Xero Aged Payables and Supplier Payment Practice Audit
Check bill payment timing and duplicates.
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[VERIFY] is an editorial flag, not a blank to fill. Wherever the prompt shows [VERIFY], check that item against a reliable source before you use it.
Audit payables. Data: aged payables report, supplier list, bills with dates and amounts, payments made, early payment discounts missed and late fees: [PAYABLES_DATA]. Payment terms by supplier: [TERMS]. Ask about disputes and cash constraints before advising to pay early or late. Calculate total payables, bands, bills overdue, days payable (payables divided by annual purchases times 365: 24,000 divided by 192,000 times 365 is 45.6 days), late fees, discounts missed, and possible duplicate bills (same supplier and amount within a short time), and compare with average terms. Annualised discount value: 2 percent for paying 20 days early is about 2 / 98 x 365 / 20 = 37 percent, so early payment may be worth it if cash allows. Worked supplier table: A terms 30 days paid on average at 41 days; B terms 14 days paid in 14; C offers 2 percent for payment in 10 days but is paid in 30, so 2 percent on 5,000 is 100 missed. Paying late can harm relationships and may be unlawful in some circumstances [VERIFY]. Recommend a weekly payment run with a cut-off day, approval step and duplicate check, protecting cash and relationships, and a script for negotiating terms. Return a table. Mark feature references [VERIFY]. This is bookkeeping education, not accounting, tax or legal advice; rules differ by place, so end with the questions a qualified professional should answer for my situation [VERIFY].
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