Collection Methodology. Obtain a current listing of the lockbox/collection account(s) into which collections on purchased receivables are deposited. Compare this to the listing presented in the TAA. Examine the most recent bank statement/general ledger reconciliations for the 1-2 largest lockbox/collection account(s), noting the timeliness of completion and materiality of any unreconciled variances. Which entity’s name is on each of these bank statements? Ask management to prepare a schedule for Month#1 and Month#2 summarizing collections by obligor remittance location.
Collection Methodology. Obtain a current listing of the lockbox/collection account(s) into which collections on purchased receivables are deposited. Compare this to the listing presented in the TAA. Examine the most recent bank statement/general ledger reconciliations for the 1-2 largest lockbox/collection account(s), noting the timeliness of completion and materiality of any unreconciled variances. Which entity’s name is on each of these bank statements? Ask management to prepare a schedule for Month#1 and Month#2 summarizing collections by obligor remittance location. SECTION 18.13 Location of Remittance: SECTION 18.14 Bank NameSECTION 18.15 Account NumberSECTION 18.16 Account Holder ARTICLE XIX Month#1 ARTICLE XX ($000’s) ARTICLE XXI % ARTICLE XXII Month#2($000’s) % Collection Account (via Lockbox, Wire Transfer or ACH) $ $ Company’s office Other (describe)
Collection Methodology. The refuse collection service is by means of a refuse compactor vehicle with a bin lifting mechanism at the back. The estimated bin weight contents for a period of six (6) months prior to advertising this tender document averages Helderberg Areas and Kraaifontein Areas between 15 to 17 kg. Tenderers must correctly complete the technical capability schedules for all areas they are tendering for to be compliant with the specification. Tenderers may refer to the technical capability schedule for each area on the Pricing Schedule. Failure to provide relevant and accurate information as per Schedule B for each area tendered will render the tenderer technically non-responsive. The Technical Capability Schedules are named as follows:
Collection Methodology. For Collection Methodology, see Attachment 1 through 1-1, Performance Measure Compliance Report.
Collection Methodology. Obtain a current listing of the lockbox/collection account(s) into which collections on purchased receivables are deposited. Compare this to the listing presented in the TAA. Examine the most recent bank statement/general ledger reconciliations for the 1-2 largest lockbox/collection account(s), noting the timeliness of completion and materiality of any unreconciled variances. Which entity’s name is on each of these bank statements? Ask management to prepare a schedule for Month#1 and Month#2 summarizing collections by obligor remittance location. Location of Remittance: Bank Name Account Number Account Holder Month#1 ($000’s) % Month#2($000’s) % Collection Account (via Lockbox, Wire Transfer or ACH) $ $ Company’s office Other (describe) TOTAL Deposits per Bank Statements $ $ Less: Non-AR related Deposits SSubtotal $ 100% $ 100% +/- Reconciling items Total Collections per Monthly Report $ $ Verify the accuracy of the information on the Excel spreadsheet by tracing the data to the bank statements, accounting records, and the monthly report. Explain any large reconciling items. If any of the collections are remitted directly to the company’s offices, ask management where (bank name & account number) these in-house receipts are eventually deposited. If the amount of monthly in-house collections cannot be precisely quantified, ask for an estimate. Also, describe how promptly such collections are being deposited into the bank account (i.e. are the payments deposited within 2 business days or do they wait until the end of the week before making the deposit?).
