Capita LGS’ exchequer services offering has been designed to aid the delivery of robust financial transaction management for local authorities.
Our suite of exchequer services provides councils with the stability and proficiency required to successfully manage transactional finance services in today’s uncertain financial climate.
Our service offering includes:
Accounts payable
We currently process over 400,000 invoices a year through our accounts payable service, which provides our clients with smooth and efficient payment processing. By working closely with our clients, we can identify cost-effective ways of carrying out payments and ensure that they are being followed throughout the organisation.
An additional and unique feature of our accounts payable service is our ability to work together with our procurement specialists at Capita Procurement Services to manage the entire purchasing lifecycle on behalf of our clients, from awarding contracts to making payments.
Accounts receivable
Our accounts receivable service ensures the smooth and efficient raising of sundry debt invoices for the customers of our local authority clients – in the most cost-efficient manner – and also conducts follow-ups to make sure that our clients receive their payments within the agreed specified payment terms.
General ledger maintenance
Our general ledger maintenance service ensures any amendments to our clients’ primary books of accounts are posted correctly and accurately, and involves:
- Loading feeder files into the general ledger, accounts payable and accounts receivable systems
- Creating and updating supplier and customer records
- Ensuring all routine journals are accurately entered in the general ledger, in the correct accounting period and in accordance with agreed timetables.
Financial systems administration
We have vast experience of working with an array of financial systems, including: SAP, Oracle, Agresso and Cedar, and we’re confident in our ability to work with our clients’ choice of system – what ever it may be. We utilise this experience to advise our clients on system changes and to project manage system upgrades.
Delivering optimal results
Once implemented, our exchequer services yield the following benefits to our clients:
- A clearer audit trail
- Better management of costs
- Greater visibility of outstanding invoices, forward costs and cash flow
- Shortened turnaround times
- Removal of duplicated work practices
- Reduced paper flow around the organisation
- Shortened completion times for transactions.
Find out more about our accountancy services and our bespoke financial services.