Accounting audit of overpayments to suppliers
On average, one invoice in a thousand is paid twice. To these double payments can be added other types of less common errors : currency errors, prepayments not recovered, credit notes entered as invoices, input errors affecting amounts. Added up over several years, amounts lost as a result of such errors can be significant : up to 0.5 % of annual purchases.
Generally speaking, no organisation is exempt from overpaying its suppliers. There are specific risk factors however :
- A change of system or organisation
- Increased productivity targets
- Outsourcing of invoice processing abroad
- Occasional purchase without order / order issued after receipt of the invoice
- Lack of staff training (for example during holiday periods)
In addition to the cash recovered, a supplier overpayments audit enables you to test processes’ reliability and thus improve internal practices, to avoid the recurrence of identified anomalies.
A Supplier overpayments Recovery Audit can be carried out in parallel with the lost deductible VAT Recovery Audit.
Following the accounting analysis, an ABBD dedicated team can recover the identified supplier overpayments. Composed of 5 experienced consultants, our recovery team is specialized in amicable cash collection from suppliers.
In average, 80 % of identified amounts are recovered within two months ; the remaining 20 % are recovered in the following two months.