The purpose of the Sales Ordering department is to produce invoices for all products and services provided by OCR, ensuring timely production and issuance of invoices to our customers in line with internal financial controls.
This policy sets out our approach to invoicing and associated matters for all GQ and VQ qualifications for OCR customers.
To ensure accuracy of all examination invoicing that originates from a 3rd party system Invoicing, such as EPS and CAMS checks will be carried out to ensure that entry numbers are reconciled after each exam session closure.
All other general product invoicing will be processed in line with the internal authorisation controls and audit process.
1.2.1 Invoices and Credit Notes shall be raised in the name of the OCR.
1.2.2 Invoices and Credit Notes will comply with VAT or equivalent regulations detailing the correct VAT number or other legally required reference.
1.2.3 Invoices and Credit Notes shall be raised through SAP, or appropriate Group accounting system.
1.2.4 Invoices will be raised promptly and in line with agreed schedules and frequency of contractual obligations unless an alternative billing schedule has been approved.
1.2.5 Invoices and Credit Notes will be raised in sterling.
1.2.6 Invoices and Credit Notes clearly detail the services and quantities that are being charge or credited, detailing the amount payable, refundable, the tax date (Invoice and Credit Note date), discounts applied, payment terms and Invoice due date by when payment is to be received by.
1.2.7 Invoices contain details of how to pay, including the Swift and IBAN numbers and bank account details, along with a remittance Advice portion.
1.2.8 Invoices and Credit Notes will detail contact details for any queries relating to the invoice.
1.3.1 Payments should be made as per the terms shown on the invoices and contractually agreed.
1.3.2 Payments from customers are recorded promptly on the customer’s account and in the OCR’s accounting system.
1.3.3 OCR preferred payment methods are through the secure Banking Network and include BACS Transfer, CHAPS and Faster Payments. OCR offer a secure platform for those customers wishing to pay by Credit Card and Debit Cards. Cheque payments will only be accepted where payments are unable to be made via the preferred secure banking network
1.3.4 Remittance advices are required for all payments to assist in accurate allocation of customer payments.
1.4.1 Customers are issued monthly statements detailing outstanding invoices, current ageing and total outstanding.
1.4.2 Dunning letters will be produced on for all customers that are overdue on a fortnightly basis, detailing the amount overdue.
1.4.3 OCR reserves the right to determine a credit limit and credit facilities for a customer.
1.4.4 OCR reserves the right to review and remove customer credit limits for a customer as deemed necessary.
1.4.5 OCR reserve the right to request an advance payment of Fees of a future series, in the event of failure to adhere to the approved credit terms as shown on all invoices.
1.4.6 In the event of failure to pay any OCR invoice within the agreed credit period, OCR shall be entitled to exercise all legal and contractual remedies to recover all monies owned, including but not limited to:
1.4.7 OCR reserve the right to cease trading with a customer in the event of a customer being deemed a risk.
1.5.2 Invoices will not be produced for any customer purchase made through the e-commerce platforms where immediate payment is required.
1.5.1 Clear information is provided by our e-commerce systems to the customer on the amount payable, including any applicable tax, that will be charged to the payment card being used.
1.5.2 Receipts will be issued automatically upon successful completion of the transaction and will include details of payment made, identifying taxable amount of the product and service purchased.
1.6.1 If a customer in good faith disputes any part of the invoice, notification must be provided within 10 days from the date of the invoice to the Credit Control Department.
1.6.2 On notification of an Invoice Dispute the Customer must provide this in writing detailing the dispute with the referencing Invoice Document Number, Customer Account Number and point of contact details.
1.7.1 All Sales related invoices are retained in accordance with the legal requirements to retain records for the previous six financial years plus the current financial year.