As we enter into quarter 3 (October-December) and continue to navigate the challenges of a COVID operating environment, we are introducing a couple of changes to our finance and procurement processes which we want to make you aware of.
Requisition and delivery dates
Back in April, we announced that you must make sure the delivery date you enter when raising requisitions must be realistic. In addition to this, we are now closing down any unused or old purchase orders, meaning:
- All purchase orders will be closed six weeks after the delivery date has passed.
- All requisitions which have not been approved will be closed after six weeks from the date of being raised.
Another key change we are making is removing your ability to raise a requisition if you are also an approver. This is to ensure the segregation of duties and means that two people will see all spend in the future. Here is some further guidance on how to raise a requisition.
Authorisation limits
We have also reduced approval limits held within the Unit4 Finance system. With the exception of Business Growth Hub, Business Finance and Made Smarter all authorisation limits have dropped by one tier in order to monitor and control spend as much as possible.
New supplier process and supplier risk policy
In March, we introduced the New Supplier Process to increase our due diligence so please remember to ask suppliers to complete these additional forms. A supplier must be approved before you can raise a purchase order and start activities with them. Here is some guidance on the new supplier process.
Inter-company transactions
Please remember that you are no longer able to raise sales invoices to internal companies (except for NST, TMI and MIDAS). You now need to raise an Internal Trade Request form available on Unit 4. Here is some guidance on how to raise an Internal Trade Request.
Credit cards
Spending and activity on credit cards were reviewed in April and new credit limits were set for all cardholders. We understand activity is starting to increase and so, whilst limits will remain, this is being closely monitored and updated on an individual level as and when needed. We are also reviewing all credit card limits to ensure that they are appropriate with current and future working arrangements.
Ad hoc payments
Finally, we would like to remind you that the ad hoc payment process is reserved for business-critical or reputationally damaging payments only. If you do need an ad hoc payment, the form for this is available on Unit 4 and here is some guidance on how to request this form of payment.
If you have any questions or concerns, please contact the Finance team.