Miggins and Miggins Finance Team

Responsible for generating all the invoices and chasing outstanding accounts, the Finance Team should have a straightforward task of running the invoices at the end of each week, but it has been some considerable time since it was a straightforward task.

Expenses are a major issue with the wrong amounts being charged, or charges not being applied or exempt customers having to request credits. This has resulted in 2 formal complaints in the first 3 months of the year.

Profits have also been hit as mileage to the customer is only calculated from the office and not the last location of the Consultant. With jobs being planned in this way, only 60% of mileage is being recharged.

Finance uses the following documents.

  • Invoice generation and processing
  • Recharging expenses Guidance
  • Batch processing
  • Finance and Credit Control Policy
MMCSOP005 Finance Invoicing and Reconciliation Procedure

Last updated: January 2007

Storage location: W:/MarcLombok/documents/draft/final/Finance to be update.doc

Miggins and Miggins have a strong financial control mechanism and is governed by industry-standard practices. It should be read in conjunction with MMCSP001, Flowcharts and the latest guidelines

On completion of work:

  • Check the status
  • Identify batch status and run as necessary
  • Take the completed job of AR455 and update LG27
  • Invoice
  • Validate output
  • Issue
  • Query if L3
  • Chase for payment and Match
  • Close job
MMCSP01 Finance and Credit Control Policy

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