier / Payment Banks
13. Is there a requirement to use Electronic Funds Transfer?
14. Is there a requirement to use Wire Transfers?
15. Is there a requirement to process Automatic Payments?
16. Is there a requirement to process Manual Payments? If so, is a separate bank account used? 17. Is there a requirement to process Partial Payments?
18. Is there a requirement to process Pre-Payments?
19. Is there a requirement to process Recurring Payments?
20. Is there a requirement to process immediately available ‘Quick Checks’?
21. What is the current procedure for vendor advances?
22. How are vendor advances reconciled when the vendor invoice is submitted?
23. Do you have, or do you require, a priority system for payments? Describe its use.
24. What is your current payment cycle? (How often do you print checks?)
25. If recurring payments are used, what is the normal period cycle for these payments?
26. Is there a requirement to use Computer Generated checks?
27. What is your process to cancel checks?
28. Are all invoices paid in local currency and what currency is used? If not local, list the foreign currencies used.
29. How many payment formats do you have? Provide samples.
30. Do you print the check number on the check/remittance or is it pre-printed?
31. Should a remittance advice note be produced, and when?
32. What is the policy/procedure for handling stop payments?
33. What is the policy/procedure for handling void payments if they have been recorded? 34. What are the requirements for reporting tax payments (e.g. company, rate or tax authority)?
35. Do you have to pay other businesses within the Group
36. Do you use Cash or Accrual Based Accounting?
37. Please provide all copies of Payable reports
38. How long do you do check reconciliation?