Article
Prompt payment report: April 2019 to March 2020
Published: 8 June 2021
Last updated: 8 June 2021
Period | Percentage of invoices paid within 30 days | Percentage of invoices paid within 5 days | Date paid v date input: monthly average days |
---|---|---|---|
April to June 2019 | 100.00% | 92.50% | 3 |
July to September 2019 | 100.00% | 94.70% | 2 |
October to December 2019 | 99.80% | 92.88% | 2 |
January to March 2020 | 100% | 91.40% | 3 |
Average | 99.88% | 92.87% | 3 |
Notes
"Date paid" is the date we made the payment, whether by cheque, Bacs or CHAPS.
"Date input" is the date a valid invoice was received and then processed, by our finance team, into our accounting system, usually within 24 hours of each other.
Government guidance on managing public money (section 4.6, procurement) says that public sector organisations are bound by the late payment of commercial debts act 1988 (amended by the late payment of commercial debt regulations 2002, SI 1674): "payment is regarded as late if made outside of the agreed terms, or 30 days after receipt of a valid invoice where no terms are agreed".
We define an "undisputed invoice" as a supplier invoice that quotes a valid purchase order (PO) number, the goods have been received and receipted, and the invoice has been physically received by the finance team.
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Published:
8 June 2021
Last updated:
8 June 2021