Prepare the payment times report from the accounts payable data
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the accounts payable ledger, the supplier master file and the standard payment terms, identify small business suppliers by the method the entity has adopted for the scheme, calculate the payment terms and payment times figures the report asks for over the reporting period, and populate the report with each figure traced to its query.
- What the lawyer must review
- The lawyer confirms the entity is a reporting entity and which group members are covered, checks the method used to identify small business suppliers, reviews any figure that moved sharply from the last report, and confirms the report is approved by the right person and lodged on time.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the accounts payable ledger, the supplier master file and the standard payment terms, identify small business suppliers by the method the entity has adopted for the scheme, calculate the payment terms and payment times figures the report asks for over the reporting period, and populate the report with each figure traced to its query. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm the entity meets the test: constitutionally covered, carrying on an enterprise in Australia, and total annual income over $100 million.
- Check the reporting period matches the entity’s income year halves.
- Reconcile the invoice count used to the ledger for the period.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| Payment times report: who reports and when the two reports fall due | Checklist | AI use Yellow | Diary for a payment times report under the Payment Times Reporting Scheme. |
Signed-in accounts can read the full text of each one. All precedents.
Sources
- Treasury — Payment Times Reporting Scheme · 2026-10-18
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.