You saw some processes under payment administration in https://faoblog.com/processes-ap-payment-administration/

We covered an additional two sub-process on payment administration https://faoblog.com/processes-ap-payment-administration2/

Here are two more:

  • Budget management – Though budget management normally forms a separate function, however here, in relation to payment administration the activities could involve planning cash flow. Keeping a track of projected receipts and payments, comparing to the actual, analyzing and reporting variances would be the normal activities.
  • Cash flow management – While the previous activity focuses on planning, this activity is the actual management of available cash. You may be given rules for holding / releasing payments, marking what payments to release, so that a feed reaches the processing point. This will also involve setting payment release limits and restrictions based on cash available in various accounts. You may or may not have the rights to take decisions, however, you will surely be expected to communicate your observations and prospective course of action with the decision makers, of course with proper data. And that’s the function which will be with you.

We will cover “Payment processing” in the next post.

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