SUPPLIER PAYMENT GUIDE

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1 SUPPLIER PAYMENT GUIDE Expectations and requirements to facilitate accurate and timely payment to suppliers Table of Contents 1) Procure-To-Pay Cycle 2) Payment Process Overview 3) Payment Terms 4) Submittal Information 5) Requirements 6) Accounts Payable Contact Information 7) Debit Memo and DMDO Chargebacks 8) Payment Definitions 9) Common Invoicing Issues 10) Accuracy Metric ABG Payment Guide Revision 07/10/07 1

2 1) PROCURE TO PAY CYCLE Purchase Order Source / Contract Deliver Items Payment Receive Items / PO Match Submitted The Procure-to-Pay (P2P) cycle encompasses all processes from the identification of suppliers through payment of invoices. ABG s goal is to optimize Procure-to-Pay processes to increase efficiency, reduce risk, and lower supply chain costs. The Supplier Payment Guide was created to outline specific requirements and expectations for suppliers in the payment process in an effort to minimize delays due to invoice discrepancies. Understanding and following the requirements in this guide will help insure accurate and timely payments. ABG is focused on continually improving the payment process in an effort to consistently pay suppliers within the payment term and to increase productivity in both organizations. Only in partnership with our suppliers will we accomplish these goals. For more information on Access Business Group Requirements and expectations, please visit the ABG Supplier Portal at All Access Business Group suppliers should have an updated Supplier Information Form on file with Accounts Payable. The Supplier Information Form is located in the Accounts Payable section of the ABG Supplier Portal. The form may be faxed to the appropriate AP Contact located in section 6 of this document. ABG Payment Guide Revision 07/10/07 2

3 2) PAYMENT PROCESS OVERVIEW The payment process at ABG begins with the receipt of an invoice. Following receipt, the ABG Accounts Payable Department scans and indexes the invoice into the Viewstar imaging system. A comparison of the invoice information is made with the receipt information found in the ABG ERP System (JD Edwards). In order to proceed, the invoice must accurately reflect the price and quantity, and the supplied item must pass the applicable quality inspections. If a discrepancy is found on the invoice, a Problem Notice is created and sent to the appropriate ABG department for resolution. s with no issues will be vouchered and submitted for payment. Problem Notice Supplier Submits Receive / Scan Index Item Receipt Match Create Voucher Payment Submitted 3) PAYMENT TERMS Access Business Group s standard payment term is 2% 10, net 30. The standard non-discount term is net 45 days. Exceptions will be made on a case by case basis. Suppliers who offer discount payment terms are eligible for participation in additional payment programs, such as ACH, Pay-on-Receipt, and/or ERS, which will help insure accurate and timely payments to suppliers. To learn more about the aforementioned programs, please contact your ABG Buyer. Received Check Date Date Payment Term Due Date Date: The date the invoice is created by the supplier. The invoice date should not be sent until the ordered item has been shipped to Access Business Group. Due Date: The date the invoice is due to be paid; calculated using the invoice date and the purchase order payment term. Check Date: The date the check is cut and mailed at ABG or the wire payment is submitted. Access Business Group policy is to submit payment on the due date. ABG Payment Guide Revision 07/10/07 3

4 4) INVOICE SUBMITTAL INFORMATION When mailing invoices to Accounts Payable, please review the purchase order for the correct Bill-To address. Please submit invoices to the appropriate PO Box below: PO Box 489 If the payment term indicates a cash discount. PO Box 494 If the payment term is less than 30 days, but with no cash discount. PO Box 513 If the payment term is 30 days or greater. Access Business Group is located in Ada, MI The Access Business Group Zip Code is _ with the last 3 positions being the same as the PO Box listed above. For example, an invoice with a discount term would be submitted to: ) INVOICE REQUIREMENTS Compliance with the invoice requirements below will assist ABG in providing consistent, timely payments to suppliers. Please review the instructions with all personnel involved with invoicing and update the supplier billing system as appropriate. General ABG Policies: Failure to provide accurate invoices, as specified below, may delay payment. The purchase order is the official legal agreement. Upon receipt of a PO, the supplier should review the PO for accuracy. If the PO is inaccurate, (IE: payment terms, price), please notify the ABG Buyer or Planner to resolve the issue. The payment due date is calculated using the invoice date and the purchase order payment term. ABG will cut the check or submit the wire payment on the due date. All invoices should be clearly printed on white paper, easily readable, and easy to scan or copy. All invoices must be submitted to the designated ABG Post Office Box, as specified in Section 4. All suppliers must have an IRS W9 form on file before payment can be made. A W9 form may be found on the ABG Supplier Portal: Each invoice must contain the following information: Supplier REMIT TO name and address including country Telephone and fax number of supplier Address (if available) Supplier invoice number o The invoice may be returned to the supplier if the invoice # is not provided. date assigned by supplier: Unit price as indicated on the purchase order ABG Payment Guide Revision 07/10/07 4

5 5) INVOICE REQUIREMENTS CONTINUED Each invoice must contain the following information: Billing unit of measure (UM) Purchase Order Number and Order Type o Only ONE Purchase Order per should be billed o The invoice will be returned to the supplier if the PO Number and Order type is not provided. If the Purchase Order Number was not provided by ABG, please include a contact name & telephone number. Purchase Order Line Number Payment Term o If no payment terms are provided, the payment will default to 30 days from the invoice date. Bill of Lading or Packing Slip Number o This should be the same number that is referenced on the shipping documents. The ABG Receiving area will input this number when the shipment is received and the Accounts Payable group will use it to match to the correct receipt. Shipping Date Quantity shipped Description o Product Name or Trade Name o ABG Part Number / SKU o ABG Description Net amount (unit price X quantity shipped) Country of Origin o The country where the product was manufactured or produced - reference 19CFR (Code of Federal Regulations) Pallet cost (if applicable) o Quantity shipped o Unit Cost o Total due for pallets Freight (when applicable) Tax (if applicable) Allowances (if applicable) Currency Code Total Amount Due The following information is not required, but is helpful in accurately matching receipts to an invoice. Freight Carrier PRO Number Trailer Number ABG Payment Guide Revision 07/10/07 5

6 6) ACCOUNTS PAYABLE CONTACT INFORMATION The latest version of the Payment Guide may be found on the ABG Supplier Portal. Please insure you have the most recent contact information prior to contacting Accounts Payable. The ABG Accounts Payable purchase order payment staff is divided two primary areas: Payment payments relating to purchase orders Payment Research resolution of payment issues after the check/wire has issued Payment: Each Accounts Payable PO payment team member is responsible for a group of suppliers based on the beginning letter of the supplier name and/or the type of purchase order transaction. All Suppliers should reference the chart below prior to contacting an AP Representative: AP Contact Transaction Letter Responsibilities Phone Number Fax Number Name Type (1 st letter of supplier name) Cami A - B Sharon C - E Deborah F - H Linda I L Bobbie M N Marcy O - Q Stacey R Marisela S Jane T Kathy U Z Nora Wire Transfers A Z (All Non-US or Canada Suppliers)** AP Contact Transaction Letter Responsibilities Address Name Type (1 st letter of supplier name) Cami A - B Sharon C - E Deborah F - H Linda I L Bobbie M N Marcy O Q Stacey R Marisela S COM Jane T Kathy U Z ABG Payment Guide Revision 07/10/07 6

7 Nora Wire Transfers A Z (All Non-US or Canada Suppliers)** NORA.SMITH- ** All Suppliers located outside of the US or Canada will be paid via wire transfer. Suppliers are required to provide banking instructions by filling out the Wire Transfer Form, located on the ABG Supplier Portal. Accuracy of the information is critical to insure that payment is made in the correct currency and to the correct bank. If at any point, the information should change, new banking instructions must be provided. Payment Research Questions concerning payments that you have received should be faxed to the attention of the appropriate research team member listed below. ABG will review the request and send it to the appropriate area for resolution. ABG strives to return all phone calls and s within 24 hours to respond to faxed or mailed research within 5 working days. Research Team Contact Letter Responsibilities Phone Number Fax Number (1 st letter of supplier name) Linda A - M Jane N - Z Research Team Contact Letter Responsibilities Address (1 st letter of supplier name) Linda A - M Jane N - Z General Questions may be directed to the AP Team Lead: Patty Story ( ), ABG Payment Guide Revision 07/10/07 7

8 7) DEBIT MEMO AND DEFECTIVE MATERIAL DISPOSITION ORDER (DMDO) CHARGEBACKS The back of the purchase order contains information on product inspection and audit. A copy of the chargebacks will be included with the check where the deduction is taken. If a defect is found to be the responsibility of the supplier, the rejection may also be subject to a processing fee. Reimbursement of the funds will be expected for any outstanding debit balances that remain on the account. If goods are rejected upon receipt and returned to the supplier for rework at a non-abg location, the supplier will credit ABG for the returned goods and issue an invoice for the quantity shipped back to ABG. 8) PAYMENT DEFINITIONS The following processes are utilized by ABG to improve the consistency of payments. For more information on the programs below, please contact your ABG Buyer. Automated Clearing House (ACH): A payment process which allows Accounts Payable to electronically send payments to a supplier s bank account. ACH increases the efficiency of the payment process, while decreasing the time for a supplier to receive payment. US suppliers offering discount payment terms will be considered for participation in the ACH program. EDI (810 transaction): An electronic invoice received via EDI. EDI invoices significantly reduce the time to pay an invoice in Accounts Payable and are the preferred method of invoice submittal. Evaluated Receipt Settlement (ERS): A business process that eliminates the supplier invoice. Payment is based on the purchase order price and the actual receipt quantity. Accounts Payable will invite select suppliers to participate in the ERS program based on the overall invoice volume, the supplier relationship, and the type of product being ordered. Pay-on-Receipt (POR): A program that allows Accounts Payable to begin the payment process for an item prior to quality inspection. Select ABG suppliers are included in the program based on the following criteria: The supplier offers discount payment terms A good, ongoing relationship exists between the supplier and ABG The supplier has a good quality history over the past year, or is a certified supplier The pay-on-receipt program helps increase consistency in payments by decreasing the risk of delays due to backlog s or issues in quality. Wire Transfer: ABG s standard method of payment for International suppliers. All Suppliers located outside of the US or Canada will be paid via wire transfer. Suppliers are required to provide banking instructions by filling out the Wire Transfer Form, located on the ABG Supplier Portal. Accuracy of the information is critical to insure payment to the correct bank. ABG Payment Guide Revision 07/10/07 8

9 9) COMMON INVOICING ISSUES The following items are the most common errors that delay payment: quantity does When an invoice is received, the Accounts Payable department not match the compares the quantity from the invoice with the quantity of the item received quantity. received. Failure to invoice the correct quantity will cause a price does not match the purchase order price. The invoice is missing the purchase order number and/or the purchase order type. The invoice is missing the purchase order line number or the line number is inaccurate. The invoice number and/or invoice date is missing. The unit of measure on the invoice does not match the unit of measure on the purchase order. A W9 form is not on file at ABG. The Bill To Address is incorrect. There are additional line items on the invoice that were not on the Purchase Order. problem notice and a delay in payment. The invoice price must match the purchase order price in order for Accounts Payable to accurately match the invoice. Failure to provide an accurate price will cause a problem notice and a delay in payment. The purchase order number and the 2-digit purchase order type (Ex: OP, OU, MQ, OI, etc ), as found on the Purchase Order, are required for payment. Failure to provide this information on the invoice will delay payment and may force ABG to return the invoice to the vendor. The purchase order line number is used to help accurately match the PO and the invoice. When submitting an invoice, each line number must match the PO line number exactly. Failure to provide the line number will delay payment. All invoices must contain a valid invoice number and invoice date. The payment due date will be calculated using the invoice date. The invoice unit of measure must match the purchase order unit of measure. Invoicing in a unit of measure that differs from the PO may result in a problem notice and a delay in payment. IRS requires a W9 form on file for all suppliers. Suppliers without a W9 form on file must complete a form before payment can be made. A copy of the W9 form is available in the Accounts Payable section of the ABG Supplier Portal: must be submitted to the correct Bill To address with the correct Post Office Box Number, as specified in Section 3 of this document. Additional authorized charges, such as freight or tax should be identified on the invoice. Charges not on the Purchase Order may require additional approval and may result in a problem notice. ABG Payment Guide Revision 07/10/07 9

10 10) INVOICE ACCURACY METRIC Access Business Group monitors supplier performance for key metrics that have a significant impact on supply chain operations. The Accuracy metric measures errors that appear on an invoice. Significant invoice issues may result in a Problem Notice being created by Accounts Payable. Problem notices are sent to the appropriate functional area for resolution, and often result in a delay in payment. Additional invoice issues are also recorded for items that result in an increase in research and processing time in Accounts Payable. The following items are common issues that result in a deficient Accuracy metric: Price Discrepancy price does not match PO price Quantity Discrepancy Quantity received does not match invoice quantity Purchase order number is missing Multiple Purchase orders provided on the same invoice Purchase order line number is missing or incorrect Purchase order type (OP, OU, OI, etc ) is missing or incorrect number is not provided Bill To Address is incorrect Sales tax charges on invoice when they do not apply Item number is missing or incorrect Unit of measure on invoice does not match unit of measure on PO Payment terms on invoice do not match payment terms on PO not faxed or ed as instructed INVOICE ACCURACY EXAMPLE Number of Purchase Order s Received 10 Number of Perfect s (no errors) 9 Accuracy Percent = 90% ABG Payment Guide Revision 07/10/07 10

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