Preparation · process
What data do I need to prepare a Payment Times Report?
Quick answer
You need enough transaction, supplier and payment information to identify trade credit payments, apply the required classifications and exclusions, identify small-business suppliers and calculate payment times.
What does this mean?
The Regulator's guidance identifies the core information expected in the TCP and SBTCP datasets. This includes payer and payee details, ABNs, payment date and amount, whether the payment was by credit card, eInvoice capability, partial-payment status, invoice issue and receipt dates where relevant, payment terms, RCTI status, small-business identification and payment time.
Practical point
The data does not have to live in one perfect system. The Regulator allows entities to use multiple datasets or custom reports provided the required payments are accurately collected, classified and understood and the methodology can be reproduced.
Other ways people ask this
- What do I need to give someone to prepare my PTRS report?
- Which fields are required for Payment Times Reporting?
- What information should I extract from accounts payable for PTRS?
- Do I need one dataset to prepare a Payment Times Report?
Official sources
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Payment Times Reporting Guidance Materials
Preparing the TCP DatasetParagraphs: 127, 128, 129, 130, 131 · Page: 35-36
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Payment Times Reporting Guidance Materials
Datasets: In practiceParagraphs: 170, 171, 172, 173 · Page: 43-44
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Worked Example – Standard Payment Times Report
Final TCP DatasetReference: TCP Dataset fields
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Worked Example – Standard Payment Times Report
Final SBTCP DatasetReference: SBTCP Dataset fields
Related guidance
Preparing a Payment Times Report?
Monochrome Compliance can help with the data preparation, validation, reconciliation and reporting process.